Cryptocurrency GPU mining

[Saad Khan]

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

 

[Ing]

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

 

[GPM]

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.

 

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[Surf&Turf]

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?

 

[GPM]

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.

 

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[GPM]

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.

 

[GPM]

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]

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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[Surf&Turf]

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]

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.

 

[CareCPA]

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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[rc08234]

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.

 

[Johnny boy]

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]

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.

 

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[GPM]

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

 

[kubikdanon]

Have you looked into staking?

 

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[GPM]

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]

A bigger factor than the peak power output is the amperage on the 12V rails. If the PSU can't supply enough amperage, it doesn't matter what the peak power output is.

I wouldn't go with anybody other than Corsair or Seasonic for PSU.

I have some corsair and they are pieces of junk. From my experience the best consumer PSU are EVGA.

I have some coolmaster which also seem ok. I have a single 1000 watt FSP power supply that is such a piece of junk.

Eventually I would like to run completely on server PSU's

 

[GPM]

I am running 1,543 MH on Raven and 2,370 MH on Ethereum

Total GPU count is 95

 

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[GPM]

Up to 201 subs on YouTube right now. I feel like it is picking up some steam now.

I got another EVGA FTW3 3080ti today. Two more 8-card server case setups arrived in the mail, and my cheap test CPU from China showed up as well. So I have a lot of stuff to play with over the next couple of days.

 

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[MA81]

Have you posted your YT link?

I skimmed the thread but didn't see anything.

 

[GPM]

I have not posted it... Maybe I should? I am a very private person, and there is literally only one person on here who knows this stuff who I consider a very close friend. Hmmm... I will think about it.

 

[MA81]

What the heck. Here we are. This is the video I posted a few hours ago, first of a new series. I am going to be talking about a general overview of what I have, and where I am going. I'd like to do it every Monday.

YouTube goodness

The link is for Colin Talks Crypto webpage. Not sure if that's you since he mainly talks about trading?

 

[GPM]

The link is for Colin Talks Crypto webpage. Not sure if that's you since he mainly talks about trading?

Well that is odd. It has been fixed

 

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[GPM]

220 YouTube subs now.

I got my server cases and the rest of my cards hooked up last night. 100% running now.

96 cards!

Roughly 1.45GH on Raven and 2.56 GH on ethereum right now. I moved a little but of stuff back over to Eth.

I am looking at getting 2 more 6700xt and a 6600xt card right now. I am curious to try out the 6600xt and benchmark it. It also adds another card that I can benchmark for youtube. I have not yet done any of these videos, but that alone is a ton of content. I seem to get a lot better hashrates than the guys on YouTube doing crypto with some of these cards. Last time checked the consensus is that 3080ti gets like 54 hashes at like 340 watts on Raven. I have 9 of them doing 58 @325 watts.

 

[GPM]

242 subs now

I found out about a fork of Raven called Ravencoin Lite. I guess it has been mineable for about 2 weeks now. I jumped on last night with 7 3080ti cards, and added another 3080ti this morning. So far I am up to about 30,000 coins.

I had the chance to do this with the original Raven back in 2018, and for whatever reason I decided that it would be too much work and never bothered. Fast forward to today and I am dedicating a significant hashrate to the Raven network. I figured it was worth a shot.

I am going to be mining to RVL for maybe 1 week with these cards. So this will end up being something along the lines of swapping 3-4,000 RVN for RVL if you considered my missed out RVN earnings. I don't know how much I will end up with as the difficulty is exploding on RVL so far. The mining power pointed at RVL has almost doubled from 12 hours ago.

Some guy commented on my YouTube video that he started mining with rx580 cards 2 weeks ago and was earning 52,000 coins a day! For reference I am using cards that are literally 4x more powerful, and had 7 of them for 12 hours, and still did not earn as much as he was. I am curious to see how 8 of these cards work and how much they pull in.

The coin cap is pegged at 21 billion, the same as Raven.

I am going to film an update tomorrow morning with some more details on how it has performed.

I also just ordered a GoPro 10 for some 1st person rig assembly videos (and mountain biking stuff too!). My last GoPro was a 3+ silver. So this should be a fair upgrade. This should arrive next week sometime.

 

[GPM]

Did my first ever test specifically for YouTube throughout the day. Tested a full rig of every LHR card. A 3080ti all the way down to a 3060. The test was to try out the new T-Rex miner LHR unlock.

It was not even close to as profitable as just mining Raven, but it's an awesome step to giving these stupid nerfs the middle finger.

Testing my LHR build

I am up to 523 subs on YouTube. It is funny how fast your perspective can change. I was originally targetting end of October for monetization. It's doing well with me uploading every day, and now after seeing the growth I can achieve I feel like I need to do more to make it more successful. Suddenly blowing away my expectations is not even close to good enough.

 

[GPM]

I am at 644 subs on YouTube now. Yesterday was the first day in over a month that I had not uploaded a video. I did a huge mountain bike in the morning and just burnt myself out for the rest of the day. All I did was take care of my kids and then crash to bed as soon as the kids were asleep.

There was a drop at all the BestBuy locations in Canada today. I stood in line for about an hour, waaaay near the back. I guess people were lining up since about 4am to get a card. 90% of these are all going to be scalped. I was going in the hopes of getting a 3070 or 3080 Founders Edition, but of course those ones all sold out to the guys at the front.

I did end up getting an EVGA 3070 for MSRP though. It came to $944.49 Canadian after all taxes. Since this in an LHR card I will be setting it up on Raven for now. I tried getting it on my B250 board, but that is still causing me issues. So I need to go get one of my wood cases later today and set it up using a different motherboard. It should be up and running later tonight. I will film the process (so far it has all been nothing working) and use this as my video for youtube for the day.

 

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[DoppleGanger]

I’ve got an rx580 not doing anything, what would you suggest as a starting point? Raven coin?

Might have to visit Best Buy to see if they have any other stock on hand

 

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[DoppleGanger]

be careful about what pool you're using. Some of them use a wonky scheme where you're not really getting ethereum, you're getting credits. Make sure to read the payout conditions carefully.

I’m giving ethermine a try