Is building a mining rig worth it?

Asked By: Eddie Botsford
Date created: Wed, May 19, 2021 6:41 AM
Best answers
Mining Bitcoin With a GPU Mining Rig Is Obsolete. The old style mining rigs that utilize a GPU for mining are simply not going to cut it today. This is true even if you were to have the best GPUs that money can buy. They simply do not have the power that the ASIC offerings have, and that makes ASIC machines the only really way that you can mine for Bitcoin today.
Answered By: Buster Wilkinson
Date created: Wed, May 19, 2021 8:37 PM
Used the guide to building a one GPU unit nice hash provides and the rig priced out at $1600 on new egg. My guess is this, if electric costs are $20 a month and profit on mining per day is $10( I think that is on the low end) then my monthly profit is $280.
Answered By: Esther Green
Date created: Thu, May 20, 2021 1:41 AM
INVESTING Building a mining rig in 2021 worth it? So here's the deal, I'm planning to build my own mining rig but the issue regarding Eth 2.0 is scary coz anytime soon mining might no be profitable anymore. What's your take in this? I'm mostly not sure why everyone thinks eth is the last POW crypto.
Answered By: Elroy Gulgowski
Date created: Thu, May 20, 2021 7:09 AM
As long as you have some free time, building a mining rig yourself is economically worth it. ROI is generally much faster and will in turn lead to you earning those sweet profits quicker.
Answered By: Lonny Paucek
Date created: Thu, May 20, 2021 5:11 PM
I know, I missed the part where we shouldn't build mining rigs so that gamers can get their GPU's back. RIP. Hopefully this video helps you to understand the...
Answered By: Laron Wintheiser
Date created: Fri, May 21, 2021 6:17 AM
I’ve never built a mining rig or computer before. To get this one up and running, it cost me $978 — j ust … To keep reading this story, get the free app or log in.
Answered By: Shaina Hammes
Date created: Fri, May 21, 2021 8:52 AM
Mining is the backbone of all proof-of-work blockchains and can be described with three key concepts: Bitcoin Block Reward. Miners are rewarded with 6.25 bitcoins. This number will reduce to 3.125 bitcoins after the halving in 2024. The reward (plus transaction fees) are paid to the miner who solved the puzzle first.
Answered By: Samson Collins
Date created: Sat, May 22, 2021 6:21 AM
A GPU rig (sometimes just a rig) is a mining device that combines several video cards. ASIC (Application-Specific Integrated Circuit) - a device for mining on a specific algorithm. ASICs can be used exclusively for mining cryptocurrencies. Worker - this term can refer to both GPU rigs and ASICs, this is the general name for mining devices.
Answered By: Elaina Sanford
Date created: Sat, May 22, 2021 11:20 PM
If you have a basic understanding of how to build a PC, then you will have no problems building a mining rig. Building a mining rig is quite similar to building a PC gaming or office rig. The only difference is the amount of GPUs. You need to raise them above the motherboard with PCI-e USB risers.
Answered By: Wanda Rice
Date created: Sun, May 23, 2021 4:10 AM
FAQ
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Bitcoin mining is the process by which new bitcoins are entered into circulation, but it is also a critical component of the maintenance and development of the blockchain ledger. It is performed...
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Bitcoin mining can give you at least $1 up to $42 or more a day. So, this is still profitable if you invest in a powerful miner. You have to get the best Bitcoin mining hardware and pair it with the best Bitcoin mining software to ensure that your mining activity will be profitable.
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Bitcoin mining can give you at least $1 up to $42 or more a day. So, this is still profitable if you invest in a powerful miner. You have to get the best Bitcoin mining hardware and pair it with the best Bitcoin mining software to ensure that your
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Bitcoin mining is the process of creating new bitcoin by solving a computational puzzle. Bitcoin mining is necessary to maintain the ledger of transactions upon which bitcoin is based. Miners have...
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After setting up the Bitcoin mining rig and installing a Bitcoin mining software, find a good hash and it can immediately earn $42, which is already a lot of money. If this amount is multiplied by 30, the monthly earnings from Bitcoin mining would be $1,260. If this continues, the annual profit from Bitcoin mining would be $15,120.
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The short answer is yes. The long answer… it’s complicated. Bitcoin mining began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes, mining from their bedrooms. Successfully mining just one Bitcoin block, and holding onto it since 2010 would mean you have $450,000 worth of bitcoin in your wallet in 2020.
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Mining affects fresh water through heavy use of water in processing ore, and through water pollution from discharged mine effluent and seepage from tailings and waste rock impoundments. Increasingly, human activities such as mining threaten the water sources on which we all depend.
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