Introduction
Five years ago, when I built my first gaming pc, one of the first thing I tried was cryptocurrency mining. I was watching Bitcoin and others for years then and wanted to get more into the ecosystem.
I ended up mining some ETH’ cents a week with my old GTX 960. These being worth hundreds $ now but only cents back in the days.
Long story short, after the rise of cryptos recently, I ended up building a mining RIG at home with a good friend of mine.
The Mining strategy
We chose to invest into GPU mining. According to me, Asics mining is way too exposed to hardware depreciation and the noise pollution is unbearable.
GPU mining aka (mainly) Ethereum mining seemed like a good choice for us but getting our hands on the hardware was quite impossible
Getting some Graphics-Cards
With the recent new rise of crypto, the market of mining hardware is being under big big pressure. The most impacted components are the graphic cards aka gpu’s. With NVidia realeasing it’s last RTX 3000 series, the older-series’ production got sto-pped and the new cards got sold out as fast as possible.
“In a world where hardware equals Magic Internet Money there is never enough hardware for everyone.”
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To put in a nutshell we found a big supplier from a small country where the gpu we needed was available, the magnificient RTX-3060 ^^
We ordered ten of them (market value of 6000$) and waited until itcame to us. But it did not happened as planned and we only received five of them at the day…
Setting up the Money-Maker
A mining computer is nothing else more than a super computer made in the purpose of decrypting a specific algorithm. It requires everything from a basic processor to a hard drive.
We used precisely:
- Intel i7-6700
- SSD 125Go
- 16Gb of DDR4 RAM
- Asrock H110 BTC+
- Be Quiet Dark Pro 12 1500W
- 5 x RTX 3060 Ti from KFA2/GALAX
- 5 x Risers connector
The total cost is around 3500$
Once the machine built and Windows installed, it was ready to begin mining some ETH. We are using the software Phoenix Miner
Launch in 3,2,1…
Two clicks later, we were already generating our first ETH’ cents, here are the results we obtained:
→ Between 60 and 64 MH/s per gpu
→ A total calculating power of +300MH/s
My overclocking settings are the following
- fan speed: auto
- Memory Clock: +1175MHz
- Core Clock: -502MHz
- Power: 60%
While I am writing those lines, this is equivalent to around 24$/day or 720$/month with only five cards!
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Conclusion
According to the actual situation of Ethereum and Bitcoin being pretty high and breaking new records each weeks, this system should be profitable in 6 months. I am quite optimistic about the future of cryptos but after five years into it the only thing I can say is Hodl and we’ll see!
Wherever this experience brings me, however the cryptocurrency ecosystem evolves, I’ll be happy having done it. It is easy, cool and necessary to dream about setting up many projects, but nothing equals doing them and achieving new goals.
Participating more and more to this ecosystem has always been a pleasure and will always be.