Mining Rig Buildout. Need your input!

[Hardcore Games]

trading in bitcoin etc have now attracted regulators for larger transactions mostly for tax reasons which suggest this will affect larger mining operations but smaller ones are likely to also find the tax man wanting their piece of the pie

earnings need to consider capital cost, earnings, power and taxes ect

most are not educated in economics like I am

 

[R-T-B]

Right now taxes are pretty easy if you cash out with coinbase, they'll export docs you can plugin to calculators. Most smaller mining ops won't pay much in taxes.

 

[applegrcoug]

So I've been doing some mining since May. I am still underwater, but it has been fun; a challenge that is my own, so I get it.

I didnt look at your build list, but here is what I did...I got cheap stuff where I could to minimize on the overhead.

I have four different dedicated mining rigs with my hash rates spread sorta equally. I didn't go for the knock out punch rig. It has actually been a blessing, because every once in awhile one goes down for some reason and needs to be rebooted or something. When that happens, I only am down like 25%.

But, I arrived here because of the cheap part. At work, we had a bunch of old FX-4300 on these gigabyte boards with five PCIe slots. Price=freeeeeeeee! Guess what, they work just fine with Hive. There actually was another in the junk pile last week that needs "rescuing"

Then I got a couple Ryzen machines running the MSI B450 promax boards with the NVME to PCIe adapter. I can't remember how many total slots that gave me, but it is a slick, simple set up that I can reuse in a real computer if I want to. Bought the ryzens used from people on craigslist or something. Got a 3600 with cooler for $120.

Frames I got at home depot....just the wire shelves and then used zip ties.

I did buy one true mining frame as an experiment. I built a full water cooling rig that uses my pool water to cool the GPUs. It probably didn't make economic sense, but it is somewhat of a hobby after all.

Have fun and don't do anything too foolish.

 

[MentalAcetylide]

Well then....where to begin...

Thank you @sepheronx for being the only poster to actually follow my requests in the OP. You brought no agenda and you embraced the soul of the TPU that I know which is to aid you peers in an encouraging nature!
Thank you to @trog100 for doing so as well in your own way. But did I ask at all about trading crypto? Is it quite possible that I already have a strong portfolio of crypto? I do, and I asked nothing about trading crypto.

@cvaldes you paint a cute picture regarding the economics of mining, but not only did you completely neglect my request in the OP, but you then went on to espouse your agenda of negativity regarding this process. I requested no such counsel regarding these aspects of mining. Did you consider that I'm quite aware of electricity costs? What if, shocker, I own a business with electricity included in my property rent? Based on my perspective of this thread only, you are on your path to troll status. I hope that you gain some perspective and adjust your mindset. If not, I'm sorry for you.

This thread is an interesting case study of agendas. I specifically asked about guidance regarding the build. Not about profitability, the current or future state of mining, my personal financial status, or electricity costs.
TPU has always been a forum of inclusion and friendliness. Those of you who brought closeminded and narrowminded opinions to this thread in direct defiance of my requests, I suggest that you reevaluate the way you communicate on this forum. Are you here to inform, encourage, and educate your peers? Or are you here to fulfill an agenda?

If its possible, you should try to hook up with someone in your area that is doing it. Nothing beats hands-on experience! You might get lucky and find someone doing it completely solo(i.e. not mining as part of a pool) that could give you some advice in regards to setup & hardware. FYI, you probably should go with lower end cards(1070's or 1080's as examples) vs. RTX 3080s as the power consumption & cooling is going to be a ball ache.

 

[trog100]

If its possible, you should try to hook up with someone in your area that is doing it. Nothing beats hands-on experience! You might get lucky and find someone doing it completely solo(i.e. not mining as part of a pool) that could give you some advice in regards to setup & hardware. FYI, you probably should go with lower end cards(1070's or 1080's as examples) vs. RTX 3080s as the power consumption & cooling is going to be a ball ache.

just for the record a 1070 will produce 26 M/sh for around 130 watts.. a 3070 will produce over twice that 60 M/sh for a similar power consumption..

this of course is why later generation cards cost what they do..

trog

 

[applegrcoug]

Just curious, what did you ever do?