HOW TO START MINING

[virginiebertho]

Hi,
I want to start mining :
I've 6 computers with big config (i7-i9 / RTX 2080- 3090)

I'm searching a software for mining on multiple machines that are very powerful.

the problem is that I don't really know much about mining and cryptos. I don't know which ones are good at the moment for example.
Thank you

 

[hat]

There's not much to be gained these days, especially not the way you're doing it. You don't want to mine on 6 different computers, and CPU mining will get you nowhere fast. You want to stuff as many graphics cards in a single machine as you can to eliminate as much overhead from the supporting components (board, CPU, RAM etc) as possible. There are a bunch of mining boards available that have a shitload of PCI-E x1 slots available, which you would plug a riser into and connect the card to the riser. These boards also have multiple 24 pin connectors to run multiple power supplies together to power all those cards.

On the software side, I'm not sure what's best. I just use nicehash.

 

[virginiebertho]

Ok, I understand your advices.
even if at the moment there is not much, with 6 powerful machines there is no way to install software and still mine?

 

[hat]

Sure, you could just run nicehash on each of them, but you'll likely be spending more in power running 6 separate machines than you'll be making from mining. I'm at $1.33/day right now with 2 GTX1070s and that's before considering the cost of the power they use. You're better off with 6 cards in 1 machine. Even at idle it would cost hundreds of watts to run 5 additional systems when you could put 6 cards in 1 machine.

 

[Toothless]

You're probably going to pay more in power bills than the gains.

 

[R-T-B]

You're probably going to pay more in power bills than the gains.

This, really.

 

[virginiebertho]

Ok thanks for all
therefore the solutions are:

-Mine with 6 computers but the power cost is high.
-Buy a specific machine with multiple GPU and start mining.


I
in any case, you need a good software that would allow mining and reporting to the wallet.
Do you have vouchers to advise?

Thank you

 

[Toothless]

Solution is not to mine in the first place.

 

[virginiebertho]

Ok thanks
In this case, how can I choose the machine ?
and while waiting to order the special machine, to receive it, and to configure it, what software do you recommend while waiting

 

[Toothless]

None. Mining is dead and all you're going to do is waste money trying to get into it.

By all means if you're going to ignore people (where one of them is a former miner) then sure, go ahead and rack up your electric bills for a cashout that's less than what you put in.

 

[virginiebertho]

Ah,
So at the moment nothing is pressing to undermine

 

[Toothless]

There is nothing left of it besides being a waste.

 

[hat]

Ok thanks
In this case, how can I choose the machine ?
and while waiting to order the special machine, to receive it, and to configure it, what software do you recommend while waiting

I've said Nicehash a bunch of times already. It's a basic Windows application.

A regular motherboard should already have a bunch of PCI-E slots that you should be able to use with risers. Even my motherboard, which isn't designed for mining whatsoever, has 5 PCI-E slots of varying types (3 x16 and 2 x1), so theoretically I could stuff 5 cards in here with risers. 4 if I plug a card into the first x16 slot as you would normally (as it would block the x1 slot underneath it). But powering 5 or even 4 graphics cards is no easy thing, you'll need an oversized power supply to do so. Assuming 5 GTX1070s (I know you're probably not using 1070s, this is just my example because I know these cards), that's 750w just in 12v power from pci-e connectors (and likely molex connectors or even more pci-e connectors to power the slots on the risers). Fortunately, it's easy to use Afterburner to reduce the power target to shave off the wattage for barely any loss in performance. With an 80% power target 750w becomes 600w.

For such a configuration, I would probably choose this power supply: https://www.newegg.com/corsair-hx-series-hx850-cp-9020138-na-850w/p/N82E16817139203
And that's knowing each 1070 only takes one PCI-E 8 pin, and looking for only risers that take molex, not PCI-E.

Also, guys, I've already mentioned that profits are down and he may not even recoup the cost of power (especially running 6 separate rigs, which is why I'm trying to steer him towards looking at an actual mining system). If he decides to proceed anyway, let's let him and share what we know? Maybe he has a good electricity situation. Maybe it's a hobby he's trying to get into. Sports cars still exist, even though nobody needs to drive a Mustang and anybody who is driving a Mustang can still get from A to B just fine in a Civic.

 

[jiteshj]

Some people have Solar, so a subsidized power cost. Or they are mining from a workplace or lab... Anyhow, the payout for your computers would be about $8 USD a day. that's running 24hours with Nicehash. You could then hope for the prices to go up or learn Crypto trading. I think that's where your payoff would be, learning about trading and the hardware knowledge.

 

[Chomiq]

Hi,
I want to start mining :
I've 6 computers with big config (i7-i9 / RTX 2080- 3090)

I'm searching a software for mining on multiple machines that are very powerful.

the problem is that I don't really know much about mining and cryptos. I don't know which ones are good at the moment for example.
Thank you

You'll make more money scalping those 3090's on ebay.

 

[yotano211]

I'm a former miner that had at once 21 mining machines in 2 states, California and Oklahoma. Most of my mining machines had 6 graphics cards each, 3 of them had 8. Mining right now with graphics cards is dead, there is no profit in mining right now.

You might only make $1.10-1.20 with a 2080 per day but it depends on your power cost.

 

[Beertintedgoggles]

I don't mine but everyone that is claiming it is a wasted effort should remember, furnaces / electric heaters, etc. don't give you any return on investment. I'm doing some assuming here myself but the OP could be supplementing his heating with the waste heat from his planned mining rigs. I know my setups a few years ago added quite a bit of heat from folding@home.

 

[TechLurker]

I don't mine but everyone that is claiming it is a wasted effort should remember, furnaces / electric heaters, etc. don't give you any return on investment. I'm doing some assuming here myself but the OP could be supplementing his heating with the waste heat from his planned mining rigs. I know my setups a few years ago added quite a bit of heat from folding@home.

I recall there was one company in Europe that provided 24/7 heating to an apartment complex this way; they set up a mining rig down in the basement, collected the heat and pumped it to the radiant systems in the tenants' rooms. The earnings from the mining was split between the complex owner and the company. I now sort of wonder if they shifted to Folding@Home or continue to mine, assuming cheap/free electricity.

 

[Deleted member 191766]

Would mining be profitable with under-volting?

Under-volting reduces performance but reduces power consumption to a greater degree; so the calculations would be cheaper.

P ~ V^2 f
power consumed goes like the voltage squared (resistive heating) times the frequency

f ~ V
One must slow down for stability if reducing the voltage

So
P ~ V^3
Half voltage would then yield half performance, but at one eighth the power consumption; the performance to power ratio has quadrupled.

 

[Toothless]

Would mining be profitable with under-volting?

Under-volting reduces performance but reduces power consumption to a greater degree; so the calculations would be cheaper.

P ~ V^2 f
power consumed goes like the voltage squared (resistive heating) times the frequency

f ~ V
One must slow down for stability if reducing the voltage

So P ~ V^3

Half voltage would then yield half performance, but one eight power consumption.

Nope. Unless you can get enough performance to equal or be greater than startup cost and power used/mo in X time.

Say you drop $2k into mining and the extra power drags your bill up $100/mo. That's $3200 for the first year. You would need to be at $8.80/day x 365 for the year to have profit and sure, second year would be easily done for a few spare bucks but at $1-2 a day, you're looking at years to get the return and that's if nothing dies.

 

[INSTG8R]

Would mining be profitable with under-volting?

Under-volting reduces performance but reduces power consumption to a greater degree; so the calculations would be cheaper.

P ~ V^2 f
power consumed goes like the voltage squared (resistive heating) times the frequency

f ~ V
One must slow down for stability if reducing the voltage

So
P ~ V^3
Half voltage would then yield half performance, but at one eighth the power consumption; the performance to power ratio has quadrupled.

Most miners flashed custom BIOS that were meant for efficiency That is why there are numerous threads of people buying used 580s and similar used for mining looking to flash back the original BIOS because of performance issues.

 

[Deleted member 191766]

Say you drop $2k into mining and the extra power drags your bill up $100/mo. That's $3200 for the first year. You would need to be at $8.80/day x 365 for the year to have profit and sure, second year would be easily done for a few spare bucks but at $1-2 a day, you're looking at years to get the return and that's if nothing dies.

Let's run with these numbers for fun
Ones needs twice the number of cards, but less power supplies; but lets ignore the lesser number of power supplies and pretend the initial cost doubles.
$2k + (12 * $100)n = $4k + (12* $100/4)n
then break even for the two approaches would be around 1.7 years

Running at one eighth power should help to extend the equipment life, so the break even point may be a little earlier (also because one need purchase less power supplies).

 

[MIRTAZAPINE]

You can try nicehash like other people said here. It is an easy programme to use without you need any command line knowledge. You can register a nicehash wallet but I don't recommend. I lost my bitcoin when nicehash was hacked. I was a rather newbie to mining but you must get your own bitcoim wallet. Its much safer.

 

[Toothless]

Let's run with these numbers for fun
Ones needs twice the number of cards, but less power supplies; but lets ignore the lesser number of power supplies and pretend the initial cost doubles.
$2k + (12 * $100)n = $4k + (12* $100/4)n
then break even for the two approaches would be around 1.7 years

Running at one eighth power should help to extend the equipment life, so the break even point may be a little earlier (also because one need purchase less power supplies).

But are you actually running the entire card at 1/8th power consumption? You gotta look at what OP has which we can assume is a few 2080's and 3090's. I really don't see a 3090 pulling under 200w/ea at full load which is what will be happening.

 

[Solaris17]

Not to mention thats assuming all things are equal. If your under volting enough then your not clocking as high and you are probably earning less because your machine is slower.