I am looking to get into Crypto Mining. Does anyone have any recommendations on any efficient machines that are worth checking out in the $500 or so price range? It doesn’t need to be a power house that has a potential to pull in a million dollars, I’d like to find something that may pay itself off in a year or two but doesn’t kill the power bill, since it might take a little bit of time to get the system figured such as setting up for pool mining and everything else out as I am new to the market.
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Bitmain are killing the profitability of pretty much anything Golshell can make that a home miner can afford to buy and host.
shop.goldshell.com and look at the box miners there are things there, but once the new KDA and CKB miners really start shipping, these are going to struggle to pay for their power, let alone have anything left over.
Asicminervalue.com - and search for “box” indiacates the only one making anything right now is the ST box, which they stopped making.
Maybe go to ipollo.com and look at the V1 mini - the gold one. Don’t get a Classic.
V1 mini is currently losing money, but you can set it to dual mine ETC and ZIL to make it earn more, and it will be in the money when the coins value goes back up.
I’m currenlty thinking about a V1 SE as they are much more efficient, but are over your target price point. If you can go the extra cost, the SE would be a good box to have.
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Look into Chai! https://www.chia.net/
There is the Evergreen Miners, the easy and reasonably priced way of getting into Chai Farming. (https://www.evergreenminer.com/)
Use “Voskcoin” for a discount.
The Evergreen route is priced pretty decently and takes all the technicality and learning curve out of Chia farming and makes it plug and play!
A quick calculation and the difference in cost between going with “Evergreen Miners” vs going “your own route” is roughly 40 - 60 $ per 16 TBs. This depends heavily in how good of deals you get on equipment. So take your time and spend wisely if you go the non-evergreen route.
The main difference your paying for with the extra 40 - 60$ is the Evergreens come pre-plotted, no need to sync, and all the software is handled for you.
You could go both routes, start with an Evergreen Starter pack. And then grow your farm yourself to save money on future growth after you learn the technicalities of Chia Farming.
That is a bonus with Evergreen, they don’t limit you to growing by only using their product. If you know how to plot, you can plot your own Hard drives and make them work with your Evergreen Hub.
Chia is very low power usage, and their PoST makes the mining/farming playing field much more level for the small miner/farmer… no need to wonder when the next newest miner is going to be released or be priced gouged because only a small number of companies can set the price. Hard drives are everywhere and used for much more than mining one specific algorithm…
Chai is definitely worth looking into…
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I’ve been contemplating on the G1 Mini SE Plus and/or a G1 Mini Grin Miner.
I have read about Chai Farming, it looks like you make around $0.01 per TB, the initial investment seems a bit high for ROI, although I don’t know a whole lot about where the future is going with Chia to know if the value will increase in the next 5 years or so. I can’t find a lot of current information about Chia Farmers to know if its worth getting a 6TB or higher Starter Kit. Or if its valuable to buy some used Hard Drives on Ebay and figure out how to plot. If I can save some money and find a way to learn about starting small and increasing to a huge farm like some of you have, I’d definitely love to learn about it all. I have access to a few solar panels to increase efficiency over time, it just seems a bit of a struggle to figure out the whole system and possibilities out there.
Not sure of any POW Home Miner that is in the positive and priced at $500 with the ability of ROI’ing within a year… Would be pure speculate mining (Hoping the coin survives and price goes up to ROI)
All of Goldshell Box miners are in the red except the ST box. And STC is a small project… And still the ROI with current prices is 4 years…
The two miners you are considering are,
G1 Mini SE Plus which has a 13 year ROI currently
and
the G1 Mini Grin Miner is currently in the red…
Pair the above with the potential of more efficient miners being released and all these home miners are obsolete…
I would take a good look at Chai : Home - Chia Network
Read their White Papers : Approach - Chia Network
Get to know all there Documents : Chia Documentation | Chia Documentation
Join Chia Forum : Chia Forum - A community for the Chia cryptocurrency and Chia Network!
Read some of the FUD on Chia…
Once you understand Chia and feel comfortable that it’s a solid project…
It’s the Bear season, this is the perfect timing to get in on any solid project! Often times it might make more sense to buy the coin / token instead of mining equipment, but at the same time mining equipment is also at an all-time low as well…
So, what do you do? Do both. Diversify and buy coins / tokens and miner equipment in projects that you feel are solid and have the best chances of surviving the bear market.
Only spend what you can afford to lose or hold out for a loss for the long-term. Otherwise, you will be forced to liquidate at low times and miss out during the high times.
No one knows which project will come out on top. So, it’s up to you to make the decision.
But if you decide to take the Chia route, the only way to learn is to dive in! Right now, you have a $500 budget. For Chia farming, you need to plot Hard drives and then farm the plotted Hard drives. Although one computer is all that is really needed, its best to have two computers. One low power computer that will farm the Hard drives. And one high powered computer to plot the Hard drives.
I assume you already have a normal computer. For starters you can use a spare normal computer to do the farming. Download the Chia Client ( Download - Chia Network) and start syncing the Full Node. You will need approximately 90 GB of free space on the computer for a Full synced Chia Node with room for it to grow. It will take several days to sync.
Next, use your $500 dollars to purchase a Plotting Computer. You want a decent one that can plot the current K32 plots and also have the ability to plot future K33, K34, and onward plots. As K32 plots will expire eventually… but currently they still have years of use. So don’t be afraid to plot K32 plots.
Find a used enterprise workstation computer off of Ebay. Look for the following specs,
- At least E5-2680 V4 (14 core processor) or better
- 128 GB of DDR4 Ram !!!Minimum!!!
- At least a 400GB Intel DC S3700 Series SATA 6Gb/s 2.5" SSD or better (This is in addition to the computer’s Hard Drive used for the operating system) (Find used on Ebay for $40) (This is a solid commercial grade Hard Drive that will last a loooong time. Avoid Consumer grade Hard drives for plotting, they will burn out quickly)
Here is an example of a decent plotting computer that you can configure with the above specs and still be under $500. Dell Precision T5810 14-Core E5-2680 V4 128GB RAM 960GB SSD FX580 WiFi WIN10 | eBay
Other equivalent brands will work as long as they have the above specs. (Lenovo P510, HP 440,…)
With one of these and using Linux, you should be able to plot one K32 plot using MadMax RamDrive in 30 mins. Granted it takes 144 K32 plots to fill one 16 TB Hard Drive. So plotting one 16 TB Hard Drive would take roughly 3 days…
Once you have a Fully synced Farming Computer and a decent Plotting computer, all you have to do is keep an eye out for deals on Hard drives. Purchase a Hard drive when you save up enough money and then plot it, then add it to your farming computer. Initial investment of 500 dollars will allow you to gradually add Hard drives. Plus, you will be learning the whole way. You will have the knowledge and ability to plot and re-plot when K32 plots expire and or if new plotting ways are discovered.
There are plenty of pros out there that are willing to help new Chia Farmers. They got in at the top and have learned a lot. Join the Evergreen Discord and Chia Forum. Ask questions, take your time, spend wisely and only what your able too. Most importantly have fun with it!
FYI, I’m new to Chia farming and the above is what I’ve learned from others and reading up on Chia… It’s the route I’m taking thus far and I’m having fun with it…
Currently, pyro, I don’t think anything in this bear market is going to roi in a year. especially if its $500. Everything is down, and people still haven’t gotten off most networks (won’t make a lot of sense if you’re really new) so, really just keep looking find some miners for $500 and check www.whattomine.com and see if they make money. Just a note, things could still get worse from here and keep going down. I don’t think we have hit the bottom yet. (not financial advice just what I’ve been hearing) Happy mining!
Hi Eeeknz, good day! we have Ipollo box for sale , here is our latest price list for your reference.
There you go
the new CK Box II is looking good currently. the KD Box Pro will likely be profitable again when the market comes up as well. Unfortunately there isn’t any real value to be had from the lower cost miners, the full size ones are always going to be more efficient and productive compared to their cost. Newer miners will last longer and with less issues, where an older used one like the L3+ you might only get one more cycle out of with minimal gain, if any at all. feel free to reach out if I can help you with anything. https://defi.equipment
If you’ve got a decent internet connection and no data cap, I suggest checking out Mysterium VPN. You can host a node on a Raspberry Pi 3B or greater and earning about $1 worth of $MYST every day or two. Of all the miners and nodes I run, it’s been the most trouble free one. I log in once every week or two to verify that it’s still running and update it but otherwise it’s been rock solid. My node uses about 250-350GB of bandwidth a month. It won’t pay for your internet connection but since I would have that either way and more bandwidth usage does not raise my monthly bill it’s $20-30 a month I wouldn’t have otherwise.
Ive seen the video about the Evergreen Mining rigs, the profitability numbers sounded to be a little off for the lower TB kits on that Youtube video.
Has anyone had luck going the route with the Evergreen miner kit at 6TB or 12TB then adding on later with more Hard-drives found for a deal? The raspberri pi probably setup has some advantages with the lower power?
I do have a laptop, I am just not sure if I want to tie it up with using it to strictly mine since the laptop is power hungry.
The KD Box Pro was another one that looked to be okay to try out the market for Kadena tokens. It makes sense with the new powerful systems coming out that the market will change for the smaller units. It sounds like the best way to go is to save up for a little longer and buy something bigger or figure out the Chia HDD monets and go that route to learn the system a little better.
@PyroManiak
I would recommend solo mining grin. (Once I got 5 blocks in 8 days). You can sometimes find a used miner on eBay for 215. Also to swap it, use trade ogre so you can swap it to bitcoin with no kyc. Then swap it to a crypto you want/like.
I dont know about you guys, but chia farming dosent seem super profitable to me, seeing that 50 Terabytes is only making 18.66 USD a month and that 50 Terabytes would cost around 1,560$ (USD) this information is coming straight from Chia Calculator - How much can I earn farming Chia (XCH)? if you set it to something like 50 terabytes which is reasonable. also pyro if you want goldshells go directly to there official website www.goldshell.com
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I agree Chia hardware is way to expensive. I have looked at a few times but not worth it for me. Would only be a buyer if priced 50% less.
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Hello I ha e several minera, bobcata, deeper xaminer
Yeah but if it were 50 percent cheaper, there would be 50% or more people on it lol and then it wouldn’t make sense again. Maybe eventually we can make some money again
Spend $2800 for less than $60 a month. 4+ year ROI on a coin we don’t know will make it. Just like VOSK if he promotes it you will lose money. I think we are screwed 12k Bitcoin and everything will be down. Altcoins claimed securities will die. Better to buy Bitcoin on the way back up. Maybe get back into mining when liquidations start and they cannot give the negative ROI things away. I cannot believe the prices they are still trying to get on etc and ethash miners that make cents a day and people still buy them. ROI in 10+ years and that is a good deal? 6 month ROI is a good deal good luck finding that. The people selling the shovels are making all the money.
Anyone here ROI and start making money yet???
With Chia, and their PoST consensus, makes it a lot more predictable and fair when it comes to difficulty increases. Combine this with very low energy cost to farm (mine), and you have to treat the ROI differently than the other POW projects out there.
There is no “next new miner to be released” that will make your just bought miner obsolete.
Every project, whether POW or POS has a high ROI. Chia’s 3-4 year ROI (Depending on how you go about it) is pretty good when compared to others. Plus, like mentioned before, the difficulty rise is much more predictable, stable, and fair.
It’s not a bad time to cautiously get into Chia Farming. Spend wisely and keep an eye out for good deals on equipment. No need to rush in.
You have to completely understand how Chia works before treating it like other projects. Specially other POW projects.
It’s the bear market, now is the time to keep and eye out and enter into solid projects.
I agree with you completely Dave. I’m just wondering why so many people are still mining stuff like ravencoin, ethclassic, neoxa, and the like. Why are they still mining it when they are mining at a loss? I really wish people would get off of all of those POW coins to the point where we are at least slightly profitable. From what I’ve heard, last bear market things were slightly profitable on lower electric costs. I’m at 0.06$ kw/h and pretty much nothing except 3080ti tier and up are making a LITTLE bit.