I'm Making $2.44 Per Day By Dual Mining Ethereum and Siacoin, and I'm NOT HAPPY YET!

This is a quick follow up post after previous and initial I'm Making $0.98 Per Day By Mining Ethereum and Siacoin, and I want MORE!. It has been first 24 hours since my core mining rig have been set up and running.

Well, more precisely, yesterday I finally received details ordered from Amazon at the start of December - motherboard, processor, power block, graphics card and other, see: Building a 12 GPU Ethereum Mining Rig From Scratch - Part 1: Ordering Details

By now all mining operations are run from my living room (instead of office) on a separate mining rig. The total investment as of day: $1,147.00 (not counting in transportation and customs tax, which is about $200).

As of writing this, the total time of ROI is 468 days, which is the reason I'm not happy yet with the results. 468 days is more than one year. And that makes me worried as we don't know what will be the future for gpu mining in next 6 months, no to speak 12 months or 468 days. Right now this seems a bit of gambling to me.

  Hashing Power   Mined Coins Exchange Rates Earnings      
GPU ETH SC Invested ETH SC ETH SC ETH SC Total How many days
2 24.76 160.39 $1,147 0.00300494 4.12 $773.12 $0.03 $2.32 $0.12 $2.45 468.77

On the other hand, currently mining operations are performed by just two graphics cards:

  • Radeon RX 560 4GB card, producing about 10.67MH/s for Ethereum and 85.74MH/s for Siacoin dual - mining.
  • EVGA GeForce GTX 1060 6GB , producing just 15.67 MH/s for Ethereum and about86 MH/s for Siacoin

When I purchased EVGA GeForce GTX 1060 6GB I believed it will have a hashing power of about 22.5 MH/s - having just 15.67 MH/s or about 3/4 from the expected leads me to think either I haven't configured my mining rig right or maybe 15.67 MH/s is the most this card can get. 

See: Top 14 Best Selling GPU Cards 2018

I haven't performed any optimization yet, the numbers are straight out of the box, but I believe there is a room for about 10% improvement by overclocking BIOS.

For mining, I decided to use Simple Mining OS, run from a USB stick. SimpleMining comes with a cost - $2/mo per mining rig. Which is fair IMHO. In coming days I will make an article on how to mine ether on Simple Mining OS.

It should be noted that Simple Mining OS officially doesn't support mixing AMD and Nvidia cards on the same rig, but I managed to get both mixed version up and running on the same rig, which probably is the reason I'm getting lower hashrate for NVIDIA card right now. 

Now I believe I will read a lot of online tutorials, watch dozens of YouTube video and try to optimize existing rig for better performance, before ordering new graphics card from Amazon and hopefully extending rig by at leat one more card in January 2018.