Year 2020, Learn how to build a cheap mining rig – How can you own Ethereum or bitcoin, one way is you can simply buy them from different exchanges or you can build an ethereum mining rig which is really great source of second income.
Once you set up your mining rig hardware, you can sit back and enjoy the passive income rewards. It can generate upto 300$ to 700$ per month depending on the cryptomarket trends.
For all this you should know how to built an ethereum mining rig. This Article will show you how to setup or built a gpu miner rig i.e ethereum miner
What is Mining Rig and Mining Difficulity ?
It is a set of hardware which is used to make cheap mining rig to mine cryptocurrecy token from the blockchain network.
This involves computer with GPUs running continuously solving blocks of complex hashing algorithm. Essentially mining helps to verify and validate the network transactions.
If mining difficulty is low, you will get good returns and when the difficulty goes high the number of token mine will decrease means you will get less return.
GPU’s Mining difficulty is directly proportional to the number of people mining the pool. If people increases tokes generated will be less.
You are thinking if this is the cases why people are investing in mining, this is because in the coming years the rate of ethereum may goes upto 10000$ high from current rate of 600$ to 900$.
If thats the case its really worth investing in setting up ethereum mining rig.
Different Ways to Mine Ethereum
There are different ways to start mining ethereum as mention below.
- Cloud Mining
- Ethereum Mining Rig
- Pool Mining
Cloud Mining
When you use cloud mining you are paying money to someone else to mine for you. Its simple that you are renting mining hashing power from other people and in return getting coin rewards of mining.
Now many questions are arising in your mind
- Why would someone mine for you when he can mine by himself and have all profits ?
- How to make rig and Why not mine for your self ?
You can have your own rig for mining but you will be responsible for all the maintenance and repair cost required for keeping mining hardware running.
But in cloud mining you don’t have to worry about all these thing. It will avoid all the noise pollution at your place.
Setup Cheap Mining Rig
Mining Alone will gives you the maximum profit. You just turn the ethereum mining rig on and let the machine do the rest of work (making money) for you ? Really !! Is it that easy ?
No its not that easy as it seems to be, you have to compete with other people and if you will be able to solve the block of blockchain than only you get the reward.
And remember you are competing with large number of people having big resources.
It has lots of drawbacks
- Noise Problem – All the fans that are placed for cooling purpose makes lots of noise. you would not have a mining rig near your bed room. Its really annoying.
- Heating Problem – If your equipment gets over heated the chances of damaging also increases. It will be really painful to get them repair
- Space Problem – The more equipment you have the more space you will need.
- Electricity Cost – All equipment will use power, more equipment more power consumption means more electricity bills.
Hardware List used in Ethereum Mining Rig
An ethereum mining rig has same component as of normal personal computer. But the difference is mining machine have higher versions of CPU, RAMs, SSDs etc.
Below mention are the hardware used to building a crypto mining rig.
Many GPUs are in the market, you want to select the best GPU for your budget. You should look for highest hash rate GPU with low power consumption and cost.
You can start with 1 GPU to 6 or 8 GPUs as much you can afford in one rig. Or run multiple rigs as one machine.
Below are the Best GPUs :
- Nvidia GeForce GTX 1070 : An Excellent mining GPU
- AMD Radeon RX580: One of the Best for mining
- Nvidia GeForce GTX 1060: Perfect choice loaded with new powerful capabilities
- AMD Radeon RX Vega 56: A Classic Choice
- Nvidia GTX 1080 Ti: An Outstanding GPU
- Nvidia GTX 1070 Ti: The best Graphic Card Available
Similar : Best GPU for mining avaliable in market.
PSU ( Power Supply Unit )
For an average CPU power supply is very low from 300-500 W. But for GPU mining you need much more power specially if you are powering up to 6 to 8 GPUs.
Our aim should be 1200 W to 1600 W.
The key is to have efficient power for long term running low cost mining machines. Gold, Platinum rated are best in long run these are the standards for rating the efficiency of a computer’s PSU ( Power Supply Unit).
- Silverstone Tek 1500W 80 PLUS Gold
- Corsair AXi Series, 1500 Watt, 80+ Titanium Certified
- Thermaltake 1200-Watt 80 Plus Gold
- EVGA SuperNOVA 1600 T2 80+ TITANIUM
MotherBoard to build a low cost GPU Mining Rig
Most of the motherboard of CPU can handel 1 or 2 GPUs. But we need to uses that supports 6 to 8 GPUs. You can purchase them online.
Most of the motherboard of CPU can handel 1 or 2 GPUs. But we need to uses that supports 6 to 8 GPUs. You can purchase them online.
- Intel Pentium G4400
- Intel Celeron G3930
- Asus Prime Z270-P Motherboard
- Biostar TB85 Motherboard
- Intel Celeron G3260 Processor
- ASRock ATX Z97 Anniversary Edition Motherboard
RAM
Kingston RAM will be just fine. Compatibility in various devises.
RAM 4GB 1600MHz DDR3
One 4GB Module of 1600MHZ DDR3 Memory.
Kingston is the king of PC memory industry
PCI ( Power Riser Cables )
You will need riser PCI to connect motherboard with GPUs.
SSD Hard Drive
- You can use 60 GB SSD or 120 GB SSD drive for installing the operating system(O.S).
- Operating System : you can use 64 bit Linux or Window 10.
- And run your mining software.
Other Accessories
- You will need Mouse, Keyboard and a monitor to configure all the system software settings.
- We can also use external fan for the GPU to prevent them from over heating.
- You also need a case for putting all items together.
Mining in Pool
Pool mining is the most common and easiest way to mine ethereum. It works on the principle of unity is strength means you works with other people together to mine.
Many miners mine with in a single pool to solve the block and when its done the rewards will be distributed among them. Three thing to keep in mind before selecting the pool.
- Minimum Payout
- Pool Fee
- Pool Size
Tools used for Setting Up Cheap Mining Rig
Here are the complete details of tools used for ethereum pool mining
- A Wallet to hold all your mining currency payouts
- GPU Drivers
- A Miner Application
- Mining pool address
- Graphic Card with at-least 3gb of RAM
- O.S, Operating System
I hope now you know how to build an ethereum mining rig………….