11 September, 2022 seen 1,527Deribit is my latest discovery from the crazy crypto world. It all started with simple buy-and-hold operations back in…
Each time I add some new graphics card to my existing gpu mining rig or some other major happenings happens I make a quick update into the blog.
There are two major updates since my latest post from cryptocurrency mining experiments - I have installed another gpu card (in total there are 3, with a hash power of about 40 MH/s) and second, in the past day's price for Ethereum are reaching new ATH (All Time High) been set at $1,430 as of writing this (January 13, 2018).
Those of you following my blog lately already know - in December I decided to build 12 GPU mining rig and ordered goodies from Amazon. In total spending about $1,365. The total investment right now covers just the core minimum - motherboard, power supply, PCI risers, RAM, processor and just 3 graphics cards.
Make sure to check out previous updates:
- I'm Making $0.98 Per Day By Mining Ethereum and Siacoin, and I want MORE!
- I'm Making $2.44 Per Day By Dual Mining Ethereum and Siacoin, and I'm NOT HAPPY YET!
- Simple GPU Overclocking Boosts Ethereum Mining Profitability by 20.65% - Now Making $2.66 Daily
The fun fact is - currently I'm mining with 3 different graphics cards - AMD RX 560, GTX 1060 and GTX 1050. As mentioned above - giving hash power of about 40 MH/s (which is about one-third of the planned power for 2018)
I haven't made yet separate reviews for each card, but promise to do that very soon, make sure to check servers section on the blog, not to miss an important update. Also, I have review of AMD RX 560 here: Mining with SAPPHIRE PULSE Radeon™ RX 560 4GD5 Review
Also if you are exploring your options into crypto mining, check out these articles:
- Building a 12 GPU Ethereum Mining Rig From Scratch - Part 1: Ordering Details
- Top 14 Best Selling GPU Cards 2018
Now, it has been a couple of days since there are 3 graphics cards spinning, and it's time to see how well do they perform
|Hashing Power||Mined Coins||Exchange Rates||Earnings|
|GPU||ETH||SC||Invested||ETH||SC||ETH||SC||ETH||SC||Total||How many days|
I find it od, that after adding the third gpu the total mined ETH coins have actually decreased if compared to about 2 weeks ago when with less hashing power (~28MH/s) I actually mined more coins than now. It's either because of difficulty increase for mining ether or there are some problems with reporting. See: Dwarpool.com Review 2018 - Mining Ethereum at 28MH/s
Cryptocompare Ethereum mining calculator
There is a slight error from reported mining profitability from Cryptocompare Ethereum Calculator and actual stats from Dwarfpool. I still have to figure it out why, theoretically I should mine 0.004625 coins per day, but I'm getting just 0.00346924. Seems I should experiment with other mining pools also, to see if there is some glitch or what. Honestly speaking I have no clue.
Still, 5 bucks per day is nice, it's more than I was making from dividend payments or peer to peer lending in 2017, see: Dividend Income
As I'm using Claymore Dual miner, there is one more coin I'm mining - Siacoin and surprisingly, but this coin have gone up in value a lot lately, helping to boost total profit from mining operations. See: Is It Profitable Mining Siacoin (SC) in 2018?
Also, I should add, that the total ROI has decreased from 430 days to 268 days - a very nice 162 day gain. I still feel a bit worried about of such steep ETH price increase, it has doubled in just two weeks. I don't see there any good reason why Ethereum wouldn't reach $2,000 in 2018.
Alternatively I've been experimenting with cloud contracts from Hashflare, and currently if combined together - both Hashflare and my existing GPU mining rig makes me about $6.50 - $7.00 daily or about $200/mo.
HashFlare.io (Affiliate link here - if you will click, register and decide to invest, I might earn 10% commission from that) - Estonia based cloud mining company
Please note - I'm not a financial advisor, services mentioned in this article use at your own risk and remember your capital is at risk, you could lose some or all of your money.