What is Your Suggetion Starting Mining with $5000 - $6000 of Budget

Dear All …

I Want to Start Mining and My Budget for Investment is between $5000 to $6000

I am Very New in Mining field so please Suggest some points. Your suggestion Helps me Lot…

  • Which Coin is Good to Mine ? (BCOZ Ethereum is Dead once ETH 2.0 && BITCOIN has Just Recent Halving So Profit is Reduced)

  • Also Suggest me Which is Good Miner to starts ?

Model : Antminer S17+
Output : 73 TH Bitcoin Miner
Power : 2920 W


Model : Antminer S19 Pro
Output : 110 TH Bitcoin Miner
Power : 3250 W

OR Do i go with GPU Mining as it has various option to mine and also resell cost is good ??

GUIDE ME PLEASE … Its My Dream to have my own Mining… I have Low cost power source…

Waiting for Reply … Your suggestion is So valuable for me…

It really depends on your electricity cost. I don’t think either of those would make my list with average or higher electrical rates.

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Option 3,wait till the next Toddminer Combo CH comes out,unless of course your trying to mine BTC…Right now you can buy the 2nd batch of Goldshell HS3,like $4K shipped. This machine makes like $100 a day,but 2nd batch is coming soon and price will most likely drop,also this machine hashes at 2000Gh/s,the New Combo comes out with 145000Gh/s /2300 watts which smashes the HS3. Alsoooo,it mines 2 different currencies that have a large block reward,If I was you I’d wait,no specs are out on this machine yet but its coming…

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@Sandeep_Patel My advice would be to avoid any piece of equipment that is greatly overpriced, does only one thing and will be worthless as soon as the manufacturer is able to dump as many of them as they can on the market. That is, don’t buy an ASIC.

I had a budget of about the same as you back in January of this year. I bought a bunch of GPUs and have been mining Ethereum only (as it is by far the most profitable mining setup at the moment). I will have paid back all my initial investment in about another 50 days and then everything is pure profit. Plus I still have equipment that I could probably sell now for $3k.

If Eth moves to POS in the middle of next year (which I don’t believe will be achieved) then I will probably walk away with a profit of $6k, can still mine some other coin with the GPUs or sell them.

Plus that’s a year away - there might be a successor to Eth if some other coin sees an opportunity to fill the POW GPU mining void left by Eth’s disappearance.

Wow… Thanks for Reply… So as per your suggetion … I Would like to go with GPU Miner…

Now Just HELP me with Some of the most powerful SETUP of GPU RIG… I mean which GPU Do i use. I Think as per my Search i come to know that Raddeon 5700 Is Good to starts.

IF I Use Radeon 5700 with Total 12 GPU is it Perfect or Do i use some other GPU… Please let me know…

@Sandeep_Patel Right now the RX5700 is the best GPU for mining Eth (which is the most profitable coin to mine) - @bick0012 will agree with this I’m sure :grinning:

If you want to buy 12 of them and run a single rig, you will need to think carefully about the rest of your equipment, particularly which Motherboard you want to use and what power supplies (you will need more than one - probably 2 x 1200W PSU). If you decide on a ASUS B250 Mining Expert mobo you will be able to fit all 12 cards and your PSUs will be easily attached without any other cable/connectors needed. You could also look at an ASRock H110 BTC+ Pro which will also accommodate all 12 GPUs but you will need additional connectors to get 2 PSUs hooked up to it. Research that and decide which way you want to go because there are others besides the two I’ve mentioned.

Be careful to note the compatible CPU and RAM for whichever mobo you decide on - both boards I mentioned will not work with latest generation CPUs so you will be looking for older generation 6/7/8 I think which will be cheaper anyway. Just go for a Celeron or Pentium CPU and 4-8Gb of RAM as these are not overly taxed when GPU mining. Don’t get sidetracked into buying a powerful CPU to try to CPU mine - there is no meaningful profit in it and it just increases the risk that your GPU mining will have problems.

Other hardware you will need includes PCI-E Risers (some advice on those is available on this site), a small SSD (60-120Gb is plenty) and a frame to put it all in. You will of course need access to a keyboard/mouse and monitor so that you can set up all your software.

Think (and research) how you want to mine as there are lots of different options. Firstly you can run Windows or Linux. On each of those you can mine directly through a pool to your own online Wallet using Phoenix Miner or Claymores Dual Miner. For the 5700, most people find that Phoenix gives better hash rates.

You could also consider one of the all-in-one sites such as Nicehash where your rig’s hashing power mines Eth (or something else if it’s more profitable) and you get paid in BTC every 4 hours. I use Nicehash and based on my 6 x RX5700 rig’s earnings, I would expect that a 12 x RX5700 rig right now would be earning you about $30 per day (for a few days last week it was $40 per day). If that keeps up you would pay for your $6000 outlay in about 200 days (if your electricity is free of course :stuck_out_tongue_closed_eyes:).

That’s a few things for you to consider and research for now - there is still a lot more to learn and lots of different options that I haven’t mentioned. I’m sure you will come back with questions as you read and gather other opinions. Searching a few of the threads on here where people have asked about setting up new rigs would be a good place to start.