Just got started mining at home. Currently I have 1x 2080ti, 1x 3080ti, 2x 3060ti, 2x 3060. I dont expect to break even before Eth2 but close is good enough figuring I'll still own the cards.
I also just started mining, I have 4-3070s and 1-3080 on a 12 gpu rig. Still plenty of room to add on that rig. I also have a 6 gpu rig with 6-1060s running. lastly I have another 6 gpu rig that has 2-6600s and 1-6700 on it. I am mining all eth. This has become a really fun hobby, I really enjoy your videos, I also watch red fox and brandon coin. Thanks to you all I pretty much can fix any issues that pop up. So again Thanks for your videos.
currently mine with- 6x5700=331 mhs(Icould be better but i have good temps like this), 10 x rx5600 xt=435 mhs, and as of tomorrow il add 6 x rx 6600 xt that will give 192 mhs,this will give me roughly 950 mhs,im not into the 1 ghs fam :))))))))))))))
I think you forgot to mention the most important piece to this whole hobby: the cost of the mining rigs. We need this info so we can see if it makes sense to even invest.
They are about $1000 or more per card. I have an older card. A GTX 1080 Ti. And it was like, $750 I think when I bought it 3 or 4 years ago. Since then, the price of cards as a whole has went up. So now my older card is worth $1000. Then you have the newer, faster, stronger, more energy efficient cards that people are using these days. The newest of the new. And they are running over $1000 easy for each of them. So essentially, this guy has $44,000 minimum in his setup. Then you have the costs of his fans and exhaust system. He is only making $26k a year profit. So essentially, he isn't even "making a profit" until 2 years or more. Because his operation itself doesn't even pay itself off for 2 years if it is only bringing in $26,000 a year. He forgot to also mention exchange / transaction fees when converting digital currency to real currency. Variables with that as well. My opinion? Not worth it to mine.
@@skyflow_kreative_imaging he will have made his return on investment in about 10-12 months. Not 2 years like you state. Anything after that is just profit
Incredibly detailed video! Still in the infancy stages of my own setup, but definitely plan on utilizing your spreadsheets in the future to track my progress. Great work!
You can cut electric bills almost exactly 50% by running everything from 220V line instead of regular 120volt lines. Keep in mind that electric meter measures AMPERAGE being used, not VOLTAGE. For example, a pool pump motor that runs on 220volts @ 4amps/hour, would have to run at 8amps/hour at 120 volts. That's DOUBLE the amperage/hour you have to pay v/s using 220volt line.
be very careful with security. think like a burglar that knows you have such portable wealth in your home. make sure your windows are barred with steel. even cameras wont stop face coverings, and burglars almost always hit houses in teams of 2 to 4. they at least have knives, sometimes firearms. do not forget security, brother.
Even though you're on inexpensive electric, I'd look at being able to capture all that heat and put it back into the home during cooler months rather than just dumping it overboard (which makes perfect sense during warmer months). Possibly connect to a Pi or similar and control a servo that throttles the opening of the heat dump into the home so you're maximizing efficiency when possible and not manually screwing with twisting knobs to adjust the capture rate.
Agree on the equip but not labor, if we did that for all our hobbies no one would do anything but sit in their house watching TV everything else would be too expensive.
Super clean setup and great job on the power management. What’s the possibility of you sharing your startup costs? It’s kind of the most important number when calculating profit.
What was the initial cost of all the equipment? $26k a year... I had expectations that 44 gpus would pull much much more. Additionally is it better to have all the same gpus or different gpus won't make too much of a difference?
Can I just point out that a very tall chimney can be a very effective way to draw warm air out, for a passive component that will reduce your electricity bill on an ongoing basis. A chimney with a device at the top that draws even more air out utilising the wind would make it even more effective. To maximise profits, or make profits when the margin if profit is negligible, you need to cut ongoing costs to the bone, and as many passive ways of generating electricity and cooling will help that enormously in the long run.
I can see why you call yourself a hobbyist. There's a lot of questionable decisions such as why you aren't mining Ethereum exclusively during a bull run or buying new cards and selling your old. Beautiful organization/setup none the less.
Altcoins can 10x in a day or two during a bull run. You can hold your mined altcoins until a time when they are priced high. It's up to the individual to choose their risk / reward investment strategy. Doge is nearly as profitable right now as ETH, and could 5x to $1.00 at any moment.
If we think about the etherium will end soon and we need to dig other coins like Flux for example and prices for the rtx 3080 is around 1600$ and as I see your monthly revenue 6.25*30 = 187.5 and when we calculate (1600 * 3 cards)/187.5 which makes 25.6 month for return of investment and I didn't count the other boards CPU etc yet. How much time do you think a rig will work? does it make sense to invest now?
After the 2.0. merge those cheap card hopefully still do well bec. compition .Now days most my cards little bit high end 18 GPU’s running around 21k profit annual .great vid. Thx.
Also have to minus something between 12 and 36ish percent off your profits depending on your total yearly income in taxes so your probably closer to 20k profit a year until prices go up, I would only sell enough to cover the taxes and keep the rest for a decade at the very least
Run those fans faster on the tent (6" should be fine unless the basement is hot already) - you want the sides to bow in, making negative pressure and open all air inlets on the tent.
So many questions for you. Like how much did all of the equipment cost? How many people are you working with? Is the equipment paid off? How do you get the money from those machines to you pockets? And what is your cut. Do you split the money monthly, quarterly or annually?
You didn't mention if you heat the house with the rigs? I'm in upstate NY didn't have to pay or add oil for about 3 years now, use to be like 5k a year, even when the market whent down I had the rigs only going in the winter and somehow still paid less then oil, you need to get a heat exchanger on the pipe that goes to the furnace will save you a lot of money
You did forget to include how many years of reliable mining you would need to pay all the hardware and else of (including consistent Coin prices without crashes)!
That depends on what you mine, how much it's worth, how much you're spending on electricity etc. It's hard to say you'll make x dollars when the price of a coin could drop or skyrocket tomorrow.
@@DudeMcGuybro i think he's getting at how much does all the hardware cost. You already made it clear your electricity costs and your profit based on the current price of these cryptos. Just looking for the cost of all the hardware.
@@zachklassen5321 Well after 4 years of mining i have 380 000 USD FYI> 26 000 electric bill I could sell my rigs for 10K right now. so 39 K investment four years of mining 380 000 in coins.
Mining from my home office (work from home) with 4 total GPUs right now with 1 more to install when I get another PSU and hopefully 2 more on the way along with the growtent setup!
Subscriber !!! Love your videos - We are just starting out !!! We have 88 Solar panel Array Our next investmemt is Batteries for solar generating during the night. The only thinng we didnt hear about was - If you dont mind- I know you kept all the boxes - What did this end up costing and how many years dd it take to get this far !!!!! EXCTREMELY IMPRESSED W YOU !!!!!!
$26,000 per year. Can you give us an idea what it cost to build that and how many years at your current profitability (assuming it stays the same) would it take to recoup costs? Also, once ETH isn't minable with GPUs anymore what is your plan? Thank you.
Thanks for spreading your passion. Question: At 3:05 you show your GPU's hanging from the shelving with the coloured brackets, i.e. red, blue, & black. Where do you obtain these from?
Friend, good night my name and Junior. I would like to know the name of the plastic part that holds the GPU on the metal shelf. Your GPU hangs, perfect.
This is AWESOME! It's looking so cool down there. What's your plan to mud the basement? All of that dust will surely make you take out the whole farm. I have seen some good results with wet sanding, maybe that would help you keep rigs online? Keep it up!
You can’t mine shiba, you were mining something else and the pool was transferring it to shiba at a fee cost. Mining on unminable literally mines either btc or Eth then pays you out in what you want but it’s fee driven
what's your ROI? if you measure a your time spend on working on this project plus capital for start up/setup etc.? I am wondering that is profitable short/long term?
nah bro it's just a hobby. lots of older cards so they're not that efficient. if he was hardcore he'd have a mountain of 30 series nvidia cards and 6000 series amd cards for ultimate hashrate and efficiency.
Love that you think about renewable energy to feed your system! At least when we contribute to the energy demand, we should make sure to support sustainable resourcs. Keep up!
just a fyi, you have been lied to about most renewable energy sources. All energy production is nonrenewable and solar farms and wind farms are from the best sources. The mining to collect precious metals produces a lot of greenhouse gases. The manufacturing too. They only last for about 7 years before having to be decommissioned.
Listening to the break down of the profits, why does he have different cryptos to mine? Why dont he stick to the one that gives more money? Make me understand please , thank you
Where does one buy a new card for less than 2x retail? You're talking double the time for the same profit for marginally different performance. I don't mine but my guess is about 30% less profitable at the current time with the newest hardware compared to his setup. This isn't a warehouse setup so I'm guessing he chose the lower initial investment over the more long term return approach. As someone else mentioned the spreadsheet lacks the investment, it would be reasonable to assume this would take years at this rate to become truly profitable.
Solar panels work wonders. It just adds a whole lot more to your costs though. No matter what though, definitely got to move out of california. me and you both.
You can run a feed from the fuses to only supply your miners and use the appropriate sized cable and a uprated breaker any electrician can sort it for you
Nice very nice, thank u for showing. Ive mining eth atm with a 6 rtx 3080 rig. Getting me 575mhs. Will be hunting for gpus when the market isnt so hot and get another to mine ergo
Thank you for the inspiration to modify my tracking spreadsheet! Yours had some good ideas and I have "enhanced" it quite a bit. If you want a copy, just let me know how to get it to you.
I think the worst part of seeing this is seeing the solid cash you're bringing in but you're using google sheets instead of excel. Other than that, congrats! Keep it up!
Ferrum Network also runs an incubator program that supports and nurtures promising blockchain startups. The program provides technical assistance, marketing support, and access to a vast network of partners and investors, fostering innovation within the industry.
great video bro... i have to say that i think u should really get that insulation in the ceiling boarded or cover with plastic at least so that the fibres arent getting into the air 👍
We pay like 50 cents per kWh up in New Hampshire after all the fees and shit.. unfortunately just wouldn't be as worthwhile. I'm thinking about installing some solar panels and making an eco-rig
.05/kw is heaven. Thanks for sharing this insightful analysis with us. Do you have a estimate of the total hardware cost all in? Do you have any thoughts on solar powering options?
I have 36 Saphire RX 580 8 gig cards O/C running about 1137 MHS Making about 50 USD not including power. Power is about 15 CDN a day so about 50 CDN profit a day. Mining since 2017 my set up cost me 25 000 CDN in 2017. Paid about 25 000 in power. MY coins are worth about 387 000 USD right now. Waiting to stake. SHould get about 5% staking rewards just waiting till the merge before I stake. Should average about 25 000 CDN a year staking. SO my total investment should be made back every two years at current price, plus I get my 380 000 USD for mining for four years.
Awesome. Man. Do you do build outs. What type of solar do you have. You can you updated video on price increases on coins since this a couple months old. Thanks
how do you work out the price paid for electric when you have solar? I mean, if you fail to make money from exporting electric back to the grid, that should be considered a cost .
Given your mining profits per year, when do you expect breakeven on the total investment? If you haven’t paid off what you spent building the miners and associated infrastructure, what you mine /day minus electricity isn’t exactly representative of profit
Awesome vid and breakdown. I'm in Texas and trying to figure out what I need to do in my garage for ventilation. I'm thinking I'm going to need some sort of AC. I've seen someone else use a grow tent and then run a portable AC unit.
You can do it! I would consider AIRFLOW over COLD AIR/AC. AirFLOW across your card bringing in New Air and Exhaust the Air is critical. If i was you and in Texas. I would pull ambient air from your home into a grow tent using an 8" AC Infinity Inline Fan and than exhaust outside with another 8" inline fan. Your home electric bill will go up maybe 20 bucks or so but worth it!
@@TheHobbyistMiner - I'll start exploring that as an option. My other challenge is i'm in an HOA and have some restrictions on where I can put things, sound levels, etc.
Hey The Hobbyist Miner, I am just about to install 400 amps in my garage for mining, what are those 240v 30 amp digital displays called, how much are they and where did you get them ( i need 10 or so)
this is the rason we started seeing guys sellilg hundreds of gpus in bulk on ebay like the guy i've seen the other day that was selling 72no 3060ti for nearly 82k
Grt job but your electricity is super cheap. I envy you i have 5 rigs with 1070s only and it costs me around $400 per month. Not making much of money mining eth to save hoping it would give me a huge return when there is a spike
Are you Mining From Home? How many GPUs are you running currently as of today?
I also have 2 laptops running UnMineable mining ETC!
12
Just got started mining at home. Currently I have 1x 2080ti, 1x 3080ti, 2x 3060ti, 2x 3060. I dont expect to break even before Eth2 but close is good enough figuring I'll still own the cards.
I also just started mining, I have 4-3070s and 1-3080 on a 12 gpu rig. Still plenty of room to add on that rig. I also have a 6 gpu rig with 6-1060s running. lastly I have another 6 gpu rig that has 2-6600s and 1-6700 on it. I am mining all eth. This has become a really fun hobby, I really enjoy your videos, I also watch red fox and brandon coin. Thanks to you all I pretty much can fix any issues that pop up. So again Thanks for your videos.
currently mine with- 6x5700=331 mhs(Icould be better but i have good temps like this), 10 x rx5600 xt=435 mhs, and as of tomorrow il add 6 x rx 6600 xt that will give 192 mhs,this will give me roughly 950 mhs,im not into the 1 ghs fam :))))))))))))))
I think you forgot to mention the most important piece to this whole hobby: the cost of the mining rigs.
We need this info so we can see if it makes sense to even invest.
They are about $1000 or more per card. I have an older card. A GTX 1080 Ti. And it was like, $750 I think when I bought it 3 or 4 years ago. Since then, the price of cards as a whole has went up. So now my older card is worth $1000. Then you have the newer, faster, stronger, more energy efficient cards that people are using these days. The newest of the new. And they are running over $1000 easy for each of them.
So essentially, this guy has $44,000 minimum in his setup. Then you have the costs of his fans and exhaust system. He is only making $26k a year profit. So essentially, he isn't even "making a profit" until 2 years or more. Because his operation itself doesn't even pay itself off for 2 years if it is only bringing in $26,000 a year. He forgot to also mention exchange / transaction fees when converting digital currency to real currency. Variables with that as well.
My opinion? Not worth it to mine.
@@skyflow_kreative_imaging I just picked up 4x 1080ti off eBay from all different sellers and did not pay over $720 once
@@skyflow_kreative_imaging he will have made his return on investment in about 10-12 months. Not 2 years like you state. Anything after that is just profit
Prices fluctuate so much that if you listen to his prices now and what he paid then it will most likely destroy your profits.
Can you make a tutorial on how to build a decent profitable rig. What to buy. How to set up. And everything you will need.
No.
Lots of videos available sadly the price on graphics cards are super expensive as their back ordered and people are re selling them
@@Mr30bopper I’m aware , but this is the guy I choose to follow. Wanted him to make the video since he’s capable of the setup he has.
@Philips Coriela Ima look into that. Appreciate that
Yes plz
Great breakdown! So many other channels say they make this or that, but your showing the numbers. Keep it up!
Incredibly detailed video! Still in the infancy stages of my own setup, but definitely plan on utilizing your spreadsheets in the future to track my progress. Great work!
Glad it was helpful!
You can cut electric bills almost exactly 50% by running everything from 220V line instead of regular 120volt lines. Keep in mind that electric meter measures AMPERAGE being used, not VOLTAGE. For example, a pool pump motor that runs on 220volts @ 4amps/hour, would have to run at 8amps/hour at 120 volts. That's DOUBLE the amperage/hour you have to pay v/s using 220volt line.
Electric meters measure watts. 120v*8amps=960w, 240v*4amp=960w. It costs the exact same.
be very careful with security. think like a burglar that knows you have such portable wealth in your home. make sure your windows are barred with steel. even cameras wont stop face coverings, and burglars almost always hit houses in teams of 2 to 4. they at least have knives, sometimes firearms. do not forget security, brother.
Thanks!
@@TheHobbyistMiner yea man you should be secure. i care about you. what is your address ill come check it all out make sure its secure personally.
@@mayainverse9429 lmao
@@mayainverse9429 yea i will join you, its easier to help him with 2 people
@@tcap112 with 3 is easier much lets go
in the spreadsheet you could add the cost of the whole hardware
Its probably 18K or more for all of it
Even though you're on inexpensive electric, I'd look at being able to capture all that heat and put it back into the home during cooler months rather than just dumping it overboard (which makes perfect sense during warmer months). Possibly connect to a Pi or similar and control a servo that throttles the opening of the heat dump into the home so you're maximizing efficiency when possible and not manually screwing with twisting knobs to adjust the capture rate.
It's something I am investigating with my return duct.
I have 19 GPU's all mining Etherium. My hashrate is 904 MH/s. Making about $56 after power per day.
What gpu u have sir?
I'd like to get up 20 gpu's.. How do you know that your circuit breaker can handle it? Thanks,
guy is simply showing how he destroys environment but others just thumbs up.
Worlds amount of cryptocurrency corresponds to greed measured in CO2 ;)
U a cool dude brandon. Shout out from Rapper Mike. Yup!
You seem to have left out some of the expenses. How can you ignore equipment cost or labor when you figure profits?
Agree on the equip but not labor, if we did that for all our hobbies no one would do anything but sit in their house watching TV everything else would be too expensive.
Super clean setup and great job on the power management. What’s the possibility of you sharing your startup costs? It’s kind of the most important number when calculating profit.
Same question here...
Im into gaming and i know rigs, fans and gpus aint cheap. Id say that the guy has at least 10k invested
@@CristianRodriguez-ru7qu i mean a card is roughly 200-500, id say you're looking probably 2 or 3 times that estimate
Thanks for the great content and a BIG thanks for sharing your spreadsheets, etc. That is very much appreciated!
What was the initial cost of all the equipment? $26k a year... I had expectations that 44 gpus would pull much much more.
Additionally is it better to have all the same gpus or different gpus won't make too much of a difference?
it wont make a difference and he is using low end gpus quantity over quality so to speak
Can I just point out that a very tall chimney can be a very effective way to draw warm air out, for a passive component that will reduce your electricity bill on an ongoing basis. A chimney with a device at the top that draws even more air out utilising the wind would make it even more effective. To maximise profits, or make profits when the margin if profit is negligible, you need to cut ongoing costs to the bone, and as many passive ways of generating electricity and cooling will help that enormously in the long run.
I can see why you call yourself a hobbyist. There's a lot of questionable decisions such as why you aren't mining Ethereum exclusively during a bull run or buying new cards and selling your old. Beautiful organization/setup none the less.
new gpus are pretty expensive today... the roi would be lower. and ETH 2.0 is comming next year some ppl say
Its coming next year first or second quarter
Altcoins can 10x in a day or two during a bull run. You can hold your mined altcoins until a time when they are priced high. It's up to the individual to choose their risk / reward investment strategy. Doge is nearly as profitable right now as ETH, and could 5x to $1.00 at any moment.
What was your final cost for the entire system?
Seems more like a labor of love then actual money making machines
SAY what 25 000 investment in 2017 has netted me 380 000 USD you are crazy to say that.
wow good video man, i was never thinking 44 gpus can create almost 80$ profit per day, jeez, pretty good invest. congrats
If we think about the etherium will end soon and we need to dig other coins like Flux for example and prices for the rtx 3080 is around 1600$ and as I see your monthly revenue 6.25*30 = 187.5 and when we calculate (1600 * 3 cards)/187.5 which makes 25.6 month for return of investment and I didn't count the other boards CPU etc yet. How much time do you think a rig will work? does it make sense to invest now?
After the 2.0. merge those cheap card hopefully still do well bec. compition .Now days most my cards little bit high end 18 GPU’s running around 21k profit annual .great vid. Thx.
How much $ do you have invested in this setup? Curious on ROI. Looks impressive
Wow, so many fans, so many servers, switches and all kinds of stuff. It feels like a factory.
Also have to minus something between 12 and 36ish percent off your profits depending on your total yearly income in taxes so your probably closer to 20k profit a year until prices go up, I would only sell enough to cover the taxes and keep the rest for a decade at the very least
@@tylerdantes6120 because you are legally required to pay taxes
Elecrticity in my country cost 0.22€, you pay Only 0.05...
Run those fans faster on the tent (6" should be fine unless the basement is hot already) - you want the sides to bow in, making negative pressure and open all air inlets on the tent.
BEST THUMBNAIL OF 2021!
Looking good hobbyist miner. Let's hit 50 gpus
Very nice setup. The big question is the cost to get you to 26k per year. You must be 100k in.
Thank you for the video
Those 470 are doing godly work.
Yes sir! Paid for themselves already!
So many questions for you. Like how much did all of the equipment cost? How many people are you working with? Is the equipment paid off? How do you get the money from those machines to you pockets? And what is your cut. Do you split the money monthly, quarterly or annually?
You didn't mention if you heat the house with the rigs? I'm in upstate NY didn't have to pay or add oil for about 3 years now, use to be like 5k a year, even when the market whent down I had the rigs only going in the winter and somehow still paid less then oil, you need to get a heat exchanger on the pipe that goes to the furnace will save you a lot of money
Can you share what your capital expenses were (cost of equipment)?
I’ve worked in 3D rendering for years, I see all your cards and wonder if you’d make more money running a render farm? Or a cloud computing set up?
Btw I really enjoyed your video!
Dog person here. I've recently retired and looking for a side gig. Very good information. Thanks!
You did forget to include how many years of reliable mining you would need to pay all the hardware and else of (including consistent Coin prices without crashes)!
MY rigs have run 24 hours a day for four years. Only had one card go down on me so far.
@@thedude5599 hes talking about the how long it will take to pay off the hardware.
That depends on what you mine, how much it's worth, how much you're spending on electricity etc. It's hard to say you'll make x dollars when the price of a coin could drop or skyrocket tomorrow.
@@DudeMcGuybro i think he's getting at how much does all the hardware cost. You already made it clear your electricity costs and your profit based on the current price of these cryptos. Just looking for the cost of all the hardware.
@@zachklassen5321 Well after 4 years of mining i have 380 000 USD FYI> 26 000 electric bill I could sell my rigs for 10K right now. so 39 K investment four years of mining 380 000 in coins.
Mining from my home office (work from home) with 4 total GPUs right now with 1 more to install when I get another PSU and hopefully 2 more on the way along with the growtent setup!
☝️÷ ➀➄➇➆➁⓪⓪➅➇➁➇
🚀🚀..
Plugs in 2 kd boxes in regular outlets and profits about the same 🤯
Great job on the setup, and explanation
Whats that?
Subscriber !!! Love your videos - We are just starting out !!! We have 88 Solar panel Array Our next investmemt is Batteries for solar generating during the night. The only thinng we didnt hear about was - If you dont mind- I know you kept all the boxes - What did this end up costing and how many years dd it take to get this far !!!!! EXCTREMELY IMPRESSED W YOU !!!!!!
I haven't kept track honestly. But I started in February
$26,000 per year. Can you give us an idea what it cost to build that and how many years at your current profitability (assuming it stays the same) would it take to recoup costs? Also, once ETH isn't minable with GPUs anymore what is your plan? Thank you.
Stake your coins you mined making 5% return per year.
Awesome job, you have a great set up. Very organized.
☝️÷ ➀➄➇➆➁⓪⓪➅➇➁➇
🚀🚀..
Gave me the confidence in the second hand market on my way to get a 2070 super today 🤟🏽 Sweet spot man!!!
Good luck! Heck Yeah!
fax bruh!!
Thanks for spreading your passion. Question: At 3:05 you show your GPU's hanging from the shelving with the coloured brackets, i.e. red, blue, & black. Where do you obtain these from?
thnx for the vid my fellow miner, im running 20 x Vega 64 with similar results, great job on the rigging well done!!!
Friend, good night my name and Junior. I would like to know the name of the plastic part that holds the GPU on the metal shelf. Your GPU hangs, perfect.
This is AWESOME! It's looking so cool down there. What's your plan to mud the basement? All of that dust will surely make you take out the whole farm. I have seen some good results with wet sanding, maybe that would help you keep rigs online? Keep it up!
I will be taking down my farm for a week. Going to be painful But moving everything to my garage end of November. Will be "best".
That makes sense! Can’t wait to see it finished.
Thanks for your contribution to the gpu shortage and inflated prices…
You can’t mine shiba, you were mining something else and the pool was transferring it to shiba at a fee cost.
Mining on unminable literally mines either btc or Eth then pays you out in what you want but it’s fee driven
what's your ROI? if you measure a your time spend on working on this project plus capital for start up/setup etc.? I am wondering that is profitable short/long term?
mans setup for looking at prices of cryptos is better than my setup for gaming :I
6 GPUs later, ur not a Hobbyist anymore - u became a pro. But when ETH went POS, all of us became hobbyists.
Yep. I have 3 gpus on now.
Do you ever go through on occasion and start replacing and selling your old GPUs her better profitability both electric cost and Ash freight?
Seems like your annual revenue is far less than your cost of components. What am I missing?
I'm no expert but I'm sure that if you have 44 GPUs mining, you're not a hobbyist.
What is he then
nah bro it's just a hobby. lots of older cards so they're not that efficient. if he was hardcore he'd have a mountain of 30 series nvidia cards and 6000 series amd cards for ultimate hashrate and efficiency.
Wow did I read that correctly....~6 cents kw/h that's dirt cheap. Here in NY about 22 cents kw/h XD
More details here
th-cam.com/video/n7itcw7cvEk/w-d-xo.html
10cents/kwh (idr Rp1440/kwh) in indonesia😂😂
Canada (quebec state) it’s 0.01cent kw/h . And it’s Canadian currency
What was the startup investment for all of your equipment?
Love that you think about renewable energy to feed your system! At least when we contribute to the energy demand, we should make sure to support sustainable resourcs. Keep up!
yeah he could get solar panels with the cash he made and feed power to the house stil those rigs drain insane power
Who the fuck cares
Yeah bro, he could put a fucking nuclear reactor in his backyard.
just a fyi, you have been lied to about most renewable energy sources. All energy production is nonrenewable and solar farms and wind farms are from the best sources. The mining to collect precious metals produces a lot of greenhouse gases. The manufacturing too. They only last for about 7 years before having to be decommissioned.
Cool setup! Not bad for a hobby. I'm mining RVN on 8x 3060Ti (LHR) + 1x 2060... and I'm mining ETH on 4x RX 580 8gb. All the typical hash rates apply.
☝️÷ ➀➄➇➆➁⓪⓪➅➇➁➇
🚀🚀..
4:10 Why you gotta do me like that bro?
Listening to the break down of the profits, why does he have different cryptos to mine? Why dont he stick to the one that gives more money? Make me understand please , thank you
Love the set up. I was surprised to not see many modern cards. I am going with a density strat.
Where does one buy a new card for less than 2x retail? You're talking double the time for the same profit for marginally different performance. I don't mine but my guess is about 30% less profitable at the current time with the newest hardware compared to his setup. This isn't a warehouse setup so I'm guessing he chose the lower initial investment over the more long term return approach. As someone else mentioned the spreadsheet lacks the investment, it would be reasonable to assume this would take years at this rate to become truly profitable.
I have a 3090 and 2080ti mining ETH, making about $500/mo before electric costs. I pay about 12c /kW so I'm about $325-$375/mo with electric costs.
I love spec mining, but I will never understand spec mining in a bull run. Small setup with 3 GHs on ETH.
Sounds like a nice setup
"small". I dont think 3 GH/s is considered "small".
this setup would never fly in california where the electricity is an arm and leg. is it time to move out of the state?
Yep!
Solar panels work wonders. It just adds a whole lot more to your costs though. No matter what though, definitely got to move out of california. me and you both.
I'll never get into the mining business, but this is very interesting!
how does your house's circuit breaker handle all that power? I'm trying to figure out if I can scale up to 20 GPUs
call electirician
You can run a feed from the fuses to only supply your miners and use the appropriate sized cable and a uprated breaker any electrician can sort it for you
Nice very nice, thank u for showing. Ive mining eth atm with a 6 rtx 3080 rig. Getting me 575mhs. Will be hunting for gpus when the market isnt so hot and get another to mine ergo
☝️÷ ➀➄➇➆➁⓪⓪➅➇➁➇
🚀🚀..
I love the Idea but hate you for not being able to get a GPU for a new computer.
thats crazy, hope it turns into millions.
how much did you roughly spend on all your mining operations?
Mine from home or any where on your mobile connected to the mining machine
Ask me how
Helped me out
@@shannonchinni5988 You don't know how to mine on your own PC?
That is crazy.
Thank you for the inspiration to modify my tracking spreadsheet! Yours had some good ideas and I have "enhanced" it quite a bit. If you want a copy, just let me know how to get it to you.
Questions to Miners from UK.
What is your electricity supplier and how much do you pay for kw/h?
British Gas- 0.23p kw/h
i am with octopus energy and my tariff is daytime: 19p kw/h and nightime 12p kw/h. british gas is worst possible supplier, change it asap
I think the worst part of seeing this is seeing the solid cash you're bringing in but you're using google sheets instead of excel. Other than that, congrats! Keep it up!
TBH I think google's UI is a lot more friendly than Microsoft's. But that's just my opinion.
I really like your spreadsheet. I gotta get on that level!
I skipped around a little, and maybe missed it, but what was the total cost of all of the equipment, including cooling?
Ferrum Network also runs an incubator program that supports and nurtures promising blockchain startups. The program provides technical assistance, marketing support, and access to a vast network of partners and investors, fostering innovation within the industry.
great video bro... i have to say that i think u should really get that insulation in the ceiling boarded or cover with plastic at least so that the fibres arent getting into the air 👍
☝️÷ ➀➄➇➆➁⓪⓪➅➇➁➇
🚀🚀..
Blows my mind, where does a new person start with this mining stuff?
We pay like 50 cents per kWh up in New Hampshire after all the fees and shit.. unfortunately just wouldn't be as worthwhile. I'm thinking about installing some solar panels and making an eco-rig
14 GPUs here, right at 1GH/s
Nice Work!
Grow houses are going to be a thing of the past lol
.05/kw is heaven. Thanks for sharing this insightful analysis with us. Do you have a estimate of the total hardware cost all in? Do you have any thoughts on solar powering options?
I have 36 Saphire RX 580 8 gig cards O/C running about 1137 MHS Making about 50 USD not including power. Power is about 15 CDN a day so about 50 CDN profit a day. Mining since 2017 my set up cost me 25 000 CDN in 2017. Paid about 25 000 in power. MY coins are worth about 387 000 USD right now. Waiting to stake. SHould get about 5% staking rewards just waiting till the merge before I stake. Should average about 25 000 CDN a year staking. SO my total investment should be made back every two years at current price, plus I get my 380 000 USD for mining for four years.
Awesome. Man. Do you do build outs. What type of solar do you have. You can you updated video on price increases on coins since this a couple months old. Thanks
how much total cost are you invest ? how long it ROI?
No clue. I treat this as a Hobby not a for profit business.
how do you work out the price paid for electric when you have solar? I mean, if you fail to make money from exporting electric back to the grid, that should be considered a cost .
Just input electricity cost as the buyback rate from your electricity company.
Great video and great setup!
And how much money you have invested in all that 44 gpu rigs
☝️÷ ➀➄➇➆➁⓪⓪➅➇➁➇
🚀🚀..
Looking great. I can't wait to see you tear down and clean those 570 4gb cards!
2 rigs, 15 cards in Cali. 1100 mh. $80 ish a day. No LHR cards
Given your mining profits per year, when do you expect breakeven on the total investment? If you haven’t paid off what you spent building the miners and associated infrastructure, what you mine /day minus electricity isn’t exactly representative of profit
You should put valves on your outlets so you can heat your house in the winter
Awesome vid and breakdown. I'm in Texas and trying to figure out what I need to do in my garage for ventilation. I'm thinking I'm going to need some sort of AC. I've seen someone else use a grow tent and then run a portable AC unit.
You can do it! I would consider AIRFLOW over COLD AIR/AC.
AirFLOW across your card bringing in New Air and Exhaust the Air is critical. If i was you and in Texas. I would pull ambient air from your home into a grow tent using an 8" AC Infinity Inline Fan and than exhaust outside with another 8" inline fan.
Your home electric bill will go up maybe 20 bucks or so but worth it!
@@TheHobbyistMiner - I'll start exploring that as an option. My other challenge is i'm in an HOA and have some restrictions on where I can put things, sound levels, etc.
Hey The Hobbyist Miner, I am just about to install 400 amps in my garage for mining, what are those 240v 30 amp digital displays called, how much are they and where did you get them ( i need 10 or so)
Why keep the heat in? Cooler isn’t better for those cards?
this is the rason we started seeing guys sellilg hundreds of gpus in bulk on ebay like the guy i've seen the other day that was selling 72no 3060ti for nearly 82k
Grt job but your electricity is super cheap. I envy you i have 5 rigs with 1070s only and it costs me around $400 per month. Not making much of money mining eth to save hoping it would give me a huge return when there is a spike