“ethereum mining rig shopping list best”

“ethereum mining rig shopping list best”

Note that Bitcoin ASIC chips generally can only be used for Bitcoin mining. While there are rare exceptions – for example chips that mine both Bitcoin and Litecoin – this is often because the chip package effectively has two ASICs: one for Bitcoin and one for Litecoin.
So, with our eyes on Ethereum in particular, being the new rising star, that’s exactly what we did here at HotHardware (1 ETH = ~ $277.85 as of this publication). We also learned some handy tips for tweaking your mining rig for maximum hash rate throughput, while keeping your heat and energy consumption at a minimum. We will be sharing these as well has some key hardware benchmark metrics and suggestions to help boost your personal mining potential.
Mining can often be a quite strenuous process that is not error free. So if you are setting up your own miner, it can be useful to interact with some communities in order to get proper guidance. One of my favorite communities is Reddit, and although Reddit has a vast array of sub-communities, or subreddits, there are some for mining. Such as:
Dwarfpool – The last of our top performing Ethereum pools is Dwarfpool (https://dwarfpool.com). Dwarfpool uses a RBPPS payment method (round based pay per share), which is based on the PPS method. Autopayouts are done hourly and they guarantee 100% uptime due to their distributed infrastructure. Dwarfpool makes up about 13% of the network hashrate.
Step 3: Now that you have an ethereum address and you have installed and got Ethminer up and running you need to tell ethminer what to do – and this basically means telling ethminer to connect to your mining pool and telling the mining pool where to send your mined altcoins – your address.
Ethermine is a high-performing ether mining pool and is a direct successor of the ethpool.org. This miner offers the same level of service and efficiency as its predecessor, ethpool.org but makes its payments via the traditional PPLNS mode. In ethermine pays instantly and individual miners on this platform will receive their ether as soon as they attain the set payment threshold.
In conclusion, while there are many risks, all can easily be avoided by either implementing standard safety procedures, or by making sure that your rig will last a long time by buying the best parts you can. But all in all, while you will receive a great amount of rewards for mining, you can also lose a lot of money if your rigs break down due to misfortune or just plain old bad luck.
The same thing applies to Ethereum. The only way to utilize Ethereum is with the product from mining. However, mining Ethereum means more than increasing the volume of Ether in circulation. It is also necessary for securing the Ethereum network as it creates, verifies, publishes, and propagates blocks in the blockchain.
Using below table, you can check how profitable it is to mine selected altcoins in comparison to ethereum. Please note that calculations are based on mean values, therefore your final results may vary. For best results fill all fields with your hash rate and power consumption. Input Groestl hash rate, not Myriad-Groestl. Default values are adapted for three 480 cards.
New UserHello, could someone help me out to solve issue with SimpleMining OS, this is what I’m keep getting when I boot up SMOS, any ideas on what could be wrong, I’m just tired of mining on windows (i.redd.it)
The Ethereum Directed Acyclic Graph (DAG) file is stored in the GPU’s VRAM and it increases proportionally to mining difficulty. A new DAG (Directed Acyclic Graph) is generated for each epoch around every 30,000 blocks. This DAG must be downloaded in order to continue mining. Note that older cards are still available but their performance will degrade with each new epoch.
In order to mine you need to perform as many operations as possible in an interval of time. For ehtereum the best computing power is delivered by graphic cards with powerfull GPUs. Other coins, like bitcoins can be mined with specialized hardware calles ASIC which are a many order of magnitudes faster than the gpus.
hey! first of all thank you for your immediate reply. Now the computer, after that it verifies the 4 things, it says “esecution of code impossible because “openCL.dll” was not found. Can you help me again?
Here is our formula working out monthly profit: M – W = P. M is the value of the amount of coins you mine per day, this can be found through sites like coingecko where it will tell you how much your crypto is worth. W is the amount you will be spending on kWh every month. This will then give you P which is your monthly profit. You can also find your daily profit by inputting your daily mined crypto into M and daily power usage in for W, the same can be done for weekly calculations. To find your real profit however, you first need to pay back the first investment into your mining rig. To find out how long this will take, you must use this formula: C / P = D, where C is the cost of your mining computer, P is the same as before (monthly profit), and D is the time it will take to pay back your computer, either in months, weeks or days. This depends on what you use for the first calculation. After you pay back the rig, every cent you make will go towards your total profit.
Step 1: If you have gone through our guide here on how to set up your computer to mine ethereum you are most of the way there – in fact all you need is an address which you can get from the EthDev wallet – which is basically a nice interface to doing exactly the same process. The reason you need a wallet or address is to tell the pool where to pay your money! You don’t need to sync the blockchain – the mining pool provider will do this for you!
In choosing the most efficient GPU the most important thing is striking a balance between how powerful you want your rig to be and how much you are willing to spend on the GPU itself and the electricity.
If you are looking to build a mining rig, be sure to check my other recommended build components in my complete GPU Mining Rig Build Guide. If you are looking to mine Litecoin, be sure to check out our Litecoin Mining Hardware Review.
For Windows, the Genoil miner has proven to be the most effective, and I’ll show you how to set this up. However, if you’re interested in other alt-coins, then you should also consider looking at Claymore miner.
Let’s look at these two words, hash and rate. A hash is a proof of work calculation that you do within a block. Once that block is done you move to the next one. All mined blocks are included within the blockchain. Hash rate implies the number of proof of work calculations in the network per given time. It is usually denoted per second.
All transactions in Ethereum (and other cryptocurrencies) are encapsulated within discrete blocks. These blocks are comparable to the batches of transactions which banks send to each other, except in Ethereum they occur every 15 seconds (on average). Blocks are identified by their “height,” starting from 0 and incrementing sequentially until the current block.
1x Power Supply –  1000 Watt PSU – The key here is to have an efficient power supply that will save you over the long run in electricity costs. Look for Gold or Platinum rated (as opposed to silver or bronze). This is the industry standard for rating the efficiency of a computer’s power supply unit (PSU). If the model linked above is unavailable, I’d also recommend this model and this model.
Ethereum Mining can be done in the comfort of your home. It requires script writing and some knowledge of the command prompt. It is quite easy and exciting once the process is broken down into manageable steps.
Ethereum mining can be incredibly lucrative, if you have the proper hardware to do it. You can’t just use the same computer that you use for everyday activities like watching YouTube or sending emails. You need a computer with a high powered graphics card because mining for ether is very time consuming (on your ethereum mining hardware) and on your electric bill.
Cloud mining is definitely the easiest way to start mining, as you can purchase a mining contract whenever you like. You do not need to setup a rig or even have an internet connection, the company which hosts the miners will do this all for you. You’re only required to pay monthly for the hashing power, however these contracts can turn out to be quite unprofitable, as contracts tend to last for 24 months, and with the networks increasing difficulty you may start losing money every month. Another negative is that you will not be able to sell the rigs, and will not be able to cancel the contracts. However if you do decide to start cloud mining, one of the largest companies for this is Genesis Mining. Nice Hash is another cloud mining company which unlike Genesis does not lock you into a contract and allows you to cancel any time you want, making this an excellent option. Nice Hash also allows you to sell your hashing power for Bitcoins, so you can set your own mining rig to mine on the Nice Hash servers and earn Bitcoins. However, this can turn out to be less profitable than mining an altcoin by yourself. You can use this code: MRT1YF on Genesis Mining for a 3% discount on any purchase!
Advanced course on cryptocurrency trading! This course requires no previous knowledge and is presented in a way that everyone should be able to understand. That being said we highly recommend taking our free Cryptocurrency Trading Explained course if you are brand new to the space.
2. PPLNS means payment for the last n shares (Pay Per Last N Shares).This is more a variable number based on the luck of the group. Therefore, if the group is lucky and extracts more blocks in a certain period, you will get a higher payment. Of course, if the mining group has bad luck, you will get a smaller profit. If you are running 24 hours a day, 7 days a week, and do not log out frequently, you will get approximately 4% more ETH using PPLNS compared to PPS for Ethereum extraction.
Pool fees are usually pegged as a percentage and you have to foot the payout costs, which will be deducted from your earnings. While mining from a pool is advantageous if you don’t have the heavy mining hardware, the rewards and the pay you get might not be equal to what you’d have received if you mined solo. Some pools may pay you, plus all rewards while in others you might not get paid for uncles.
Figuring out how to set up all the mining equipment for Ethereum can be a daunting task for someone without the technical expertise. With the market expanding, more and more people are looking to invest in Ethereum. What some people may not realize though is that you can also mine Ethereum to passively generate an income every month.
The Coin Warz calculator is another useful calculator, though more complicated than the rest, it comes with some quite unique features, such as allowing you to input your hardware cost. The calculator will then use this information to estimate how long it will take to pay back your computer. Another unique feature is that it if you’re solo mining, it will tell you how long it may take to mine a block by using your hash rate. A third useful feature is that it shows you how much you can trade your mined coins for in Bitcoin, which is useful if you think Bitcoin is only going to go up in price. You can use this calculator for about 100 different coins making it quite useful when trying to find out what your other mining options are.

One Reply to ““ethereum mining rig shopping list best””

  1. The processing power of the cards is added from the spreadsheet shared in the thread mentioned above. The consumption is taken from the same place or from and the price is manually taken from amazon and neweggs(depending where is cheaper, the links contains affiliate code).
    Nvidia’s GTX 1070 isn’t just a great graphics card for gaming, it’s also an excellent mining GPU. This is because it manages a high hash rate of around 30 mh/s without needed too much power. Remember, the more power a GPU requires, the more expensive it is to run, which will eat into your cryptocurrency profits. As with many recent Nvidia GPUs, the 1070 is on the pricey side, so you will have to take an initial hit when starting up, but if you’re into cryptocurrency mining for the long run, the 1070 is easily the best mining GPU currently available.

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