Surely in some conversations in the crypto world with your friends, you have heard or read the word “rig” and wondered what are mining rigs? Well here at Minerland we define a rig as follows:
A mining rig is an arrangement of hardware elements, either CPU, GPU, FPGA, or ASIC, arranged to perform cryptocurrency mining.
Easy don’t you think? The truth is, yes, it’s a very simple concept, but translating it into reality is complex. Why? Because simply putting these elements together is not enough, it must be done in the best way so that the investment you make is an investment that you can return with profits in the long term. And to achieve this you must consider several elements that we are going to explain to you in this new chapter of Minerland.
Types of mining rigs
Rigs can be classified based on the type of mining hardware they use. In this case, the types of mining rigs that have existed so far are:
One of the easiest mining rigs to install and configure is CPU rigs, which are nothing more than multiple computers installed together to mine a specific cryptocurrency that can be mined using these devices.
To maximize performance, miners looked for multi-core processors or multi-CPU motherboards to maximize mining power to their advantage. Even computing clusters were built, small supercomputers that used the computing power of all smaller computers separately and optimally. However, the advent of GPU, FPGA, and ASIC mining quickly replaced them, although there are cryptocurrencies like Monero (XMR) that still benefit from CPU mining. But through the full GPU acceleration technology.
But the Full GPU Acceleration Tech rigs are among the most popular today as they can be used to mine cryptocurrencies such as Ethereum (ETH), Ethereum Classic (ETC), Zcash (ZEC), and others. In a GPU mining rig, we have a computer to which we connect multiple GPUs or graphics cards to use as a mining accelerator. Each GPU acts as a mining node and provides tremendous power, and this power is multiplied by the GPUs installed in the rig.
Due to their easy assembly and low maintenance, GPU rigs are the most popular mining item for small cryptocurrency miners. They are also very versatile. For example, if a miner is mining Ethereum with a rig and the rig is no longer functional, they can use the rig to mine a different cryptocurrency simply by changing the mining program and redirecting it to a different cryptocurrency.
All FPGA is another widely used cryptocurrency mining tool at this time. Back then, they offered a good mining capacity for various cryptocurrencies, but the optimization of GPU mining and the introduction of ASICs eventually supplanted them completely.
The tool most commonly used by miners today is the ASIC or integrated circuits for specific applications. These are hardware devices specially designed to perform a very specific task. This is why ASIC miners are so powerful, as they are designed to get the maximum possible performance for this purpose.
How to build mining rigs?
At this point, surely the big question on your mind is how do I create mining rigs? The answer to this question is a bit complex as it depends on various factors that you need to consider for it.
For example, ask yourself this: Are you planning to mine from home? Do you want an electricity bill that is too high and your electrical equipment allows it? Do you have space to set up a mining rig that won’t bother you or the neighbors? How much are you planning to invest? What knowledge do you have of the elements that can form a rig? Which coins will you mine exactly? How much mining profitability do you want to achieve?
The truth is that there are many questions, but they are necessary because the answers you provide to each of them will give you an idea of how you should assemble your rig to get the most out of it. To give an example, mining Ethereum from your room with a rig with four GPUs is not the same as doing it with a rig with four ASICs, partly because you can’t sleep due to the noise of the ASICs.
Also, the investment and the monetary gain are not the same. A GPU rig for Ethereum with four AMD RX 580 can cost you around €1500. A rig of this type can earn you around €1.3 in daily profit. You can also install it in your home and it will be operational at least until the end of 2021.
For comparison, a 3 MH/s AntMiner E190 ASIC miner costs around €1300, consumes much more power (790 watts), and will no longer be profitable by the end of 2020. At this point, the ASIC has higher performance but is limited by the hardware that composes it. But instead, the Rig GPU gives you more flexibility, you can upgrade it by switching graphics cards and you can do it gradually without any problem.
Why Bitcoin cloud mining?
An unknown individual or group called Satoshi Nakamoto introduced the Bitcoin network in 2009. In 2021, there will be more than 10,000 different projects in cryptocurrencies. So each of them has its role in building the future of money.
The market value of cryptocurrencies reached $ 1 trillion for the first time in January 2021. It passed $ 2.5 trillion less than three months later. So it shows that this market is one of the growing markets favoring its investors.
Bitcoin Cloud Mining is the process by which you participate in a mining pool to a cloud miner website and purchase a certain amount of hash power. In this pool, the profit will distribute equally among all participants who have participated in the mining pool. It will happen based on hash power. Also, the cloud mining platform allows you to mine your BTC without installing any hardware and at no extra cost. So Minerland, the best crypto cloud mining service to earn Bitcoin, helps you invest in Bitcoin easily and with low risk. For more information about us, you can follow Minerland’s Instagram account.
How To Build Crypto Mining Rigs
Factors to consider when building a facility:
With that said, and letting you know the importance of being clear about what you want to do, we can tell you that there are several common factors to consider when building a rig, and these factors are:
Mining control point
If you plan to mine with a rig GPU or ASIC, you need to have a control point that allows you to control all mining. In a rig ASIC, this role can be played by a computer that acts as the control interface for each of the ASICs. But on a rig GPU, the same computer that powers the GPUs can do this job. In any case, you should be particularly careful at this point, especially with the rig GPU. This is because it will depend on this team to manage all GPUs. So make sure it’s reasonably powerful and has good RAM capacity (at least 512MB RAM for each GPU in the rig).
GPU or ASIC selection
The most important point is the selection of the GPUs or ASICs to be used. In both cases, not just any GPU and ASIC will do. Instead, you should study the models, the power delivered, the energy consumed, and the approximate profit minus the electricity and maintenance costs before deciding on a device. This is important as it depends on whether you can recover your investment. And often, choosing the most expensive GPU or ASIC doesn’t guarantee you higher profits it can lead you to the opposite. For example, an AMD RX 580 GPU has a throughput of around 30 MH/s for mining on Ethereum, while an AMD RX 5700 XT has around 50 MH/s. The problem is that the 5700 XT can be up to three times more expensive and doesn’t give you twice the performance, making it a poor option for mining.
Another important point is the software you will use for mining. This should be tweaked to get the most out of the mining gear you are using. If it’s a GPU, it needs to be optimized for your GPU. If it’s an ASIC, it’s the same story. In any case, the optimizations aim to offer you the best performance, with more or less energy consumption depending on the case.
Energizing this whole set is vital. ASICs are avid power consumers, and GPUs follow to a lesser extent. In both cases, you must guarantee a stable power supply for both teams. This is important to maintain the life of your equipment and keep it in good working order at all times.
Cooling. All electronic devices heat up and miners get very hot, so cooling ensures your device works properly, avoiding any kind of overheating and extending its lifespan.
Cupboard or shelf
This is our final element to consider, but not least. And the reason is quite simple: the best cooling in the world is worth nothing if you lock everything in a box. Rigs should be installed in locations with good ventilation so they can take full advantage of the air conditioning. Another important point is that this room must offer you a certain level of soundproofing. This is important to isolate yourself from noise and is not an option when mining with ASICs.
How much does it cost to build mining rigs?
Another complex question about rigs, and the answer is, as always, it depends on what you’re using to build your rig. For example, a GPU rig is generally cheaper than an ASIC rig, although the performance of the latter is higher. It will also depend on other factors as we have stated above. Did you assemble the rig at home? This way you save yourself from renting a room, but you certainly have to invest some money to soundproof the place. Do you have an abandoned basement or basement? You won’t spend on soundproofing, but you may have to spend on air conditioning.
As you can see, many factors affect the final price of an investment in building a rig. However, a basic rig GPU can cost you around €1300 (4 AMD RX 580 GPUs). You can easily keep this in your room, it makes noise but is not that annoying. If you’re already ramping up the performance or adding more powerful (and noisy) GPUs, it’s time to splurge on a soundproof box or head straight into preparing a spot for your rig. And that can easily cost you around €500 if you put in the effort to make it yourself.
A rig ASIC, on the other hand, will be more expensive. An ASIC like the Innosilicon A10 Pro (500Mh/s for Ethereum) costs around 2500 €. This ASIC doesn’t consume a lot of power (750 watts), but it’s quite noisy and you don’t want to have it in the game over and over again in the same room.
Many people starting in the community believe that a mining rig is a “make and forget” investment. That said, just making the rig and getting it working is enough to forget about it, as it will generate profits on its own. This is wrong, the rigs need to be maintained, constantly checked, tuned, and even intervened if we need to change the currency to be mined to keep making profits. All of this requires knowledge, hours of work, and dedication that must be considered when it comes to mining rigs.
Mining with Mining Rigs: What can I mine?
Another question that depends on exactly what you’re doing on your rig. For example, mounting a rig GPU will not allow you to mine cryptocurrencies where ASICs are the norm. These include cryptocurrencies such as Bitcoin, Bitcoin Cash, and Dash, among others. The reason? GPUs will never give you the power you need to make profits on such a blockchain as ASICs are much more powerful. In these cases, you should use a rig ASIC and invest in enough powerful gear to be able to mine with guarantees.
If you plan to mine with a Rig GPU, your options are more limited. Cryptocurrencies like Ethereum, GRIN, or RavenCoin are your best options. Of course, you will be at the breakeven point, so don’t expect this situation to last long, and even more so in the case of Ethereum, which is on the verge of becoming a Proof of Stake (PoS) cryptocurrency.
The future of mining rigs
However, mining rigs will remain by far the easiest way to mine cryptocurrencies at “low cost”. They are not as powerful as a farm, but they can also offer rewards if you know how to provide optimal answers to all the questions that arise around their creation.
However, little by little we will see how the GPU rigs look more and more shifted. ASIC mining is fast becoming the king of mining in all cryptocurrencies. And with exceptions like Monero and its RandomX algorithm, homegrown GPU or CPU mining could be gone in a few years.