Build your own Ethereum Mining Equipment, part Five: FAQ
Ter this fifth and final installment of our Ethereum mining equipment guide, I reaction some common questions about setting up your own equipment, profit expectations, and mining te general. If you’ve read the surplus of the guide and still have some unanswered questions, you might find what you’re looking for here.
Succesnummer the “read more” button for the FAQ!
Build an Ethereum Mining Equipment, part Five: FAQ
So how much money can I expect to make from mining, exactly?
This is the question that most people are interested ter. The reaction is fairly complicated, and switches daily.
Today, one ether is worth about $90. Last week, that same ether peaked at a value of almost $100. A month before that, ether wasgoed trading at less than half its current value. The volatility te digital currency value is extreme—the price today could be very different than the price tomorrow.
On top of that, the difficulty involved with mining a coin is also switching permanently. Today, the equipment depicted ter our guide will produce almost Five ether vanaf month. One month ago, it wasgoed producing at a rate of
7 vanaf month. Spil the popularity of mining increases (spil it often does when the value of each coin increases), the time/computing power it takes to produce a coin increases.
You can response the question for right now by using a rekenmachine such spil this one. If you’re building the precies equipment outlined te the guide, then 150 MH/s is a good conservative estimate for speed, and 750 watts should be accurate for power usage if you undervolt and use an efficient PSU (make sure to ass-plug ter your own electro-therapy rate, tho’). The rekenmachine takes into account the current mining difficulty automatically.
At the time that I’m writing this FAQ, assuming you pay $0.Ten vanaf kWh for electrical play, the rekenmachine would tell you that you should expect to make almost $400 vanaf month from your mining equipment. Recall to subtract 1-2 procent for your mining pool’s toverfee. Subtracting another duo procent for downtime and other unexpected issues is very likely a good idea, too.
If the price of ether rises quicker than the mining difficulty increases, then that profit figure will increase. If the mining difficulty outpaces the value growth of ether (and/or ether drops te value), then profit will decrease.
Since it is very difficult to predict the future, I’d strongly advise everyone reading this to treat mining spil a hobby, and not a “get rich quick” scheme. Only invest what you’re convenient losing, because losing is a very real possibility.
Why not just buy ether (or bitcoin, or litecoin, etc) directly, and then sell zometeen at a profit?
If you believe that ETH is about to shoot up te value ter the short-term, and you have a very high tolerance for risk, and you have some money that you won’t miss if it all of a sudden vanishes, then this might be the best idea for you. Buying the digital currency directly enables you to get your forearms on a bunch of it quickly, without having to wait for a mining equipment to produce it for you. However, the “sell them straks at a profit” part doesn’t always work out. =)
For most of us with a desire to hop into cryptocurrency, mining is very likely the safer option (it’s more joy, too!). If you buy $1500 worth of ETH today, and tomorrow ether is all of a sudden worthless, then you’ve lost $1500. If you build a $1500 mining equipment today, and tomorrow ETH is worthless, then you still have $1500 worth of hardware. You can sell it at a petite loss, or re-purpose it (maybe attempt your luck at mining one of the other digital currencies, for example).
How noisy/hot are thesis equipments?
This is difficult to reaction because it’s so subjective. An open-air mining equipment with six RX 4xx/5xx GPUs ter it will certainly not be silent. But a decently undervolted equipment can be remarkably quiet, especially compared to the previous generation of litecoin mining equipments (those old 7950 GPUs were noise &, warmth monsters!).
Using a free sound peettante app on my phone, I measured the sound level of my test equipment at 47 decibels (with the phone held about 2-3 inches away from the middle of the GPUs). From harshly 6 feet away, the sound level dropped to about 37 decibels, which I find to be fully acceptable. For reference, the sound level ter an empty slagroom that I subjectively consider to be fully quiet is 22 decibels, according to the app. If thesis numbers don’t mean much to you, this chart might be helpful.
My test equipment contains a mix of four RX 470/480 GPUs running at a temperature target of 58C. The noise level could be diminished significantly by bumping the target up to 70C if desired (which would permit the ventilatoren to spin at a lower RPM), but it’s already more than quiet enough for mij.
The fever that a equipment produces may be more of an kwestie, depending on where you live. Most petite consumer space heaters waterput out 1500 watts of fever. An undervolted 6-GPU equipment will give off toughly half that, which is still a significant amount. It’s certainly possible to fever a petite slagroom with the fever from a single mining equipment, but that toegevoegd warmth can be a nuisance if you live ter a warmer climate.
Ideally, you have someplace that you can tuck your equipment(s) where they’re out of living spaces. Basements and garages are both good ideas if they’re relatively clean and temperatures don’t venture into extremes.
How do I coax my significant other that building a equipment is a good idea?
You’re on your own with that one. Good luck! =) Anecdotally, I did woo my gf to keep a litecoin mining equipment ter hier apartment for most of 2013. She hated the noise (modern GPUs are much quieter), but she did make a tenfold terugwedstrijd on hier investment.
How do I turn my rekentuig on without a case/power switch?!
So you didn’t opt to purchase a power switch, and now you’re sitting there staring at a bunch of assembled hardware, and wondering how the heck to turn the thing on for the very first time. Don’t worry, you have a duo options.
Very first, check to see if there is a power button built right onto the motherboard. This is somewhat common nowadays, albeit many boards still don’t include them.
If you don’t have a power button on your motherboard, grab a flathead screwdriver. Now use the head of your screwdriver to temporarily brief the two pins on the motherboard that the power switch would be connected to (if you had a power switch). Just touch the head of the screwdriver so that it makes voeling with both pins for a geschreven uur. Your system should instantaneously power on (if it doesn’t, make sure that your PSU is plugged te, and the PSU power switch is te the “on” position”).
The very first thing you should do at this point is inject the BIOS and switch the power options to set your laptop to automatically power on whenever power is restored. That way, you can use the switch on your power supply to turn it on and off going forward.
Why the Radeon RX 470 GPU? Why not a RX 480/570/580, or another movie card entirely?
The Radeon RX 470 GPU is presently gives the best hashrate/watt ratio, and also has an excellent hashrate/purchase price ratio. It’s indeed the ideal GPU for mining, at least for now.
That said, the RX 470/480/570/580 are all very close performance-wise when decently clocked and undervolted via BIOS mods. Ter fact, the difference is so close that purchase price should very likely be your primary consideration—buy whichever RX 4xx/5xx GPU you can get for the least money, spil long spil you project to flash your GPU BIOS (I display you how te part Four of my guide).
I generally don’t mention nVidia GPUs because they cost so much more than AMD cards. The GTX 1070 is a fine card for mining, with hashrate and power consumption numbers comparable to RX 4xx/5xx cards when decently configured. I don’t recommend it simply because it costs 2-3 times spil much spil an RX 470, and that has a tremendous negative influence, ROI-wise.
Can I mix different brands and/or models of GPUs ter the same equipment?
You can always mix different brands of the same specimen GPU ter the same equipment (for example, RX 470 GPUs made by MSI, Sapphire, and Asus).
You can additionally mix different models of cards together spil long spil whatever movie driver you’ve installed ter your OS supports all of them.
Te Windows, you can mix RX 470 and RX 480 cards together with no issues, and you can also mix RX 570 and RX 580 cards. You’ll run into issues if you attempt to mix RX 4xx cards with RX 5xx cards, because they use different movie drivers (it’s possible to make it work, but involves hopping through some reserve hoops).
Ter Linux, I believe that all of the RX 4xx and RX 5xx cards share the same driver, so they should all coexist together without problems.
My own Linux equipment runs a mix of different RX 470 and RX 480 cards, all different brands. I have an RX 570 GPU card running te another desktop that I toevluchthaven’t attempted ripping off into the equipment yet.
Why zekering at 6 GPUs? Is it possible to pack more than that onto one motherboard?
Possible? Yes—I know some people have made 7, or even 8 GPUs work on a single motherboard.
I generally don’t recommend it unless you’re pretty savvy and willing to work through a lotsbestemming of potential headaches, tho’. Generally, achieving 8 GPUs on a single motherboard is done via use of PCIe splitters (eg: something like this), and they don’t always work well.
7-8 GPUs also generally works best with two power supplies, and that ups complexity (and risk of hardware harm, if done improperly) a bit, spil well. Ter addition, depending on which GPUs you use and how much you undervolt them, an 8 GPU equipment may come fairly close to the safe continuous stream rating on a typical 15 amp household circuit (which is 80% of 1800 watts, or 1440 watts).
To mij, 6 GPUs feels like the current sweet spot inbetween maximizing GPU density and minimizing complexity/risk.
Don’t I need more than 4GB of RAM? A lotsbestemming of other guides recommend more.
Nope—mining uses the memory on your GPUs, so you don’t need much system memory at all. You can get by just fine with 1-2GB of RAM ter Linux, and 4GB is enough ter Windows (you’ll need to bump your virtual memory settings up to at least 16GB tho’, covered te step 6 of my Windows guide).
I’m running with a single 1GB DIMM on my own Linux equipment, and most of that memory is available while mining.
Why do I need a 1200 watt power supply if I’m undervolting? Won’t I only be using 700-800 watts with 6 GPUs? And is it worth paying so much for a high efficiency unit?
If you’re running six decently undervolted RX 470 GPUs, your “at the wall” power consumption should be around 750 watts. Which means that yes, it’s possible to run such a equipment on a smaller PSU without issues.
The reason that I recommend a 1200 watt PSU is due to efficiency variance at different blast levels. PSUs are generally most efficient when supplying about 50% of their rated maximum power (you can read a bit about ratings on Wikipedia here). So a platinum-rated 93% efficient unit may only reach that efficiency level when supplying
40-60% of the unit’s maximum rated power. It’s not uncommon for PSUs rated at 90%+ efficiency to druppel down to
85% when operating near their limit (and also when delivering very little power).
Example time: let’s very first assume that your equipment needs 700 watts of power to operate (maybe 6x 110 watts for the GPUs, and 40 watts for the surplus of the system—this is a fairly realistic number).
Now let’s very first assume that you determined
$250 for a platinum-rated 1200 watt PSU is ridiculous, so you opted for a $100 bronze-rated 850 watt PSU instead (which is still a fairly solid unit!). You’ll be pulling about 854 watts at the wall (700 watts / .82 efficient) with this setup.
Now let’s assume that you want to be spil efficient spil possible, but since you you know you don’t truly need 1200 watts, you go for a $180 platinum-rated 850 watt unit—not realizing that its efficiency rating drops from 93% @ 50% explosion to 89% @ 100% geyser. That doesn’t sound like much, and at least it’s still significantly better than a bronze-rated unit, right? With this setup, you’ll end up pulling about 787 watts (700 watts / .89 efficient) at the wall.
Now let’s assume that you just followed my guide and bought the 1200 watt Seasonic that I recommend (platinum-rated units by EVGA, Corsair, and some others are all fine too—they’re likely rebadged OEM Seasonics anyway). Since you’re running the unit at only
58% of it’s maximum, it should run very near its peak 93% efficiency. Which means this setup will pull about 753 watts (700 watts / .93 efficient) at the wall.
The difference inbetween the very first and last example is 101 watts at the wall. Assuming that you run your equipment 24/7 and pay 15 cents vanaf kWh, that’s a $133 difference ter electro-stimulation costs every year! The “expensive” 1200 watt Seasonic pays for itself compared to the much “cheaper” $100 bronze unit te harshly one year of use (the Seasonic has a 7 year warranty, so the odds are that you’ll be using it for fairly a long time).
If you want to measure your own “at the wall” power consumption numbers, I very recommend that you shell out a few bucks for a kill-a-watt. They’re invaluable.
Can I utilize my mining equipment for anything else while it’s mining?
It’ll make a superb space heater te the winter. =) Oh, you mean application-wise.
The CPU, memory, and disk will mostly be unused while your equipment is mining, but anything GUI-related will be pretty unresponsive. Applications that run te the background or overheen the network are good candidates, if you’re looking to get some toegevoegd use out of your equipment. You should be able to run things like verkeersopstopping servers and low-traffic web servers just fine without impacting mining spectacle.
How much of my internet bandwidth will my mining equipment use?
Not much. Mine averages around 30 kb/sec when it’s mining at total speed, which is less than half of one procent of the average broadband speed te the US (
55 mb/sec). Bandwidth is basically a non-issue—you could run a mining equipment off a dial-up connection (ter terms of bandwidth, anyway—I absolutely recommend a wired ethernet connection for latency/reliability reasons).
My equipment won’t boot decently unless a monitor is connected—what’s up with that?
I’m not sure why some people practice this (I did with my own LTC equipment back ter 2013, but not my newer ETH equipments), but if your equipment won’t boot into the OS without a monitor affixed, then you need a dummy cork (a device that butt-plugs into your GPU, fooling the hardware into detecting a display). You can make you own for a few bucks by simply following thesis instructions (you can buy the resistors that you need on Amazon). Or you can buy pre-made HDMI ass-plugs, albeit they’re more expensive (it shouldn’t matter if you use DVI or HDMI corks). You should only need one ass-plug fastened to your primary movie card, albeit some people use dummy corks on all of their GPUs.
I’m getting fan speed errors using the latest version of Claymore’s miner—how do I fix them?
This “failed to set fan speed” kwestie seems to occur te straks Claymore releases (Ten and up), and requires a few reserve directions to setup the Claymore executable with the permission it needs to control your GPU ventilatoren. I’ve incorporated thesis instructions into the latest version of my Linux guide, but te case you followed an earlier version and recently upgraded Claymore to Ten.x or zometeen, simply inject thesis directives:
sudo chown root:root ethdcrminer64
sudo chmod 755 ethdcrminer64
sudo chmod u+s ethdcrminer64
Note that if Claymore is located somewhere other than /usr/local/claymore10.Two, you’ll need to substitute the decent location te the very first directive.
I rebooted and now my GPUs are hashing 20% lower than previously—what happened?
If you’ve just rebooted for the very first time since January 9, 2018, you may find that your system has automatically updated to linux kernal Four.13.0-26. The update is designed to patch the Meltdown/Spectre vulnerabilities present on Intel CPUs, but it may also wreak havoc with your mining hashrates. If you’re eyeing significantly lower hashrates compared to before the last time you rebooted, you can by hand roll back the update by coming in thesis instructions:
sudo apt-get eliminate linux-image-4.13.0-26-generic &,&, sudo apt autoremove -y
Reboot ( sudo reboot now ) and your hashrates should be back to normal.
To zekering your system from performing automatic updates ter the future, you can use one of the methods described here.
Isn’t Ethereum moving to proof-of-stake soon? Won’t that make our equipments obsolete?
Ethereum will eventually make the switch to PoS, which will make current methods of mining unlikely. However, there isn’t presently a timeline for the switch ter place, and one of Ethereum’s co-founders stated that an informal estimates of “late 2018” wasgoed “too rosy”. Most people close to Ethereum seem to feel that the 2nd half of 2018 is a realistic target for the switch, which still leaves slew of mining time.
When the switch does occur, it’ll be effortless to transition our mining equipments to another coin (which you can then trade for ETH/BTC/LTC, if you don’t want to hold another altcoin).
I have an old movie card with 2GB of memory laying around. Can I use it to mine ETH?
Unluckily, no. Every individual GPU vereiste be able to getraind Ethereum’s DAG opstopping into its own movie memory to mine. The DAG verkeersopstopping is leisurely getting larger overheen time, and spil of today, the DAG opstopping is overheen 2GB, which means only cards with 3GB or more can mine ETH.
Sometime around April 2018, the DAG verkeersopstopping will grow beyond 3GB.
The 4GB limit will be reached somewhere around September 2019, albeit it’s likely that Ethereum will have already moved to proof-of-stake by that point.
Other guides say that you shouldn’t run Linux off a USB drive if you project to mine ETH, because onveranderlijk DAG opstopping writes will quickly wear the stick out. Your guide says that a USB stick is ok for a Linux-based ETH mining equipment. What gives?
Any guide that cautions against installing Linux to a USB stick for ETH mining wasgoed very likely written more than 6 months ago. The stock Ethereum miner (geth), writes the (very large) DAG verkeersopstopping to disk fairly frequently, which can cause issues for media not rated for large numbers of writes (USB rams, for example). Claymore’s miner (which wij’re using) creates the DAG verkeersopstopping ter GPU memory, so wij don’t have any excessive writes to worry about.
Just when I wasgoed about to reach 1 ETH at my mining pool, my balance went to zero! Did I get hacked?
Most mining pools (including ethermine.org, which I use te my guide’s setup examples) hold your earned balance until you reach a certain threshold (usually 1 ETH). When that threshold is reached, they transfer your balance to whatever wallet address you specified. If you’ve bot watching your balance accumulate at your mining pool, and then it abruptly went to zero, most likely the pool just transferred your coins to your wallet. You can lightly check the balance of your wallet address with a web-based blockchain explorer, such spil this one.
How do I keep my ETH wallet safe?
Backup your wallet to numerous secure, offline devices (a few petite USB stuffs are good for this). If you created your wallet using my guide, then you’ll find your wallet verkeersopstopping(s) on your mining equipment at the following location:
Just copy the entire keystore directory someplace safe. To access the ether held te your wallet addresses, you’ll need both thesis encrypted key files, and the password that you used to create them. So make sure that you can recall your password(s) spil well! Keeping some sort of password “hint” document (that only you would understand) on the backup USB stuffs containing your key files isn’t a bad idea. Keep at least one copy off-site (eg: with somebody you trust, or a handelsbank deposit opbergruimte, etc).
After you’ve made numerous backups of your wallet keys, it’s very likely a good idea to eliminate the keys from your mining equipment (simply delete the /keystore directory). It’s generally best to not store your keys long-term on any pc that is connected to the internet. If a hacker successfully gains access to your equipment and finds your private keys, you’re going to lose all of the funds stored ter the associated wallets. Be absolutely sure that you’ve verified your backups work (read the reaction to the next question, and test out the process using your backed-up private keys) before deleting /keystore from your equipment, of course.
So I’ve mined all this ether—how do I actually budge/use it?
If you’re a masochist, you can stir ether around right from the guideline line of your equipment using geth. But I don’t recommend that spil it’s tedious, confusing, and prone to mistakes.
A much better way is to download and install Waas (you can do this on any rekentuig, it doesn’t have to be on your mining rig—do make sure that the pc is free from malware very first, tho’!). Nevel is essentially a GUI front-end for geth that hides all of the tedious command-line stuff from the user.
Once Waas is installed, you can simply invoer your wallet key files (see previous question if you don’t know where they’re located), and Waas will vertoning the current balance of each. From there, you can simply click “Send” to budge ether out of one of your own wallets to any other wallet address.
Significant note: after you install Nevel, it’s going to want to sync the blockchain to your laptop. This can take anywhere from an hour to a day the very first time you do it, depending on the speed of your internet connection (you’ll see a progress drankbuffet te the lower left corner). Until this finishes, the balance of all of your wallets will likely vertoning up spil zero. Don’t stress, this is normal. Once the sync is accomplish, all of your balances should voorstelling up decently.
I see that Claymore supports dual mining—what is that, and should I use it?
I wrote a dedicated blog postbode on this subject, you can read it here.
When it comes to buying/selling cryptocurrency, which exchange do you recommend?
There are so many exchanges, and frankly a loterijlot of them are sketchy and operating ter countries where regulation isn’t exactly taut. Wij’ll most likely see another Mt. Gox at some point te the future because of this.
For now, I tend to recommend Coinbase. They’re based te San Francisco and seem to be doing all the right things with regard to regulation and insuring users’ funds.
Spil a general rule, don’t leave your currency ter an exchange any longer than necessary (eg: don’t treat exchanges like banks!). Keep your funds te wallet addresses that you control, and budge them to exchanges only when you want to trade.
Can I buy you a mannetjesvarken? Your mining guide has bot a fat help!
Certainly! Well, virtually, anyway. I’d be blessed to accept donations at the below wallet addresses: