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The *OFFICAIL* Jazzfanz Crypto Mining Thread


Avery

Well-Known Member
Equipment and electricity?

I haven't bought anything that wouldn't pay itself off in 6 months or less but as ETH has been booming I'm closer to 90 days or less ROI on anything I bought specifically for ETH mining. I haven't bought anything from a scalper and I haven't scalped anything.

I have spent a decent amount to get into Chia farming and have not gotten any return yet.

My electric bill is about $80 more a month and I'm currently projected to earn $2559/month gross, although that fluctuates quite a bit.

Keep in mind that my three biggest earners for ETH mining are the GPUs in gaming PCs that get used as gaming PCs (one of which I'm using to type this message). I have bought stuff sooner than I would have without mining, but I've had relatively high end gaming PCs for the majority of my life. If mining went away today I would keep all of my current generations equipment and be perfectly happy about it.

Good stuff - you keeping your rig in the basement or a dedicated space away from everyone? I have a neighbor who is trying to get in the crypto game and wants to take a 20 x 15 unfinished room in his basement, soundproof it and fill it with some stuff. My advice to him is that you either go all in or do nothing at all; otherwise, you're just wasting your time.

I think you're smart to sell vs. holding on - I know many would say hold the long and keep it like any investment, but I think you're definitely better off turning it liquid vs. the risk as you're still getting a sizable return and the marketplace is pretty ridiculous when the word of one eccentric guy can send it to the dumps. Even if you decided to walk away, you could sell your equipment for a nice bundle as well.
 


Archie Moses

Well-Known Member
My Ethereum mining income is currently enough to pay my mortgage with enough leftover to get a fancy lunch.

I'm going to be forming an LLC to deal with the tax issues associated with the additional income.

Not close to being able to quit my day job (which is actually a night job) but I'm going to throw in pretty hard on Chia and will also be getting into Helium.

Wish me luck!
I'm happy for you, my man. I wish I had the drive for this. No, that's not a pun either.
 

Gameface

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I ordered a helium miner, specifically the RAK V2. Looking at a coverage map in in a really good spot, at least 5 other hotspots can see me but the closest is 3km away with the rest at 4-5km (the map had a distance tool and displayed the results in km). I would currently be the only hotspot next to Jordan Landing Mall which is just a couple blocks away from me. That's likely to change and I won't get my unit until the fall, so it'll probably change before I even get going.
 

Ron Mexico

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Contributor
@Gameface What's your break down these days by each graphics card. I'm ready to upgrade my computer anyways. I figure mining might influence which graphics card I get. I'm thinking I should just run double 3080s since I think it's cheaper than a 3090. But I guess if the 3090 can make a lot of money and then I'll buy a second later when they get cheaper.
 

Gameface

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@Gameface What's your break down these days by each graphics card. I'm ready to upgrade my computer anyways. I figure mining might influence which graphics card I get. I'm thinking I should just run double 3080s since I think it's cheaper than a 3090. But I guess if the 3090 can make a lot of money and then I'll buy a second later when they get cheaper.
Both my 3080s can do 102MH @ 214W.

My 3090 can do 122MH @ 324W

I'm about to add a 3070 which is supposed to be able to do 61MH @ 160W

The 3060 Ti can do the same hash rate as the 3070 but @ 120W. This is the card most miners would want if they had their choice.

The primary factor in hash rate is VRAM bus size and speed. Actual GPU chip performance is not as important.

For casual mining power consumption isn't much of a big deal. It's also not a big deal as a cost issue because it accounts for such a small percentage compared to earnings. What is an issue is heat and power delivery. The wattage used directly correlates to the amount of heat the device is producing, so it's harder to cool higher wattage cards and the space they are in will get hotter as well. In a larger multi-GPU "farm" there is an issue with how to power the GPUs. Starting with the typical PC power supply, 6 cards can be too much, especially if each one is over 200W. Multiple power supplies can be used and/or server power supplies can be used. But in a farm with several rigs the available power from the wall will start to be a factor. Not to mention the very real possibility of starting a fire if you're exceeding the specifications of wiring (especially if daisy chaining and splitting power plugs).

I would take 2 3080s over a single 3090 for sure. But keep in mind that there is no SLI on 3080s, so 2 will not give you improvements in games. SLI is not a factor for mining as the software will use multiple cards just fine without an SLI connection.
 
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Gameface

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Oh, one more thing to consider. For mining pretty much any 3080 or 3090 will need aftermarket thermal pads or else the memory will bounce off the thermal limit 0f 110C and case massive performance issues. I had to replace the thermal pads in the air cooled 3080 because after the first week it wouldn't do more than 54MH and it was frying the memory.

On the 3090 it's an EVGA FTW3 Ultra and EVGA offers a Hybrid AIO cooler for it. I bought that and it helped but I still had to use aftermarket thermal pads and I even placed little stick-on heatsinks on the backplate and I'm still running in the high 80C range on the memory.

3070 and below will not need aftermarket thermal pads. The 3080 and 3090 use GDDR6X (instead of the GDDR6 that the other ones use) and that stuff is awesome and super fast but it runs HOT AF, especially when mining.
 

Ron Mexico

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Oh, I didn't realize there is no sli for 3080. That's probably going to change my mind. Thanks for the thermal pads recommendation, I would not have thought of that.
 

Gameface

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Oh yeah, and the RTX 3080 Ti is coming out on June 2nd. It is believed that it will have the mining limiter, which is sad for me. But even with the limiter it will most likely do 60MH, would be 120MH without the limiter and the MH/W would have been fantastic.

I'm actually going to try to replace my card and my kid's card with a 3080Ti because I'm EVGA elite and will have access to purchase or get in the que 24hrs before the general public. 60MH at MSRP for a 3080Ti is fine with me, but alos it'll hurt less when I actually want to play a game on my gaming PC, and my kid turns off the mining software for hours and hours at a time for gaming.
 

Gameface

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I'm happy for you, my man. I wish I had the drive for this. No, that's not a pun either.
This was really a right place right time thing for me. I had the RTX 3080, 2070 and 1070 before I even considered mining. I've been into PC gaming since I was like 12. All I had to do was install some software and watch the numbers go up and I was kind of hooked. I ran into some non-random luck by getting a 3090 5 months after I signed up for a wait list (well before I was mining) and then hit on the Newegg Shuffle, which I alter my sleep schedule to be able to sign up for, and got my second 3080.

It has been easy to put effort into this after getting real returns on it. If I was on the outside looking in I probably wouldn't even know where to start.
 

Gameface

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So Elon Musk decided top throw some cold water all over the crypto market which was in full boom mode yesterday. Major reduction in mining profitability from 24hrs ago. It went from holy ****ing amazeballs to just really good today.
 

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