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Free mining capability, (is it worth trying it)

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Hi guys,

So I have never mined, never attempted mining and not really looked into it. I understand a lot of the rigs are optimised, you have power usage to consider and hardware costs. However that said....

I have a solar system being fitted next week, the system is spec'd for 4KW in British weather and probably a low of 2.3KW/h in bad weather. During the day when we're all at work, this free power will be wasted
I also have my personal PC which has two Vega 64's (I know they're probably not the best to mine with but I already own them)

So I have a PC with a couple of cards and free power, from 8am to 5pm Monday to Friday (10 per day / 50 per week) could I see any benefit at all from using the PC for mining during these hours? Is there anyway to see what sort of estimate I could see?

I know nothing so I am at your mercy for advice.

HF
 

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The returns are miniscule now for the wasted power, Do Folding/Crunching with it.

Mining went bust
 
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Yeah, I have just been looking on google, apparently I'd make, maybe $11 a month, if I was lucky... Not even worth my time messing around with it.
 
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You would be "mining for later", meaning not worth selling now, but like all the previous cycles you can sell when prices go back up. Probably in a few years, unless the cycle accelerates, which it also seems to be doing but no guarantees.
 

FordGT90Concept

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4 kwh = installed solar panel capacity? Bought batteries too? Solar has a capacity factor of about 30% which translates to levelized power delivery of only 1.2 kwh for the average of the year. Installing all of that also isn't free and batteries are not cheap to replace.

Personally, I would just weigh the power savings from the panels against the investment cost of the panels. I wouldn't look to increase power consumption for pennies worth of payback.
Yeah, I have just been looking on google, apparently I'd make, maybe $11 a month, if I was lucky... Not even worth my time messing around with it.
Seems like you already reached that conclusion. :laugh:
 
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Hey @FordGT90Concept,

Totally with you, I know I'll not get 4Kwh constantly, if that at all. I'm getting a PV system installed.

The system I am getting, in detail is as follows

15 * 300w panels, (4.5kw total)
9x mounted -25° from azimuth
6x mounted +65° from azimuth

Unfortunately, UK legislation limits residential install size due to the FIT, so I'd need approval for anything bigger

Using PVGIS calculations and taking into the 14% system loss

For example April (one of the better months) generates 517 kw/h over a period of 417 hours of daylight. Averaging, as you say a 1.2 kw/h production per day. but that's taking into account weather and all conditions (based on April 2018 weather details)

PVGIS provide these estimates (two graphs due to two roofs)

Total estimate per year is 4321.5 kw/h which is currently 13.587p per kwh

So I generate £587.16 of power a year (off my bill)
I then get a government subsidy of £166.81 per year for generating renewable energy
And then I get an export tariff of 50% of generation of £113.22

So a total saving of £867.19 per year
 

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  • PVdata_51.883_0.542_undefined_crystSi_1.8kWp_14_50deg_65deg_L.png
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You would be "mining for later", meaning not worth selling now, but like all the previous cycles you can sell when prices go back up. Probably in a few years, unless the cycle accelerates, which it also seems to be doing but no guarantees.
+1 on this. Probably nobody mining today is looking to "cash out" today. I for one continue to mine and hold my earnings hoping for prices to go up so my shit is worth more.
 

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I would have said if you did this about two years ago, you'd have made something, but now, it's probably not worth the hassle or the electric, all depends on what the difficulty of the coin is and what coin you will be trying to mine.

I can't really complain as it did in a way pay for my solar panels but now it's just not worth it. I'll see when I'm home about the calculators I used when I was mining with my mate and then you can make a call from that...

As for solar, the last few weeks have been terrible and I've been barely making 1Kw in a day as the majority of the days have been overcast and so poor for solar it's been pointless :( I think New Years day was nice as it was constantly about the 1500w to 2500w range for me which was lovely as I had all the crunchers on and I was cooking turkey for the family for New Year.. Might have needed a bigger array for the oven but heck the PC's were covered by the generation :)

If I can help any more, just shout :)
 
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I would have said if you did this about two years ago, you'd have made something, but now, it's probably not worth the hassle or the electric, all depends on what the difficulty of the coin is and what coin you will be trying to mine.

I can't really complain as it did in a way pay for my solar panels but now it's just not worth it. I'll see when I'm home about the calculators I used when I was mining with my mate and then you can make a call from that...

As for solar, the last few weeks have been terrible and I've been barely making 1Kw in a day as the majority of the days have been overcast and so poor for solar it's been pointless :( I think New Years day was nice as it was constantly about the 1500w to 2500w range for me which was lovely as I had all the crunchers on and I was cooking turkey for the family for New Year.. Might have needed a bigger array for the oven but heck the PC's were covered by the generation :)

If I can help any more, just shout :)


Cheers buddy, think I'll leave the mining and maybe do some crunching with it :) I have the two servers I'll use for crunching too but going to leave them in my test rack at work in my office for the free power.

Re solar, I know it's up/down for generation and there is no guarantee, the best you can go by is PVGIS of course.
 

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For example April (one of the better months) generates 517 kw/h over a period of 417 hours of daylight. Averaging, as you say a 1.2 kw/h production per day. but that's taking into account weather and all conditions (based on April 2018 weather details)
Capacity factor takes into account everything. 100% capacity factor would mean producing rated power 24/7/365. Nuclear power plants are usually something like 90% which means 10% of the year, they're producing less than advertised because of maintenance, mechanical failure, whatever. Photovoltaic has a capacity factor of ~30% because 40% of the day, you're not generating anything and 30% of the day is sub-optimal.

So 4.5 kw * 0.86 adjust for loss * 0.3 capacity factor = 1.161kw average of power you didn't have before

I don't have the numbers to determine mining profitability based on power consumption but, best case scenario, it likely isn't going to beat what the utility pays to buy it back.

As phill said, one mining machine would eat all of that power and then some.
 
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So I have a PC with a couple of cards and free power, from 8am to 5pm Monday to Friday (10 per day / 50 per week) could I see any benefit at all from using the PC for mining during these hours? Is there anyway to see what sort of estimate I could see?
Not sure if it's worth it at today's prices. Maybe if the exchange rate of Ether or XMR goes up and you manage to save up some coin, then it will be good.
At this point, if you do stock Vega64, you get around 34-35MH/s per card, or up to 40MH/s with some tweaking. So, both cards can get you around $15/mo if you use them 10 hours a day every day(less if it's only workdays). Basically not enough to warrant the risk of wear and tear on those expensive GPUs.
 
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Capacity factor takes into account everything. 100% capacity factor would mean producing rated power 24/7/365. Nuclear power plants are usually something like 90% which means 10% of the year, they're producing less than advertised because of maintenance, mechanical failure, whatever. Photovoltaic has a capacity factor of ~30% because 40% of the day, you're not generating anything and 30% of the day is sub-optimal.

Got ya, which makes perfect sense and matches what my estimates are going to be, :)

Not sure if it's worth it at today's prices. Maybe if the exchange rate of Ether or XMR goes up and you manage to save up some coin, then it will be good.
At this point, if you do stock Vega64, you get around 34-35MH/s per card, or up to 40MH/s with some tweaking. So, both cards can get you around $15/mo if you use them 10 hours a day every day(less if it's only workdays). Basically not enough to warrant the risk of wear and tear on those expensive GPUs.

Thanks buddy, some quick googling showed me that too, (after I posted) So I think I will give it a miss, I don't want to break my pretty GPU's lol.
 
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Not sure if it's worth it at today's prices. Maybe if the exchange rate of Ether or XMR goes up and you manage to save up some coin, then it will be good.
At this point, if you do stock Vega64, you get around 34-35MH/s per card, or up to 40MH/s with some tweaking. So, both cards can get you around $15/mo if you use them 10 hours a day every day(less if it's only workdays). Basically not enough to warrant the risk of wear and tear on those expensive GPUs.

If Ethereum reaches $1K again, it would be. What are the chances of that happening? ...probably very low. :p
 

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If Ethereum reaches $1K again, it would be. What are the chances of that happening? ...probably very low. :p
I hodl my hopes high )))
Personally I don't mine and never mined. It's just when mining is popular - I get lots of stuff to fix in my workshop. Consequential income :D
 

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Cheers buddy, think I'll leave the mining and maybe do some crunching with it :) I have the two servers I'll use for crunching too but going to leave them in my test rack at work in my office for the free power.

Re solar, I know it's up/down for generation and there is no guarantee, the best you can go by is PVGIS of course.

Crunching will soon rip through the power as well, it's kind of amazing to see how far some days you produce next to nothing and others you produce more than enough to in theory power two of your houses together lol I'll try and grab you a screen shot of the lows and the highs of solar production.. See how you feel about it :) I've a similar array at home, 3.6Kw in panels, but it'll produce nearly 4Kw at a peak. Something to do with the PV rating down in the south, as it's about 10% more than in the Midlands I was told, then in Scotland it's less there..

Having the bigger array will help or benefit in the winter months as it'll produce a little more but when it's not producing much more than 100w at anyone time, it's a bit of a waste.. Get a little sun on it and I've found with just having the basics on (fridges, freezers, NAS, printer etc) I need to produce about 200w about an hour to have free for just the standard stuff you have on, let alone the big PC that requires 1000w to run with the 4 GPUs and maxed out CPU plus all the speakers and monitors to go with it :)

Free power at work is a bonus :) I have my work laptop running WCG all the time so it's a little something to help.. Sad it's only using about 45w max, but it's 45w an hour, 24 hours a day etc etc :) The servers I've got at home have no issues at all draining 300w under load crunching and that's with two L5640's, low powered CPUs lol Must be those damn delta fans that help take all the power lol :)
 
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I hodl my hopes high )))
Personally I don't mine and never mined. It's just when mining is popular - I get lots of stuff to fix in my workshop. Consequential income :D

So much collateral business from that boom, right? It certainly also wouldn't hurt the bottom line for PC component makers either... AMD, NVidia, Mircron, Intel, etc etc etc!
 
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Cheers, sounds good. I'm down south too (Essex) so not south south but still south.

re crunching, I have 8 PC's and 10 laptops all being recycled, they all work fine, just older specs and EoL for business purpose, it's a shame they have to go as I'd love to just set them up crunching away
 

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I'd guess with 10 laptops they might use up about 500w or so, as for the desktops depending on the CPUs in there, they could manage 100w under load for the system, so there's as a guesstimate of 1500w gone before you start :) :laugh:
 
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I'd guess with 10 laptops they might use up about 500w or so, as for the desktops depending on the CPUs in there, they could manage 100w under load for the system, so there's as a guesstimate of 1500w gone before you start :):laugh:


Yeah but I'd run them at work, just tuck them into my racks in the office.
 

phill

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Yeah but I'd run them at work, just tuck them into my racks in the office.

Best way ;)

Here's a few days of solar, I've tried to find low and medium and best case :)
Low solar
Low Solar Power.png


Medium day, fairly good for production :)

Medium Solar Power.png

Higher end of the production scale...

High Solar Power 1.png High Solar Power 2.png Highest Solar Power 3.png

Very sadly the last one was a brilliant day but for some reason the dongle that I have, seems to have a fit every so many days and stops working... Long story short, it takes 3 days before I can put it back in and get it working.. I've no idea why at all...
But I take a reading every day of the amount I have generated and record it in an Excel sheet. It's a bit of a pain in the butt, but I suppose it's worth it just knowing how much each day I've produced, good or bad :)

I thought I'd just put thumbnails for the screenshots as they are off of my phone.. :) If there's anything else you'd like, just let me know :)
 
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I thought excess solar got sold back to the grid. Lowering your bill, or making you money if you sold enough excess. I know that's how it works in some places anyway(pretty sure that's how it is where I'm from). Effectively making it impossible to "waste" any of it.
 
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I thought excess solar got sold back to the grid. Lowering your bill, or making you money if you sold enough excess. I know that's how it works in some places anyway(pretty sure that's how it is where I'm from). Effectively making it impossible to "waste" any of it.

Yes, however national grid cannot measure how much solar is sold back, so every quarter you provide your buyer with a generation reading, you get paid two tariffs, X amount on all power you generate, and how much you export, which because they can't measure is automatically deemed to be 50% of generation.

So even if I use 98% of what I generate, and export 2% they pay me for 50%
 
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Not even worth my time messing around with it.

Not completely true because you can't put a value on knowledge. Knowledge is priceless. And, if you like techy things that can be a pain in the ass, that is worth something too.
 

Outback Bronze

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I have a 5kw system.

My power company only pays me $0.07 per Kw back to the grid.

Its more profitable for me to mine even within the current market.

To answer your question: Its probably worth trying. What have you got to lose?
 

phill

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Yes, however national grid cannot measure how much solar is sold back, so every quarter you provide your buyer with a generation reading, you get paid two tariffs, X amount on all power you generate, and how much you export, which because they can't measure is automatically deemed to be 50% of generation.

So even if I use 98% of what I generate, and export 2% they pay me for 50%

They do an export meter if you'd like one fitted it can be done but most people do opt for the 50% automatic export.. I can't imagine very many are that 'exact' they'd need to know what they exported. That said I do wonder if the smart meters will help or hinder that bit of data.

The program and setup I use monitors the generation, it's got some funky issue when it decides to just disconnect which then stops me getting the graphs and details above, but I've no idea what is stopping that from working. If it stayed sync'd all the time it would be a brilliant bit of kit.. When I mentioned it to the company I bought it from they'd never heard of the issue, yet I've had a replacement directly sent out again and it still doesn't work any better.. Rather frustrating....

But still, I try to use all of the power I generate, I hopefully don't pull too much from the grid but with a few PCs running on a cloudy day, it doesn't take much to upset it... But I am happy I have it, during the summer I can generate enough solar power to cover the costs of whatever electric I use during the night, even when I base it on 5p a unit :)
 
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