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Have you tried building a mining rig?

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Deleted member 31

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#1

Hello, Crypto Fans!

I'm sure most of us already heard and have already tried mining cryptocurrency. However, mining with a slow or low-performance PC will only net you very low profits. If you have a decent gaming PC, you can make a profit out of it by letting a mining app run when you aren't doing anything intensive.

But to really have high profits when mining, you will have to invest money by buying computer parts to build your own mining rig. A good mining rig must have one or multiple high powered GPUs so it will solve mathematical computations and mine crypto much faster.

Have you tried building your own mining rig yet?
 
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#2

Hello, Crypto Fans!

I'm sure most of us already heard and have already tried mining cryptocurrency. However, mining with a slow or low-performance PC will only net you very low profits. If you have a decent gaming PC, you can make a profit out of it by letting a mining app run when you aren't doing anything intensive.

But to really have high profits when mining, you will have to invest money by buying computer parts to build your own mining rig. A good mining rig must have one or multiple high powered GPUs so it will solve mathematical computations and mine crypto much faster.

Have you tried building your own mining rig yet?
Sure, I bought 5 of them at the local hardware store just yesterday, ROFL. Even though I know nothing about mining, but it was interesting to see how it was done as I seen a news story about how this group of investors went to this small town in the US just because they had cheap electricity, and they had like some type of warehouse that was full of connected computers for the purpose of bitcoin mining, and it was pretty cool to watch, and with a setup that you have described would probably not make anything, as this warehouse had millions of dollars in computer technology that was mining 24/7 round the clock.
 
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Deleted member 31

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#3
Sure, I bought 5 of them at the local hardware store just yesterday, ROFL. Even though I know nothing about mining, but it was interesting to see how it was done as I seen a news story about how this group of investors went to this small town in the US just because they had cheap electricity, and they had like some type of warehouse that was full of connected computers for the purpose of bitcoin mining, and it was pretty cool to watch, and with a setup that you have described would probably not make anything, as this warehouse had millions of dollars in computer technology that was mining 24/7 round the clock.
Wow, how timely for my post! :D

Can you share with us the specs of the machines you bought? I would also like to know what crypto you would be planning to mine if it's alright. Also, please update us on the progress of your mining business from time to time. :)
 

Heatman

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#4
Sure, I bought 5 of them at the local hardware store just yesterday, ROFL. Even though I know nothing about mining, but it was interesting to see how it was done as I seen a news story about how this group of investors went to this small town in the US just because they had cheap electricity, and they had like some type of warehouse that was full of connected computers for the purpose of bitcoin mining, and it was pretty cool to watch, and with a setup that you have described would probably not make anything, as this warehouse had millions of dollars in computer technology that was mining 24/7 round the clock.
Wow, that's nice to hear. Please how much did you pay for acquiring that rig? If it's affordable, I might consider purchasing it as well. Cryptocurrency is an investment that is worth getting into in our world today, anyone looking past it wouldn't be considered to reason well because such thing as digital currency would only make our financial like better.
 
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Deleted member 31

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#5
Wow, that's nice to hear. Please how much did you pay for acquiring that rig? If it's affordable, I might consider purchasing it as well. Cryptocurrency is an investment that is worth getting into in our world today, anyone looking past it wouldn't be considered to reason well because such thing as digital currency would only make our financial like better.
Crypto Mining is lucrative especially if your neighborhood has a very low electricity cost. However, your profit would depend on how much you're planning to invest. If you invest in multiple GTX 1080 Ti's, in addition to low electricity cost, you'll have very high profits.
 
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Deleted member 27

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#6
I haven't checked the prospect of buying or building my own cryptocurrency mining rig for two reasons. First is the issue of electricity and its cost. We have unstable power supply, there times we won't see electricity for two long weeks. There was a time when our transformer blew up and it took more than 4 months before it was fixed. This situation wouldn't help me with getting a mining rig. Cost of buying the mining rig is another thing to consider.
 
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Deleted member 31

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#7
I haven't checked the prospect of buying or building my own cryptocurrency mining rig for two reasons. First is the issue of electricity and its cost. We have unstable power supply, there times we won't see electricity for two long weeks. There was a time when our transformer blew up and it took more than 4 months before it was fixed. This situation wouldn't help me with getting a mining rig. Cost of buying the mining rig is another thing to consider.
Luckily we don't have electricity issues like those anymore. When transformers blow up now, they easily replace and fix it within the day or week.

We also have crypto miners here but they are shutting down their mining business. They are transferring to other countries because the electricity costs are way too high to make decent profits from mining.
 
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Deleted member 27

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#8
Luckily we don't have electricity issues like those anymore. When transformers blow up now, they easily replace and fix it within the day or week.

We also have crypto miners here but they are shutting down their mining business. They are transferring to other countries because the electricity costs are way too high to make decent profits from mining.
Electricity problem is something that has plagued us here for over a long period of time and the government never fulfill its promises of restoring our unstable power supply, so this poses as a huge problem and a major hindrance for those interested in setting up a mining rig. And to top it all, electricity bills is very expensive here as well even they hardly give us light, we are still forced to pay high electricity bills. It's very frustrating and annoying.
 
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Deleted member 34

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#9
I have thought about it before, but when I learned that I would be spending more than $1,000 to gain a decent amount at least, I changed my mind haha!

GPU prices have reached all-time highs and obtaining them is an even more significant challenge. Add the high cost of electricity from where I live, and it sums up that it is a no-go. With all the costs factored in, I think I will only break even after weeks worth of mining.

It is rewarding and profitable if you live in a place where electricity costs are low like Iceland and Ukraine. It is cold out there so you won't need much when it comes to cooling your machines, too. Sweet! Get your passports ready miners. It is time to fly! :)
 
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Deleted member 27

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#10
I have thought about it before, but when I learned that I would be spending more than $1,000 to gain a decent amount at least, I changed my mind haha!

GPU prices have reached all-time highs and obtaining them is an even more significant challenge. Add the high cost of electricity from where I live, and it sums up that it is a no-go. With all the costs factored in, I think I will only break even after weeks worth of mining.

It is rewarding and profitable if you live in a place where electricity costs are low like Iceland and Ukraine. It is cold out there so you won't need much when it comes to cooling your machines, too. Sweet! Get your passports ready miners. It is time to fly! :)
The prospect of owning your mining rig is a great one especially when you sit back and look at that profit and benefits you would likely be making from it, it's definitely tempting. But when you consider the expense it's going to be costing you to build your own mining rig with the best computer processor power, electricity, accommodation etc, it would come to your realization that it's not a simple project. This is actually why some people go into cloud mining because it seems a bit cheaper and they earn considerably from it.
 
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I have thought about it before, but when I learned that I would be spending more than $1,000 to gain a decent amount at least, I changed my mind haha!

GPU prices have reached all-time highs and obtaining them is an even more significant challenge. Add the high cost of electricity from where I live, and it sums up that it is a no-go. With all the costs factored in, I think I will only break even after weeks worth of mining.

It is rewarding and profitable if you live in a place where electricity costs are low like Iceland and Ukraine. It is cold out there so you won't need much when it comes to cooling your machines, too. Sweet! Get your passports ready miners. It is time to fly! :)
I seen a segment on TV where this business was in a state that had cheap electricity, however, they had a small warehouse filled with computers, and with all that computer power, they were only able to mine a few coins per day, and mining not an evergreen business model, why? Because if you need millions of dollars for a warehouse, computers, staffing in order to mine a hand full of coins per day, well, really doesn't seem worth it, and if this business had all this money that they could invest in such a venture, then why did they choose the worst business model to start with?
 

chameli

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#12
I have not tried building mining rig, and I don't think I will ever try. First of all setting up a mining righ and mining bitcoins is very expensive. Secondly, I don't have technical know how to start bitcoin mining myself.
 

Heatman

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#13
I have not tried building mining rig, and I don't think I will ever try. First of all setting up a mining righ and mining bitcoins is very expensive. Secondly, I don't have technical know how to start bitcoin mining myself.
You are absolutely correct with that assertion. In as much as the financial power is an important factor in setting up a mining rig, without mastering the technical know how, it's going to make it virtually impossible to succeed in the project. I'm sure that it's the reason why most people aren't rushing into building their own rig.
 

A K Rao

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#14
I really don't have any idea about the building mining rig except that it requires lot of power, that too my talked some time back while we were talking about the bitcoin mining. I can't dare to install one as I don't know anything about it and further we don't have uninterrupted power supply where I live! I gathered good knowledge about building mining rig!
 

chameli

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#15
You are absolutely correct with that assertion. In as much as the financial power is an important factor in setting up a mining rig, without mastering the technical know how, it's going to make it virtually impossible to succeed in the project. I'm sure that it's the reason why most people aren't rushing into building their own rig.
Building a mining rig is a technical work. Setting up your mining rig requires a lot of investment. Running a mining rig is also very costly as you end up paying a lot of electricity bill.
 

Junrose123

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#16
I have never tried building up a mining rig since I don't have much knowledge on that particular thing but I am willing to learn from t and give it a try in the future.
 

johnywalker

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#17
I am interested in bitcoin mining, however, I will never try to build my own mining rig as it is not only costly but also too technical. I would rather prefer to cloud mine.
 
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