Latest coin mining experience on October 31, 2022
As the Covid-2020 pandemic crippled the global economy, the crypto industry has experienced tremendous growth. Moreover, it also attracts new traders to the market while increasing mining activity. So are investors interested in how to build a mining rig for themselves? Based on our experience, in this article we will examine useful information about the excavator installation process.
What is a mining rig?
Mining rigs can be understood as a set of tools (rigs) used to perform mining (mining). Mining is the process of processing and computing large amounts of data, so miners need large amounts of computers with very high configurations. With large computers, miners can easily get the right to update information on the blockchain and get bonus coins compared to other miners.
Excavators can be made yourself or purchased assembled. The advantage of assembling an excavator yourself is that it is often cheaper than buying pre-assembled equipment. However, designing your own excavator requires a certain level of engineering expertise.
In addition, while mining, miners should pay attention to factors such as:
- Budget: includes costs and electricity costs
- Excavator type: Excavator performance must be weighed against investment costs
- Coin Price: The higher the coin price, the higher the mining profit
- Bonus: This is the key factor to be profitable
- Block Time: This is the average time it takes to create a block.
How to install the excavator yourself
Prepare hardware and software
Bagger is basically a supercomputer that contains multiple graphics cards but no display. The main components in a PC include: GPU card, power supply, motherboard, and cooling system. The device connects to the internet and accesses the blockchain platform. This system works independently to perform financial transactions with the power of the graphics card.
More specifically, minors consist of:
- Regular motherboard with connectors for GPU cards.
- An SSD or HDD with 100-250GB of storage to house a crypto wallet, with Ether wallets typically requiring a 25GB wallet and 50GB BTC or more.
- The GPU card is the most important component of miners as it provides the basis for determining how many coins a user can mine, as well as their future earnings and runtime.
- energy sources. Miners with four GPUs usually need more than one power supply. Typically, miners have several interconnected 750 watt power supplies.
- Power supply for GPU card. The graphics card is connected to the motherboard through a special expansion card, called a riser. There are many different types and models of risers, but PCI-E 1x version 006 is the most popular.
- A power switch.
- cooling system. It is best to have some coolers to provide additional airflow.
- excavator frame. Preferably a wooden or aluminum frame. The excavator is slightly larger than the frame due to the protruding parts, converter and cooling system. For example, a miner with seven GPUs will be approximately 53 cm wide, 30 cm high, and 30 cm long.
After purchasing all the parts of the device, it’s time to install it. This is a relatively easy task for someone experienced with computer hardware.
Then, when assembling the hardware, software is required to control the operation of the system. This is the step to choose a program to mine your favorite coins. Another option is to look for a Mining Pool. A mining pool is a pool of miners who mine coins to minimize profit volatility. This is a popular coin mining method as the increasing complexity of cryptocurrency mining makes it even more difficult to do individually.
Choosing the best GPU card for miners
Basically, a miner needs a 04-07 graphics card for stable operation. However, miners can connect 10-15 GPU cards to the motherboard, but Microsoft Windows 10 operating system can only recognize up to 07 cards. Therefore, there is a solution to this problem. It is a special mining software based on the Linux kernel. When using this software, it is important to choose the right motherboard, e.g. B. ASRock Pro BTC+ or similar.
Determining which GPU card is best for mining is not easy as the answer simply depends on how much money the miner has. In general, buying a powerful and expensive GPU for two to three relatively underpowered graphics cards won’t do the trick, as the cheaper ones tend to bring more value due to their lower cost. low energy consumption and acquisition costs.
At the top of the table with the highest mining profits right now are the Nvidia GeForce RTX 2080 Ti and AMD Radeon VII cards. But it is more profitable to build mining fields with AMD Radeon RX 580 and Nvidia GeForce GTX 1660 Super cards, because they get faster.
It should also be noted that the AMD RX series GPU cards also have a big advantage as they change the uptime, voltage and hardware acceleration of the computer (overclocking) of the RAM. Programs like MSI Afterburner and Sapphire TriXX can help perform this operation and help GPU cards achieve peak mining performance.
Looking for energy sources
Once the excavator is ready, paying for electricity during operation becomes a major expense that directly affects profitability. The energy consumption of a miner is calculated as follows:
- For graphics cards: Depending on performance and mining algorithms, GPUs may consume between 360 watts and 1500 watts for devices with 6-7 cards.
- Mainboard, power supply, HDD and RAM: consumes about 100 watts.
- Cooling system: consumption from 20 watts to several kilowatts when using air conditioning.
So how can miners reduce electricity costs? GPU cards are the most power hungry in miners. With proper installation, power consumption during mining can be significantly reduced.
For example, when mining Ether, it is important to overclock the video memory. The optimal operating mode for GPU cards is to set the voltage between 830 and 850 millivolts for AMD cards and 650 and 850 millivolts for Nvidia cards. Reducing the voltage of the board, in addition to reducing power consumption and reducing heat, has a positive effect on the device.
Gensets can also use less electricity when marked “yellow”, which means they save a significant amount of electricity (about 15%) compared to other types. Another option is to replace the hard drive with an SDD hard drive. This increases the loading speed of the operating system and reduces the power consumption of each miner by about 5-15 watts. In addition, modern RAM (DDR4 or DDR3L instead of DDR3) and processors can reduce consumption by 10 to 20 watts.
Miners can also reduce their electricity consumption in other ways, such as finding areas where electricity is cheaper. If possible, miners can contact the power plant to see if it has excess capacity. Some miners can create solar or wind farms that can be used to mine coins, but not everyone can afford to invest that much.
Mining is an interesting way to generate passive income. To maximize sales, setting up a personal backhoe is not that difficult. However, this method of making money from self-installed excavators is more suitable for companies than for individual operators. Because the initial budget and maintenance costs for dredging operations are very large. In addition, investors who wish to install their own excavators must also have technical knowledge and skills.
When building an excavator, it is very important to consider the initial cost of the equipment and increase the effective win rate and profit. Here are some important tips for setting up your own excavator:
- CPU can be used for mining. But GPU is more recommended for better processing speed and best performance.
- Do not try to save too much electricity, because when mining, the power source must be guaranteed to work continuously for 24 hours.
- It is recommended to use SSD instead of HD for better heat dissipation and energy saving.
WARNING: Investing in financial products involves many risks which may not be suitable for some investors. Therefore, please think carefully and check yourself before you decide to link to this website. CryptoViet.com.