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CRYPTO INVESTING Cryptocurrency GPU mining

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Ing

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Wow. We have 0,285€/kWh. Thats 0,43 CAD!
And my sons mining rig is still quite profitable.
 
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GPM

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Well I just got my hands on 2 more 3080 cards. My parents are picking them up for me tomorrow. I got them to back-order a 3080 each in January during the peak of GPU mania. They just got a call from the computer store than 3080s came in, but not the ones we originally wanted. Fine by me, these are LHR EVGA FTW3 models.

So 8 months later and the cards came in. Oh well, better late than never, but these cards would have paid themselves off long ago had they come in and been mining etheream the whole time. Since they are LHR these will be going on Raven.
 

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Is mining done in residential or commercial places? What's the cost of residential or commercial electricity cost per kWh?
 

GPM

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Is mining done in residential or commercial places? What's the cost of residential or commercial electricity cost per kWh?
I am paying roughly 15 cents CAD per kWh right now. I have not yet figured out what I can do in a commercial setting.

Well sad news, the computer store would only give my parents one 3080, even though it was all good to go over the phone. However, one more 3080 is better than no extra 3080s.

Just set that card up, as well as my offline 1070. So that is an extra 65 MH on Raven right now.
 

Ing

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Wow. We have 0,285€/kWh. Thats 0,43 CAD!
And my sons mining rig is still quite profitable.
Commercial would be just 0,275€/kWh . Lol
 

Surf&Turf

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Commercial would be just 0,275€/kWh . Lol
Interesting thread - thank you.

For reference, my US electricity cost is $.07663/kWh. I just got an RTX3060Ti that is paired with a GTX1070 that are mining via Nicehash.
This is my gaming PC, although I rarely play anymore and only in bad weather.

I got the 3060Ti through Newegg's shuffle lottery, sounds like you have great business connections!
 

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Nicehash is a great way to do this for those with gaming rigs, as it is the easiest thing to set up in the world, and you can receive your payments in Bitcoin. When I started out I used to use that program as well. I might one day throw one rig on there as well, mining Ergo, and accepting payments in Bitcoin. I have not done it yet though as I am pretty excited to see my Raven numbers pump up that wallet.
 

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I just went out and got a pretty good haul.

8x Zotac 3060
2x Zotac 3060ti
2x EVGA 3060ti

I won't be able to hook them all up yet due to a lack of power and motherboards, but I can get a lot of them. I ordered 2 more of those sweet 8-card case setups from spiderminer, and these are eventually all going to go in those
20210824_162940.jpg
 

Surf&Turf

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I just went out and got a pretty good haul.

8x Zotac 3060
2x Zotac 3060ti
2x EVGA 3060ti

I won't be able to hook them all up yet due to a lack of power and motherboards, but I can get a lot of them. I ordered 2 more of those sweet 8-card case setups from spiderminer, and these are eventually all going to go in those
View attachment 39607
Are you mining Ravencoin because your setups are highly efficient doing it? Or, because you think it has great long term value potential?
Or both...
 

GPM

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Raven is currently the most profitable coin to mine with these new LHR cards. I also believe that it has some long term potential as well which is great.

Raven has a rewards halving coming up soon. There is a good chance that a large portion of the Ethereum hashrate will move over to it as well. Both of these factors on their own could create a big price spike in Raven.
 

Surf&Turf

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Raven is currently the most profitable coin to mine with these new LHR cards. I also believe that it has some long term potential as well which is great.

Raven has a rewards halving coming up soon. There is a good chance that a large portion of the Ethereum hashrate will move over to it as well. Both of these factors on their own could create a big price spike in Raven.
Thank you for sharing that! My new 3060Ti is LHR and seems to crash ~once a day on NiceHash.
What site or software do you use to mine Ravencoin?
 
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GPM

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I am using trex miner on Windows and mining to my wallet.

My dedicated rigs are using custom mining Linux distros called HiveOS and Simple Mining OS.

Let me know if you need help setting up.
 

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I started posting some random mining stuff to YouTube again. I have 81 subscribers as of today, but I am going to start spending a little bit more time on this.

As far as the mine goes, I am sitting on 9x 3060, 1x 3060ti, 1x 1070 and 3x 1060 cards which are currently waiting on some odds and ends, as well as more power.

I am looking for some space to move about 4kW of power out of my house as a temporary solution. Ideally I can take the leap soon and get something commercial and increase that out to closer to 90kW of capacity for the first build-out.
 

GPM

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88 Subscribers now! lol.

So last night was my first ever attempt to move one of my rigs offsite to alleviate some stress off of my power source. I wasted 2 hours trying to get this wireless range extender to work, but it never would. So I ended up having a rig down the whole night which drives me insane.

This morning I ran to the computer store and got a different router that I know works. After 5 minutes of fiddling it is up and running and my first ever offsite rig is hashing away for me!

I also set up a new rig this morning to take the place of that one in regards to power usage. I will also be moving another rig offsite in anticipation of my 8-card motherboard showing up later this week.

I have also managed to get another 3060 and a 3060ti. I am strapped for cash now, so this will be my last acquisitions for a little bit.
 

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Happy day! My sweet 8-card motherboard/cases showed up today, these were not supposed to be here until Thursday (it is Monday) so I am very happy.

I ordered one more of the cases designed for smaller 2-fan cards, and one of the larger cases for 3 fan setup. I installed my 8 zotac 3060 cards into one of the cases, which freed up room on a motherboard to put 3x 1060 and a 1070 that I had just sitting on a shelf. So as of a few hours ago I am now running flat out again (minus one card down for repairs).

I figured out the issue with one of my boards that keep messing up on me. Turns out the motherboard was defaulting the ram to 2666 and it needed to be at 3200 and did not like it. Since I figured that out and changed the timing I have had no issues with it.

My Ethereum hashrate remains the same, but I am up to roughly 1400 or so on Raven now (equal to 2800 Eth).
 

Ing

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I m thinking abeut a photovoltaic system to reduce costs. Do you know anything about how the conputers deal with Photovoltaik?

the more I think about using someone else s photovoltaic system.
 

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I have attached the energy usage graph from my utility company, which shows pretty good how I have been expanding my cards.

Personal energy usage was effectively 0 from mid May to mid July, so this was completely from the rigs.
Lol! I just saw this. If you were going to get one, you’d need a serious commercial standby generator for your home to run everything. :rofl:
 
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GPM

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So at current rates and prices this is bringing in about $13,000 CAD/month with maybe $1,800 in electricity costs. 100% of my profits are going to upgrading cards right now, and I am still expanding like mad.

I am sitting at 90 subscribers right now, and I thought of an awesome way to put out content as well. I am going to be going through each of my rigs 1-by-1 and detailing all my overclocks, card types, power supply and motherboard. The whole thing. Get some good info out there.

I also have at least one of every type of Nvidia 30 series card, and lots of old full hashrate, and newer LHR cards. I am going to make a spreadsheet on costs, profitability, OC settings... Talk about this. Videos like this are usually absolute crap, reference really bad sources from the internet, and are not complete. I actually have these cards in hand and have run through the settings myself. Most of the OC settings online are crap I find. Some guys are getting insanely high numbers that seem fake, and lots of people who actually have the cards are getting really low performance numbers. My numbers will all be based on real cards in hand, with weeks and months of runtime.
 

GPM

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Just checked my numbers and here is a more exact rundown of how I am doing on each algorithm:

Ethereum:
2,238 MH/s
7,139 watts (-$771)
= 1.55 Ethereum a month @ $4,300 CAD = $6,665
= Total minus electricity = $5,894

Raven:
1,388.5 MH/s
9,438 watts (-$1,019)
= 41,500 RVN per month @ $0.165 CAD = $6,847
= Total minus electricity = $5,828

Total net income per month at todays prices = $11,722
 

Surf&Turf

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Just checked my numbers and here is a more exact rundown of how I am doing on each algorithm:

Ethereum:
2,238 MH/s
7,139 watts (-$771)
= 1.55 Ethereum a month @ $4,300 CAD = $6,665
= Total minus electricity = $5,894

Raven:
1,388.5 MH/s
9,438 watts (-$1,019)
= 41,500 RVN per month @ $0.165 CAD = $6,847
= Total minus electricity = $5,828

Total net income per month at todays prices = $11,722
Fantastic! Love your youtube idea, will check it out.
Have you figured your break-even point on all the hardware purchases? I suppose that changes as you acquire more. But, it sounded like you are slowing down...
 

GPM

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I have not really figured that out. I am pulling mining profits from rigs that are already paid off to purchase more. So I technically don't have much skin in the game in that regard.

What I want to do is control 1MW or more of computing power pretty quickly. I can worry about profits and all that jazz later. Right now I just want to expand as quickly and as rapidly as possible.

I am tapped at like 14 kW at my place. I currently have 3kW at my parents house. I want to talk to my brother about putting 1 kW at his place. I have a cousin on a farm who says I can put about 20kW at her place. I am also looking at a commercial bay right now which can house like 90kW. As soon as I make the jump to something like the 90kW place I will be figuring out how to make the jump to 1,000kW at the same time. The difference between them are just scale, so I might as well go as big as I possibly can.
 
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Are you essentially just grabbing these off of FB Marketplace/Craigslist/etc? Or are you actually finding stores that have GPUs in stock? Just curious on the ability to replicate this in an area with low population.
 

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Do you think profitability of mining has any correlation to a coin taking off?

I tried mining back in the day, blew up my desktop computer lol.
 

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I am considering finding a low-key free 24 hr EV charging station where I wouldn't be bothered, buying a cheap car, wiring it to power a mining rig when plugged in, and parking it there.

Since mining rigs are judged by their efficiency because electricity costs are factored in, a less efficient mining rig with a high hash rate per dollar would be a great choice if the electricity is free. It would practically be free if it's considered to be unprofitable with current electricity prices would it not?

Which mining rig setup would be recommended if the variable of electricity costs were zero and all that mattered was the highest hash rate per dollar?

I am 100% serious
 

GPM

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Are you essentially just grabbing these off of FB Marketplace/Craigslist/etc? Or are you actually finding stores that have GPUs in stock? Just curious on the ability to replicate this in an area with low population.
I got a couple of used cards from Canada's version of Craigslist at the start of the year, and only because I found them for barely higher than MSRP. All of my cards now are from small stores who charge slightly over MSRP, and big box stores who charge MSRP.

I have found reputable sources and built relationships with them. A small store here emails me everytime they get anything in and will hold anything that I want. I have turned down dozens of cards because they were on the higher end for what I want, such as Aurus Master cards. Although I recently picked up an Aurus 3060ti to try out.

LHR cards are pretty easy to get these days. They seem to have a negative association to them for miners and gamers, but they are only nerfed on a few algorithms. 50% on eth and like 80% rates on Ergo from what I hear. I mine them on raven at 100%

My next step is to work on direct buying them as a corporation from IT vendors. That is where most of the smaller stores and companies get their cards from to sell. I want boxes at a time, not singles.
 

GPM

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Which mining rig setup would be recommended if the variable of electricity costs were zero and all that mattered was the highest hash rate per dollar?
Lol. I don't know anything about ASIC machines yet but I guess they are power hungry beasts. You could probably find some that are considered door stops because they cost more to run than they generate for essentially free. Pick some of those up and plug them in!!
 

GPM

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Well I can't stop.

I just got two more 3080 and two more 3060 cards. I might also be picking up a used 6700xt just to complete an 8 card rig as well.

The Nvidia cards will be on raven, and the AMD on ethereum. Installing these Nvidia ones will move 3 older cards over to ethereum as well which are currently on raven. I will be at a fair net increase for both algorithms once it's all done
 

GPM

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Have you looked into staking?
I thought about it before, but I've since sold my eth stash in order to increase my computer count.
 

GPM

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Well I have done it again, another 6700xt and another 3080ti card today. My family is coming over soon for dinner so I won't be able to set them up until tomorrow though. Or maybe I just stay up after they go home and I will do it then. I'm not gonna lie, I am a bit obsessed.

So my YouTube is up to 110 subscribers now. Not sure how this growth stacks up, but it seems to be moving nicely to me. I have been trying to at least put out a short video every day.
 

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