Building mining rig of 3000 $

[Ahmedimg]

It's my first mining rig and I set a budget of 3000 $ (I'm more into Nvidia GPU's and electricity cost at my country is 0.07$/kWh)
Need recommendations and online store to buy from.

 

[knightslugger]

Country of Origin?

[Ahmedimg]

1 minute ago, knightslugger said:

Country of Origin?

Egypt

[dalekphalm]

5 minutes ago, Ahmedimg said:

It's my first mining rig and I set a budget of 3000 $ (I'm more into Nvidia GPU's and electricity cost at my country is 0.07$/kWh)
Need recommendations and online store to buy from.

 

In case you weren't aware, the price of BTC just took a huge dump, and lost over 30% of it's value.

 

Mining is an extremely risky business.

Don't invest $3000 into mining hardware, unless you can accept the risk that you will make none of it back. You might break even. You might make profit. Or you could just as easily lose money.

[Ahmedimg]

5 minutes ago, dalekphalm said:

In case you weren't aware, the price of BTC just took a huge dump, and lost over 30% of it's value.

 

Mining is an extremely risky business.

Don't invest $3000 into mining hardware, unless you can accept the risk that you will make none of it back. You might break even. You might make profit. Or you could just as easily lose money.

I already decided to invest money on cryptocurrencys either by mining/trading or trading only (I started already trading) and I think trading is more risky (correct me if I'm wrong)
for the moment I need to have a view of what I'll need for that rig, won't buy it before mid-Jan though (need to watch the market even more)

[knightslugger]

1 minute ago, Ahmedimg said:

I already decided to invest money on cryptocurrencys either by mining/trading or trading only (I started already trading) and I think trading is more risky (correct me if I'm wrong)
for the moment I need to have a view of what I'll need for that rig, won't buy it before mid-Jan though (need to watch the market even more)

All you really need is a USB drive adequate in capacity to hold the operating system you intend to use, a motherboard capable of holding the amount of GPUs you intend to install, an adequate of RAM (usually 4GB is plenty for a linux rig) a low power CPU (a dual core celeron would suffice) and a power supply capable of feeding all the components you intend to power.

 

and of course, a place to put everything ;).

[cj09beira]

a cheap celeron, a mining mobo, a high wattage psu, and loads of rx 480s/470s or 1060 6gb

[Ahmedimg]

5 minutes ago, knightslugger said:

All you really need is a USB drive adequate in capacity to hold the operating system you intend to use, a motherboard capable of holding the amount of GPUs you intend to install, an adequate of RAM (usually 4GB is plenty for a linux rig) a low power CPU (a dual core celeron would suffice) and a power supply capable of feeding all the components you intend to power.

 

and of course, a place to put everything ;).

any mobo will do the job you mean? no specific models?

Give me a manufacturer name for the GPU (for 1070ti we discussed )
and I have an empty room for it so it's okay

[knightslugger]

31 minutes ago, Ahmedimg said:

any mobo will do the job you mean? no specific models?

Give me a manufacturer name for the GPU (for 1070ti we discussed )
and I have an empty room for it so it's okay

Zotac 1070ti minis. Otherwise i think EVGA is selling full size 1070ti's for the same price through their webstore, but i think they might need more than one connector whereas the mini's only need the one. not 100% sure on that.

 

If you plan to expand your rig any, get a B250-BTC board. otherwise any board will do. You'll be running each GPU in 1x mode anyway.

[aubryscully]

1 hour ago, knightslugger said:

Zotac 1070ti minis. Otherwise i think EVGA is selling full size 1070ti's for the same price through their webstore, but i think they might need more than one connector whereas the mini's only need the one. not 100% sure on that.

 

If you plan to expand your rig any, get a B250-BTC board. otherwise any board will do. You'll be running each GPU in 1x mode anyway.

I wouldn't go for the mini cards solely for the heat dissipation. Bigger cards tend to stay much cooler at higher overclocks due to the increased heat dissipation capabilities provided by the larger coolers and greater quantity of fans.

[Ahmedimg]

 

3 hours ago, knightslugger said:

Zotac 1070ti minis. Otherwise i think EVGA is selling full size 1070ti's for the same price through their webstore, but i think they might need more than one connector whereas the mini's only need the one. not 100% sure on that.

 

If you plan to expand your rig any, get a B250-BTC board. otherwise any board will do. You'll be running each GPU in 1x mode anyway.

Thank you, I'll check it

2 hours ago, aubryscully said:

I wouldn't go for the mini cards solely for the heat dissipation. Bigger cards tend to stay much cooler at higher overclocks due to the increased heat dissipation capabilities provided by the larger coolers and greater quantity of fans.

So what do you recommend? it will be difficult to keep my GPU's cool especially during summer time as I live in a very hot climate place

[aubryscully]

14 minutes ago, Ahmedimg said:

 

Thank you, I'll check it

So what do you recommend? it will be difficult to keep my GPU's cool especially during summer time as I live in a very hot climate place

The 1070 Ti seems like a neat card for mining, so its not like I would advise against it. I would just advise against one of the mini ones. If it were me, I would get one with a pretty beefy cooler. I haven't done much research on the 1070 Tis in particular, but I've had good luck with Asus, Gigabyte, and EVGA cards. I would do some googling and see some benchmark results between several of the aftermarket ones to see which one is best for you. Sorry I don't have any exact recommendations for that one

[Ahmedimg]

5 minutes ago, aubryscully said:

The 1070 Ti seems like a neat card for mining, so its not like I would advise against it. I would just advise against one of the mini ones. If it were me, I would get one with a pretty beefy cooler. I haven't done much research on the 1070 Tis in particular, but I've had good luck with Asus, Gigabyte, and EVGA cards. I would do some googling and see some benchmark results between several of the aftermarket ones to see which one is best for you. Sorry I don't have any exact recommendations for that one

your point is clear and I'll do my search
thank you

[Redicat]

Mine Bitcoin

SHA-256 can always be used for other alternatives

I'd invest in SHA-256 hardware it'll get you rich fast

[JoostinOnline]

9 hours ago, cj09beira said:

a cheap celeron, a mining mobo, a high wattage psu, and loads of rx 480s/470s or 1060 6gb

I thought Bitcoin was CPU-intensive.

[Redicat]

18 hours ago, JoostinOnline said:

I thought Bitcoin was CPU-intensive.

Bitcoin uses the SHA-256 Algorithm the printed pieces of mine hardware look like this:

 

They are they are efficiënt Specific Purpose Computers Designed to complex Algorithms at an unbeliveable fast rate and yes this can be used to mine bitcoin encrypt data match data solve math like a calculator etc..

 

application-specific integrated circuit

[dalekphalm]

15 hours ago, JoostinOnline said:

I thought Bitcoin was CPU-intensive.

Bitcoin is no longer easily mineable with either a CPU or a GPU. 

 

Any serious BTC mining is done via ASIC dedicated mining hardware. 

[bcredeur97]

On 12/22/2017 at 11:39 AM, dalekphalm said:

In case you weren't aware, the price of BTC just took a huge dump, and lost over 30% of it's value.

 

Mining is an extremely risky business.

Don't invest $3000 into mining hardware, unless you can accept the risk that you will make none of it back. You might break even. You might make profit. Or you could just as easily lose money.

get base system (mobo, psu, etc.) and 1 gpu. 

 

wait for gpu to pay for itself, then buy another. wait for next gpu to pay for itself off the benefits of having 1 already paid for (it'll pay for itself 2x faster), then get another one. do this till you're at maximum reasonable capacity, then after that it's all profits from there.

 

 

[dalekphalm]

1 minute ago, bcredeur97 said:

get base system (mobo, psu, etc.) and 1 gpu. 

 

wait for gpu to pay for itself, then buy another. wait for next gpu to pay for itself off the benefits of having 1 already paid for (it'll pay for itself 2x faster), then get another one. do this till you're at maximum reasonable capacity, then after that it's all profits from there.

 

 

That's probably the safest strategy.

 

But there's no guarantee that the GPU will pay for itself. If one lives in a location with cheap electricity? The odds are higher. But as with anything to do with Cryptocurrency, it's a gamble no matter what.

 

It's entirely possible for the Hash difficulty to spike so high that you start losing money after factoring in electricity costs.

[bcredeur97]

1 minute ago, dalekphalm said:

That's probably the safest strategy.

 

But there's no guarantee that the GPU will pay for itself. If one lives in a location with cheap electricity? The odds are higher. But as with anything to do with Cryptocurrency, it's a gamble no matter what.

 

It's entirely possible for the Hash difficulty to spike so high that you start losing money after factoring in electricity costs.

yes. but at that point everyone else starts losing money too... and assuming everyone is on an equal playing field (algo's are gpu/cpu only) then if you're patient... your profits will come back

 

but cheap electricity is super important... where i live it's only $0.03 per KWh which basically makes it one of the cheapest places on the planet to get electricity at. so it's extremely beneficial to mine here.

[dalekphalm]

Just now, bcredeur97 said:

yes. but at that point everyone else starts losing money too... and assuming everyone is on an equal playing field (algo's are gpu/cpu only) then if you're patient... your profits will come back

 

but cheap electricity is super important... where i live it's only $0.03 per KWh which basically makes it one of the cheapest places on the planet to get electricity at. so it's extremely beneficial to mine here.

Indeed but all things are not equal You are such an example.

 

My electricity rates vary from $0.08/kWh to $0.15/kWh (time of day billing - and I think those rates are going up). So if we were both mining the same Alt-coin (because GPU mining BTC is goddamn pointless) with the exact same hardware, I'd be screwed, and you'd be okay to wait it out longer.

[bcredeur97]

1 minute ago, dalekphalm said:

Indeed but all things are not equal You are such an example.

 

My electricity rates vary from $0.08/kWh to $0.15/kWh (time of day billing - and I think those rates are going up). So if we were both mining the same Alt-coin (because GPU mining BTC is goddamn pointless) with the exact same hardware, I'd be screwed, and you'd be okay to wait it out longer.

you could also take the risk that the coins you are mining now will be worth way more in the distant future.

 

but yeah... risky. lol. could just be spending a bunch on electricity for no benefit

[dalekphalm]

53 minutes ago, bcredeur97 said:

you could also take the risk that the coins you are mining now will be worth way more in the distant future.

 

but yeah... risky. lol. could just be spending a bunch on electricity for no benefit

Exactly. And yeah you could bet on the coins being worth lots, but that's literally speculative investing, which is the most risky type of investing.

[Nicnac]

Buy a titan V lol