Mining on small home farms is becoming popular again. What is needed in order to collect own a rig at home?
Rig mining is a home farm for the extraction of digital currencies, which most often representsa special computer with several video cards (fromThe number and quality of the graphics are determinedPower Riga.
Should you be mining in 2020?
In times of crisis, pandemic and volatilethe political situation, cryptocurrencies have established themselves as a stable asset. Moreover, the economic downturn has benefited the cryptocurrency industry because it has revived mining as a form of passive income.
Unsurprisingly, over the past few monthscountries with weak economies have become record holders for the purchase of video cards. In Abkhazia, where mining has been banned since 2018, residents spent more than $ 500,000 on mining equipment in just six months. Transnistria has not lagged behind either. This unrecognized republic has “invested” nearly $ 300,000 in digital currency mining equipment.
The popularity of mining is growing due to the highcryptocurrency prices. Over the past year, Bitcoin has grown by more than 100% and is now trading around $ 15,000, while Ethereum again broke through $ 400 and reached $ 440.
Let's figure out what we need to assemble the manying rig at home on our own.
Mining rig components
A cryptocurrency farm consists of a computer withseveral video cards without a monitor. The case contains the graphics cards (often the cards are in a separate case), the power supply, the motherboard, and the cooling system.
Connect a monitor and the unit can become a regular computer on which you can work or play your favorite video game.
This is how the list of components of a home installation for mining looks like:</p>
- An ordinary motherboard with several video cards.
- HDD or SDD for placing a cryptocurrency wallet with at least 1 TB memory. (It is worth remembering that SDD is best suited for mining ETH and ETH20 tokens)
- Several video cards are the most important components of the rig. They are the ones who decide what kind of cryptocurrency the user will mine and how much profit he can get.
- Power Supply. A farm with four or more graphics cards usually requires multiple power supplies. Usually, miners interconnect several 750 W blocks.
- Power adapter for video cards. Video cards are connected to the motherboard using special expansion cards or adapters. There are many different types and models of adapters.
- Power switch.
- Cooling system. We recommend using multiple coolers in order to increase the airflow.
Another important detail is the frame. It is better to use it from wood or metal. The rig size will be slightly larger than the frame size due to various protruding parts - adapters and coolers. The dimensions depend on the number and dimensions of the video cards used.
After purchasing all the components of the rig, you need toassembling is an easy task for a person who has done at least a little bit of computer equipment. For beginners, there are many online guides and videos on YouTube.
The last steps are installing the mining software. Instead, you can choose a mining pool that will provide you with the software you need.
Best graphics cards
Typically, miners use three to sevenvideo cards. Users can connect both ten and fifteen graphics cards to the motherboard, but the Windows 10 operating system can only detect seven graphics cards.
There is a solution for this problem - specialized mining software based on the Linux kernel. In this case, it is important to choose the right motherboard - ASRock Pro BTC + series or higher.
At the moment, miners manage to get the mosthigh revenue using Nvidia GeForce RTX 2080 Ti and AMD Radeon VII graphics cards. Nevertheless, the economical mining farm with AMD Radeon RX 580 and Nvidia GeForce GTX 1660 also brings a steady income and pays off much faster. It should be remembered that in the video card market, top models change very often, so the best video cards for mining are constantly changing.
The important issue is the cost of electricity
Over the past 10 years, the mining industry has evolved from a hobby for geeks to a high-tech industry with high barriers to entry.
After buying components for the rig, the miner has a new expense graph - electricity.On average, the rig mining consumes the following amount of electricity:</p>
- Video cards in the rig of 6-7 cards, depending on the power and algorithm of mining, consume360 to 1500 W.
- The motherboard, power supply, HDD, and RAM consume up to 100 watts.
- The cooling system consumes from 20 W to several kilowatts.
How can a miner reduce the cost of electricity? Most of all electricity is used by video cards. By properly adjusting the operation of video cards, you can significantly reduce power consumption. Some miners use their own solar or wind power plants, but not everyone can afford such an investment.
In conclusion, we can say that today mining -this is a great way to passively earn money. Setting up your own rig is one of the best and easiest ways to try your hand at mining. It will take a little investment and time to figure out in detail how the system works. However, it is more profitable to mine small cryptocurrencies in the home barn than bitcoin and highly liquid alts. For mining such coins, special ASICs are best suited.
Randy Redi, CEO of Mining Rig Rentals, is confident that building your own rig is more fun than buying a ready-made farm or participating in cloud mining. He gave advice to novice miners:
I recommend starting with a small rig and gradually increasing it as you learn more about mining and start making steady profits.
Subscribe to ForkNews on Telegram to stay up to date with the latest news from the world of cryptocurrencies
According to the materials cointelegraph.com