Been watching Drew Vosk videos for many years (don’t hold it against me, lol).
Very new to mining. A friend has asked for me to help out with a GPU mining farm. With over 500 x GTX 1050 Ti cards. From what I can see these are ‘older’ (2016) cards and hence profitability per power consumption etc.
I have extensive IT knowledge from building supporting hardware to software OS. Also been involved in the crypto space since 2017. Explored the costs of mining personally but was dissuaded by the ROI.
Can you please assist with the following. Just asking for some insight to real world experience.
- What software would you recommend for example within Windows 10 or something dedicated like HiveOS (USB or SSD).
- Also which calculators or websites I could check for profitability and coins recommended to farm based on this hardware.
- I have gone to 2cryptocalc (not a plug) to check returns. I am shocked at the daily return for 100x 1050Ti cards… $7.42 Bitcoin Gold. Am I wrong?
Is that possibly based without overclocking.
- Also where is the best place to check for pools?
- I would be setting up triggers, automation and notifications for the farm. Setting up a couple of admins so we can get alerted and react to issues.
Please help me on this journey. I will try and contribute back to this community in anyway I can.
- Don’t ever use Windows for anything, use a distro of Linux. Ubuntu is a good transition, desktop greatly resembles Windows. For your rigs if you’re GPU mining, HiveOS is a great way to go.
- Whattomine is the best calculator
- No, you’re not wrong. Since the ethpocalypse GPU mining is pretty much dead unless you’re getting your power for free.
- Depends of what you’re mining. F2 pool is a decent place to start for everything.
- HiveOS has the ability to set up the triggers you’re referring to.
Good luck on your start and welcome to the community!
I think Spencer pretty much nailed it. I feel a little different on OS’s but I’m sure he has good logical reasons he suggest what he does. Potato/Potato.
for Coins/Tokens to mine, I like Bitcoin (BTC) SHA-256 | Mining Pools < That list has every mining pool and crypto to mine and where to mine it.
Some theory to add about Calculators. They are almost lame IMO. You’re a good example, “500 GPU’s”. So some calculator tells you that a network hashrate and difficulty will allow you to be profitable. You and the other 50,000 GPU’s . So right then, it’s not profitable. Maybe 500 GPU’s gives an edge over other miners with 1-10 GPU’s but plenty of other pro’s exist to combat you.
I would say a rule of thumb. If you pay more than 0.07-0.11 cents per KWH , you are not profitable. If you pay 0.06 cents or less, most mining is profitable.
I’m a fan of finding niches and working them. Be it HODL or some offbeat idea. For instance I used to mine BBS Coin and sell them for 1 litoshi (1 litoshi is 0.0000 0001 LTC). I mined 1,000,000 BBS coins a day and sold for 0.01000000 LTC each day. 0.01 LTC is not a bad haul for a day. Then I hodl’d those from 2017-2021 . So my $3-6 daily mining turned into $30-45 per day, granted I HODL’d for 2 years. And BBS coin kind of died before 2021. It was just a niche. I always put my rewards into BTC or LTC (Coins not tokens) then try to HODL until BTC Halving period.
Chasing a mining calculator has never worked out ‘spot on’ for me. It’s more like chasing the dragon. With millions of other miners being first is not really a possibility in many cases. IMO real hardcore calculator chasers don’t actually follow the calculator per say, they know already. If you watch a pool/network long enough you will notice times in each day the hashrate dies down and difficulty drops. Someone like you (500GPU) basically turns that around as soon as you log into a pool. I guess I would term this the Feng shui of crypto. Your force causes a reaction, often directly against you.