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Cryptocurrency mining farm v0.5

Hello,

I’m writing this to obtain loans or funding for my new crypto-coin mining operation. I have limited funds and I’ve already invested most of those into mining hardware, so I am looking for some outside loans before the Ethereum gold rush is over!

Investment calculations are at the end.

Rig 1: Server

Motherboard: MSI 970A-G46, AMD FX-6300, 16GB DDR3

Video cards: 

  1. Sapphire Radeon R9 390x Tri-x OC 4GB GDDR5. Overclocked to 1150 MHz core / 1325 MHz GDDR5. I’m getting 32.5 Mh/s on Ethereum out of this card, which is great!
  2. Sapphire Radeon HD 7850 1GB GDDR5. Overclocked to 1050 MHz core / 1250 MHz GDDR5. Getting 250 h/s on Monero
  3. Sapphire Radeon RX 480 OC 4GB GDDR5. Overclocked to 1400 MHz core / 1750 MHz GDDR5. It’s getting 22.1 Mh/s on ETH, which is a bit disappointing. However, it has the same hashrate at 900 / 1200 MHz, so at least it’s very power-efficient.
  4. Gigabyte Radeon R7 260x 1GB GDDR5. Overclocked to 1300 MHz core / 1500 MHz GDDR5. This is a nice overclock, although the card is small and gets 205 h/s on Monero.

PCIe slots: 2 PCIe 2.0 x1, 2 PCIe 2.0 x16. I used the jumper wire trick for the first x16 slot, so that the 7850 with the riser cable is detected properly.

Power supply: Corsair CX750 750W (720W max on the 12v rail). I’m currently using ~650W 12v.

 

 

 

I put the rig together in a hurry in order to avoid too much downtime. When I have more free time I’ll build a wooden chassis instead of using plastic fragments and random screws.

 

 

Rig 2: Gaming PC

This rig is my former gaming PC which I now turned into a mining rig. Since it has no cards with 4GB+ of RAM, the GPUs and CPUs are solely used for Monero mining.

Motherboard: Gigabyte AB350 Gaming 3, AMD Ryzen 1500x 4-core @ 3.9 GHz, 16GB G.Skill DDR4 2800 @ 2933 MHz

Video cards: 

  1. MSI Radeon R9 270 Twin Frozr IV 2GB. Overclocked to 1080 MHz core / 1475 MHz GDDR5. It’s hashing at around 460 h/s on Monero.
  2. ASUS Radeon R9 270 DirectCU II 2GB. Overclocked to the same settings as the MSI. Getting 440 h/s. It runs a little hotter than the MSI card, which I blame on the smaller fans.

PCIe slots: 2 PCIe 3.0 x1, 2 PCIe 3.0 x16, 1 PCIe 3.0 X4. No risers are required since I’m currently running 2 video cards. However, with risers, the board can accommodate up to five GPUs.

Power supply: Corsair TX650M (640W max on the 12v rail). I’m currently using ~350W.

 

 

Rig 1 & 2 mining screenshots

Rig 1:

 

Rig 2:

 

Power usage of both rigs:

 

I’m actually surprised at how low the power usage from the wall is. First of all, these two PSUs are only rated for 80 Plus Bronze, and second, they’re running on 120v instead of 240v.  Then I did some research and found out that the EtHash and Cryptonight algorithms don’t max out the TDP of the video card. They use quite a bit less than the rated TDP.

In the old Litecoin and Dogecoin days of early 2014 (the first mining gold rush), power consumption was much higher than this. So I’m happy. A smaller electric bill, less power supplies required, and no risk of fire!

I live in Central New Jersey, USA, where power prices are more or less ‘average’. My utility company, PSE&G, charges $0.118/kWh right now. On June 1 they will increase it to $0.12/kWh. The prices are higher that I would like, but they still leave a big profit margin (82% for Ethereum and 63% for Monero).

 

Profit as of 5/20/17:

$11.34 revenue – $2.88 electricity = $8.46 * (100 – 1.25% mining software devfee – 1% pool fee) = $8.25 profit / day = $247 / month

 

 

Future upgrades:

  1. New Sapphire R9 290 Vapor-X card: 29 Mh/s estimated for Ethereum — In transit, arriving on Monday 5/22
  2. New Gigabyte R9 290X Windforce OC card: 32.5 Mh/s estimated for Ethereum — In transit, arriving on Friday 5/26
  3. Corsair CX750m PSU + ATX24pin Y-splitter + EPS12v Y-splitter for powering up a future third and fourth mining rig — In transit, arriving on Wednesday 5/24
  4. HP DPS-1200FB server-grade 94% Titanium efficiency PSU (900W 12v on 120v) — In transit, arriving on Tuesday 5/23. This is the exciting one, since it only costs $30 yet is more economical than any consumer-grade PSU on eBay per watt.

From now onwards every new card I buy will be a Hawaii GPU (R9 290/390, R9 290x/390x). They give the most profit per dollar.

ETH / cost of card: $1/day for every $100 spent on video cards. Including the cost of PSUs and rigs, the profit ratio is $0.85 / day for every $100 spent on equipment. This means every dollar I (or you) invest in my mining operation pays for itself in 117.6 days (4 months), assuming the earnings from Ethereum (price / difficulty) remain constant.

After 4 months the equipment will have paid for itself. If and when the gold rush ends, I can resell all the equipment on eBay for maybe 20-25% lower than what I bought it for. This eliminates much of the investment risk if the gold rush ends early!

Even more upgrades coming if I can get some sort of credit, funding, or a Bitcoin loan!

Critical information for investors:

  • Every $100 you invest will yield $0.85 of profit per day, assuming mining remains as profitable as it is right now.
  • Even if I can’t pay the loan in time from just the mining earnings, I can sell (liquidate) equipment to make up the difference and pay it on time.
  • Worst case scenario: Assuming mining yields half the revenue that it does now, on average, the loan will take 10 months to pay, or I could liquidate 70-75% of the hardware that I bought with the loan (which is worth 6 months of mining).

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