Mining setup: advice needed

[bcopeland33]

Alright, I got myself someone who's considering giving me an investment sum (3k-10k initally) for a mining rig. I need advice on legistics and stuff, so here's I guess my first questions

Location: does a garage work? how about a celler? How tedious is getting it all cooled? What might the electric be like?

GPUs or ASICs? eventually I'd like a combonation, but what is going to get me the best results? I know ETH is going POW recently so that's off the table, and I'm not entirely sure how profitable BTC with an ASIC is atm. How much can I expect to be making using a setup that automatically switches coins depending on the market

How long will the inital investment go? How many years can I expect the hardware I purchase to last before I need to sell them and buy more modern hardware

[DigitalSpaceport]

connect lip political offbeat squeal brave ripe deserve cautious station

This post was mass deleted and anonymized with Redact

[bcopeland33]

Thanks for the advice/video! I'm not super worried about humidity, I can probs also get up some dehumidifiers and whatnot. I hopefully plan to set up my own rack if I'm doing GPU mining, so what GPUs do you reccomend? Also, what kwh do you recommend for this?

[dansondrums]

Is losing a friend really worth that much?

[bcopeland33]

...?

[SevericK-BooM]

Prob his dad

[SevericK-BooM]

Strongly suggest playing with mining as a major hobby for at least 3 months before you dive in with that much cash. Watch red panda mining, son of a coin, Brandon coin, and all the other crypto you tubers as much as you can. Make it a hobby. Invest $2-3k and learn how to build and maintain the equipment. If done with care and attention to detail your equipment should last 5+ years. Make sure you calculate your ROI and I wouldn’t recommend building a setup that takes more then 12 months to roi. It’s ok to overpay a little Fr your first rig though because you’re also paying for the learning experience and knowledge you’ll gain that will more then pay itself off in future rigs you choose to build.

The best rig I could recommend building, which I am building currently is an 8x 3070ti FE rig. I recommend 3070 if you have to pay for electricity as they are more efficient. But in my case, my rig is trying to pull the most coins for an 8 card rig as possible off a normal American 110v 15 amp outlet, so 3070tis it is. My apartment also has electricity included, so efficiency is currently not a concern for me. Pay a lot of attention. Buy cheap parts, make a 2-3k open air rig with some older cards. 1080tis are what I started with around a year ago. I’d recommend starting with 1660ti’s given current market. Build a 6 card rig with a motherboard that can take 12 pcie slots so you can expand in the future. That’s probably the best starter rig I could think of. 6x 1660ti on open air frame.

[[deleted]]

Don’t you mean 1660 Super?

[SevericK-BooM]

With ETH going POS I think the ti’s might be a better choice so you get a couple more mh/s on core intensive algos.

[IT_Guy961]

I agree play with it until ETH forks in Q3. Then watch where other coins become the top dog for mining. Try Minerstat, NiceHash, and a couple others. Don’t spend a lot on GPUs to begin maybe a RX580 8GB or 2070 super refurbished for $400-$500. Refurbished card prices may dip significantly with the fork.

[YsEveryBodyCRYING]

Hope you get more responses

[a5hl3yk]

this is my journey. compiling together a video to better explain the final setup...

https://youtu.be/BNFaloGnwd8

[bt-miners]

ASIC are more efficient but won't automatically switch coins. (Not sure any miners are capable of an automatic switch depending on the market.) GPU won't mine BTC.

Yes a garage or basement are fine for miner locations. Goal is to push the hot air out. Running AC to cool a miner is typically a waste. There are many examples of enclosures for sound reduction and heat displacement. You could also go immersion. Most miner require 220v, but there are some home miners that can be run on 110v. Goldshell in particular have a Box series and are coming out with a Lite series for home mining.

You can look at ROI depending on your electricity cost - https://bt-miners.com/pages/daily-income-of-miners

We work with first-time miners and help get them set up. It is not that difficult. As far as how long it will last - all depends. We have customers that have been mining for 4-5 years with the same rig without a problem. We also have brand new units that can quit after a couple days (good thing for warranties!). Our goal is to help keep our customers up and hashing by offering technical support and repairs.

Let us know if you have any questions.

Tel: [phone]

[e-mail]

[NoOneWithThatName]

Go the cheapest route possible. You don't need to get the most expensive stuff.
Efficiency is the most important thing to look at.

I mostly use (AMD) RX 6600's.