Mining

Discussion of all things crypto and blockchain.
User avatar
blackkramer
Posts: 329
Joined: Tue Jan 31, 2012
Location: Canada

Re: Mining

Postby blackkramer » Wed Feb 07, 2018

The local store here just got a ton of 1070 cards in. But they are selling them for $650 CAD before taxes and a warranty. What kind of a price are you getting?

User avatar
joefro
Site Tech
Posts: 3301
Joined: Fri Jan 06, 2012

Re: Mining

Postby joefro » Wed Feb 07, 2018

Typically $500-550 USD. Two months ago it was $400 USD.

Altima
Posts: 1010
Joined: Sat May 10, 2014
Location: Canada/Singapore

Re: Mining

Postby Altima » Wed Feb 21, 2018

Was busy accumulating, building, troubleshooting and finally my mining project is complete!

Behold 16 x EVGA 1080 Ti FTW3 capable of hashing 12000 sols :D

Currently mining ZClassic in anticipation of the Bitcoin Private snapshot that's coming up!

Image
Image
"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

User avatar
joefro
Site Tech
Posts: 3301
Joined: Fri Jan 06, 2012

Re: Mining

Postby joefro » Wed Feb 21, 2018

Quite a beast, well done! I assume you are running those two PSUs on separate circuits? What power does it pull, I'm thinking at least 3.5 kW.

Owassokie
Posts: 41
Joined: Wed Oct 19, 2011

Re: Mining

Postby Owassokie » Wed Feb 21, 2018

I've thought about mining but I'm not a techy. This means I couldn't, or at least shouldn't "build" anything. Would it be worth it for me to consider hiring someone or taking on a partner who is knowledgeable of how to build machines but not in to crypto? Are there any systems I can buy that are basically turnkey?

User avatar
Bucketeer
Bearish Supporter
Posts: 2792
Joined: Sat Aug 23, 2014
Location: Warily watching the herd.

Re: Mining

Postby Bucketeer » Wed Feb 21, 2018

That's impressive!
Gentlemen prefer Engelhard.

Owassokie
Posts: 41
Joined: Wed Oct 19, 2011

Re: Mining

Postby Owassokie » Wed Feb 21, 2018

Can someone provide some dependable resources on how to get started?

cmiller17363
Gold Supporter
Posts: 780
Joined: Thu Jul 13, 2017

Re: Mining

Postby cmiller17363 » Wed Feb 21, 2018

Behold, indeed!
ImageImageImage

Altima
Posts: 1010
Joined: Sat May 10, 2014
Location: Canada/Singapore

Re: Mining

Postby Altima » Wed Feb 21, 2018

Yeah, I'm at my maximum power consumption as I live in a condo apartment. Had to run 4 separate extension cords to feed 4 hungry 1600W power supplies :lol:

I checked and each card is drawing on average 270W at 740 sols/s. Guessing the rig is drawing around 4.4kW, which translates to around 3300 kWh. My electricity rate is $0.05/kWh so it should come up to $165 to run this thing for a month.
"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

User avatar
joefro
Site Tech
Posts: 3301
Joined: Fri Jan 06, 2012

Re: Mining

Postby joefro » Wed Feb 21, 2018

Owassokie wrote:I've thought about mining but I'm not a techy. This means I couldn't, or at least shouldn't "build" anything. Would it be worth it for me to consider hiring someone or taking on a partner who is knowledgeable of how to build machines but not in to crypto? Are there any systems I can buy that are basically turnkey?


Yes, a group of co-workers and myself are doing just that as a side business. We've already sold a bunch of rigs this year. This is our Craigslist ad. I can knock off $500 for the 2 GPU rig, $750 for the 4 GPU rig, and $1000 for the 6 GPU rig for BS members. Those are the premiums we charge for meeting strangers on Craigslist.

With our rigs you literally just plug them into the wall and the internet, input your BTC address and they start mining for you. If there is a power outage they reboot and keep mining automatically once power is restored.

https://houston.craigslist.org/sys/d/bitcoin-ethereum/6501262065.html

Altima
Posts: 1010
Joined: Sat May 10, 2014
Location: Canada/Singapore

Re: Mining

Postby Altima » Wed Feb 21, 2018

Owassokie wrote:Can someone provide some dependable resources on how to get started?


Here's some good websites to get you started on mining:

https://blockoperations.com/
http://1stminingrig.com/best-mining-rig ... mine-2017/
https://www.cryptocompare.com/mining/gu ... ine-zcash/

Also check out youtube channels:
Mining Dudes
Bits Be Trippin'
BuriedONE Cryptomining
"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

User avatar
joefro
Site Tech
Posts: 3301
Joined: Fri Jan 06, 2012

Re: Mining

Postby joefro » Wed Feb 21, 2018

Altima wrote:My electricity rate is $0.05/kWh so it should come up to $165 to run this thing for a month.


Lucky! We pay $0.12/kWh here in SE Texas.

Altima
Posts: 1010
Joined: Sat May 10, 2014
Location: Canada/Singapore

Re: Mining

Postby Altima » Wed Feb 21, 2018

Just as a caveat, mining requires capital, space, electricity and a bit of know-how (by no means I'm a techy) but the reason I wanted to venture into mining was that I've always been fascinated with the hardware side of blockchain technology.

For those of you who are curious/serious about mining, here's my build list:

Motherboard - ASUS PRIME Z270-A / ASUS Motherboard B250 MINING EXPERT
Memory - G.SKILL Ripjaws V Series 4GB 288-Pin DDR4 SDRAM DDR4 2400 (PC4 19200)
Processor - Intel Pentium G4400 Skylake Dual-Core 3.3 GHz
Case - Veddha Professional 8 GPU Miner Case Aluminum Stackable Mining Case
Fans - APEVIA AF512S-BK 4 Pin & 3 Pin Silent Case Fan Best Value, 120mm, Black, 5 Piece
Power Supply - EVGA Power Supply 1600W P2 / EVGA Power Supply 1600W T2
Graphics Card - EVGA GeForce GTX 1080 Ti Graphic Card FTW3
Risers - PCI-E 1X-16X USB3.0 RISER VERSION.008 SATA
Software - ethOS flashed onto a flashdrive (download from GpuSHACK)
"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

User avatar
Brick's
Supporter
Posts: 2121
Joined: Wed Dec 19, 2012
Location: 'Cuse

Re: Mining

Postby Brick's » Wed Feb 21, 2018

Those pieces of technology are just plain pretty to look at. ~Very Nice~
“Rationality belongs to the cool observer, but because of the stupidity of the average man, he follows not reason, but faith, and the naive faith requires necessary illusion and emotionally potent oversimplifications which are provided by the myth-maker to keep ordinary person on course.”

― Reinhold Niebuhr, Moral Man and Immoral Society: Study in Ethics and Politics

Owassokie
Posts: 41
Joined: Wed Oct 19, 2011

Re: Mining

Postby Owassokie » Wed Feb 21, 2018

Thanks Altima and joefro

User avatar
SilverDoge
Constitutional Supporter
Posts: 4696
Joined: Mon Apr 21, 2014
Location: Kansas

Re: Mining

Postby SilverDoge » Thu Feb 22, 2018

joefro wrote:
Owassokie wrote:I've thought about mining but I'm not a techy. This means I couldn't, or at least shouldn't "build" anything. Would it be worth it for me to consider hiring someone or taking on a partner who is knowledgeable of how to build machines but not in to crypto? Are there any systems I can buy that are basically turnkey?


Yes, a group of co-workers and myself are doing just that as a side business. We've already sold a bunch of rigs this year. This is our Craigslist ad. I can knock off $500 for the 2 GPU rig, $750 for the 4 GPU rig, and $1000 for the 6 GPU rig for BS members. Those are the premiums we charge for meeting strangers on Craigslist.

With our rigs you literally just plug them into the wall and the internet, input your BTC address and they start mining for you. If there is a power outage they reboot and keep mining automatically once power is restored.

https://houston.craigslist.org/sys/d/bitcoin-ethereum/6501262065.html


Joe - once I get back to the States I might seriously consider this. Do you ship to Kansas? Any chance of getting 1080's or better instead of the 1070's? On average, how much bitcoin or ethereum could you mine with your 6 x GPU rig running for 1 month straight at today's rates?

Altima's setup is epic too. Nice work!
Image

User avatar
Long John
Turtle Supporter
Posts: 3756
Joined: Sun Feb 14, 2016
Location: Northeast

Re: Mining

Postby Long John » Thu Feb 22, 2018


It's not there. Post deleted by author.

User avatar
joefro
Site Tech
Posts: 3301
Joined: Fri Jan 06, 2012

Re: Mining

Postby joefro » Thu Feb 22, 2018

Ah, I update the post every couple of days to keep it near the top. Updated link:

https://houston.craigslist.org/sys/d/bitcoin-ethereum/6505956431.html

User avatar
rahbii
Posts: 2115
Joined: Fri Oct 08, 2010
Location: Mega-City One

Re: Mining

Postby rahbii » Thu Feb 22, 2018

I have a 12x open air and a 8x box from miningcave. Wow... Delta fans are loud! I think im gonna stick with open air frames.
Image Image Image
"The early bird gets the worm. But it's the 2nd mouse who gets the cheese"

User avatar
joefro
Site Tech
Posts: 3301
Joined: Fri Jan 06, 2012

Re: Mining

Postby joefro » Thu Feb 22, 2018

SD, we have never shipped a rig yet but have been researching it because another member on BS sent me an inquiry a week or two ago. I think we can make it work.

Currently we are using the NIceHash mining pool for our own rigs. NiceHash does an extensive benchmarking test on your rig to determine what algorithms are most profitable to mine. Then it automatically switches you to mine whatever is currently the most profitable. It pays you out daily in BTC, which of course you can turn into any coin you want on exchanges.

A rig with six 1070s is currently mining about 0.0015 - 0.002 BTC per day, or about $400-600 per month, which of course varies with the value of BTC. When mining ETH, the 6 GPU rig has a combined hashpower about 190 MH/s.

If desired, we could build a rig like Altima's using 1080s or 1080TIs. These have a higher hashrate, but consume significantly more power. A 1080TI consumes about 275W compared to a 1070 which pulls about 170W, which is a significant difference. We have found that we get more bang for the buck from our 1070s as the difference in hash rate compared to a 1080 wasnt significant enough to justify the increased power consumption and hardware costs. It made our ROI significantly longer to go with 1080s. Of course that was also based on our electricity cost of $0.12/kWh... if you have much cheaper electricity like Altima does you'd have to run the math.


Return to “Bitcoin/Crypto/Blockchain”

Who is online

Users browsing this forum: No registered users and 1 guest