“ethereum pool mining vs solo mining”

“ethereum pool mining vs solo mining”

The conversion process isn’t completely straightforward, though. In the case of hardware miners, you can work out the monthly running cost by multiplying your electricity charge (ie: $ per KWh) by the power consumption of the unit and by a conversion factor of 0.744 (the ratio of seconds per month to joules of energy per KWh).
Disclosure: Mining equipment metrics are calculated based on a network hash rate of 231,841 GH/s and using a ETH – USD exchange rate of 1 ETH = $ 685.09. These figures vary based on the total network hash rate and on the ETH to USD conversion rate. Equipment cost can vary, block reward is fixed at 3 ETH and future block reward reductions are not taken into account. The electricity price used in generating these metrics is $ 0.12 per kWh. Network hash rate varies over time, this is just an estimation based on current values.
These figures will change based on when you run this analysis, but for purposes of the example here we would net 109 ETH annually. If sold at the current price, $1537 will be earned from which we subtract the electricity cost of $493. This nets a respectable profit of $1045.
AMD introduced their new 14 nanometer (nm) RX series card at a hard-to-resist $200 price in 2016 and crypto currency mining became much more profitable as the smaller 14nm fabrication process gives this card impressive performance and low power consumption.
You are more than welcome to do your own research, buy the components on your own and build the thing from zero. However, if you are short on time and want to get your own plug and play mining rig at a reasonable price, then I am here to help.
First, head over to Etherscan’s Mining Calculator, which provides up-to-date figures for the current price, block time and network hashrate (as measured in Gigahash per second aka GH/s; denoting billions of calculations per second):
Building your own is much cheaper, and (arguably) more fun! If you’re handy, you can put together a simple aluminium frame yourself for a fraction of the cost of buying one. If you don’t have the necessary skills or tools for that, I popularized building mining rigs inside plastic crates back in 2013, and that still works fine today (for up to 4 GPUs or so, anyway). At the bottom of this post, you’ll find instructions on how to build a plastic crate “case”.
Power supply units: $300. We recommend good-quality Corsair CX750M – three units will be more than enough for one rig ($100 each PSU). That’s true; many prefer some 1600-watt no-name Chinese “magic” PSU. But it works, they say. We didn’t check though. Three CX750M units for 8 GPUs: you can easily connect any eight GPUs you want using cables included in Corsair’s package, plus you’ll end up having some extra power left.
Ethereum Mining is a computationally in-depth work that requires a lot of time and processing power. A miner gets rewarded for providing solutions to challenging math problems via blockchain technology, just like bitcoin mining. Ethereum is the first ‘world computer’. It is a decentralized network that can be used by anyone is capable of running applications with no possibility of downtime, censorship or fraud.
Cloud mining is basically a service that will allow you to pay for hashing power, which is hosted in data centres and sold in Gigahash/seconds (GH/s). Many cloud mining plans are available online but it is important to choose a reliable provider.
If you’re not already handy with computers, Linux/Windows scripting and command line, hardware troubleshooting, know how ethereum works, and can wait 2+ months to get the possibility of breaking even on your hardware purchase, you’ll get more for your money and time by focusing on learning how cryptocurrencies and trading work and perhaps invest some money (but only as much as you are willing to lose) and start trading it.
If a quieter and exceptionally cooler home and/or work place is paramount, then purchasing components/equipment that usually requires elaborate cooling and ventilation systems, can prove a deciding factor. The noise can prove excruciating over time, especially you are mining close to a place of work. Electronic dust is a problem too, for breathing as well as for the wear and tear of other appliances/parts.

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