Hi, I’ve been watching the Vosk YouTube channel for a few months. I’ve been impressed with his knowledge of business, mining and cars.
Not here to promote!! I’m only incorporating to take advantage of the tax breaks and expensing my electrical costs. Otherwise, I have nothing to sell, so no worries!!
I’ve been buying GPUs and I’m planning on building an immersion system to move heat outside, while eliminating the wasted power turning all of those fans. Hopefully, I’ll be able to tweak my settings to extract as much hashrate as possible by running cooler.
Unfortunately, I’m limited to a 240V 1Ph 100A Subpanel (about 83A with a pair of used 10kva UPS modules). So efficiency will be key, as it should be these days, I guess.
Team Green all the way, except for (7) RX 6600 GPUs I bought.
I’m hoping to learn a lot, and hopefully sharing my experiences with others who care to listen.
Well, sort of. I’m accumulating GPUs and other Misc parts, while I wait for a bigger Main followed by a subpanel a few weeks later. Also, I want to have my business set up, along with all of the backend s/w to support the tax end PRIOR to flipping the switch.
I’m in no way telling you what to do, and assuming you’re not just trolling me, you do know that gpu mining pretty much died yesterday? Meaning ETH 2.0 merge completed, no more ETH mining. 7 6600s would generate about $1 a day according to whattomine. If you’re doing it as a hobby and to learn about it then go for it! If you’re doing it as a business that intends to profit that is pretty challenging right now.
Not trolling you at all. I figured there would be a large swell of miners dropping off within a few weeks. And the new 4090 is coming out soon. There will be, primarily, gamers going after the new high end cards. So the efficient RTX 3070 cards will be selling for a lot less.
It’s passive income. And scooping up a bunch of RTX 3070 GPUs for less than what they’re going for, now, I’ll have less competition for cards, hashing difficulty and mining pools that look more attractive than the past 24 hours as many just give up.
Now, add depreciation (even on used GPUs) and expensing all of my electrical costs (because, a Subchapter S Corporation allows me to do so), and I should do okay. Not to mention, looking into used solar panels to create large arrays, for a fraction of the cost of new arrays. After all, nothing keeps Uncle Sam off your back like pointing to a “green” and carbon-neutral Cryptocurrency mining farm!!
I’m certainly NOT going to assume the past 24 hours is indicative of things in a few weeks.
BTW, in addition to the (7) RX 6600 GPUs, I also have (5) RTX 3090s, (3) RTX 3080s, (12) RTX 3060 Tis and an RTX 2080 Ti. So, getting at least (25) RTX 3070s is what I’m going to be looking for. Of course, depending on the price, if I can get closer to (100) of them, then I’ll be sitting pretty.
Getting a high Th/s BTC miner, in this market, with another halving next year doesn’t really get my juices flowing. My business model works by mining altcoins and getting paid in BTC, which I can immediately convert to fiat, while hodling a small percentage for future growth potential.
You’ve certainly thought it out. I’ll just throw two more thoughts out at you:
Just for a small example, your 7 6600 rig would cost conservatively let’s say 2500 bucks. And generate $1 a day right now.
You could buy 1 asic sc box miner for $309 and generate about $1 a day… Also run about 25% the power your rig would need. No btc halting.
Second thought: I have a rig with some 6600 and some 3060 12gb GPUs. When I bought them they cost about the same. My 3060s blow the 6600s away performance wise.
I don’t pay retail for any GPUs. My RX 6600s were about $225 each, including the shipping. The majority of my 3060Tis were all purchased for less than $500 each, including shipping (except for 2 that came to $550 each).
The fact is, I bought the RX 6600s as a way of getting some AMD exposure, that’s all. You can probably tell that my preference is for NVIDIA GPUs. The reason I prefer GPUs is they afford me a way to try different combinations and have spares for inventory. Let’s not forget that an ASIC could pull anywhere from 2kw to 5kw. With a 240V 100A Subpanel, my safety factor is ~ 19.2kw to 20kw. If an ASIC goes offline for some reason, then 10% to 25% of my farm is offline while I get it repaired.
If a GPU crashes, I could keep running and not even worry about it. Or, I could pull the component and immediately replace it with a spare unit from inventory. Remember, a defective RTX 3070 would only represent about 0.6% versus the 10% to 25% in the all ASIC alternative.