12.6GH/s Ether Mining Farm

HashKingHashKing Member Posts: 13
Hello everyone,

My friend and I have started building our 12.6gh/s mining farm. Right now we have 8 rigs with 6 GPU's each.


Current 8 test rig setup (6x Sapphire Nitro+ RX 580's (8gb) per rig)


Each rig is doing 180mhs to 188mhs. We have already bought all the parts for the next 62 rigs. I will update with a detailed walk through of our setup as we build it out.

=D
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Comments

  • theonektheonek Member Posts: 94
    i doubt you will have roi at all....
  • theclamtheclam Member Posts: 91
    edited February 8
    Looks awesome! You will ROI!
    How in the world are you finding GPUs to buy?
  • theonektheonek Member Posts: 94
    soon enough there will be gpus for everyone as the intensity of minig will drop tremendously due to low prices and non-profit any more....
  • Ericjh801Ericjh801 Utah, USAMember Posts: 362 ✭✭
    Very cool. I am also curious to how much you paid for GPU's? So far i'm running 5 rigs with 8 cards each, looking to go farther depending on what I can find for GPU's.
  • wirelessnet2wirelessnet2 Member Posts: 385 ✭✭✭
    yeah dude I don't think you're going to make ROI on that.
  • Ericjh801Ericjh801 Utah, USAMember Posts: 362 ✭✭
    Really depends on what his equipment costs were I guess. Might take awhile.
  • cidmocidmo Member Posts: 445 ✭✭✭
    only psychics and time travelers know if he will ROI
    my only concern is the length of time his GPU will run at 30Mh
    i can hear his cards crying from here
  • Ericjh801Ericjh801 Utah, USAMember Posts: 362 ✭✭
    Who cares if they are crying as long as they break before the warranty period is over :)
    cidmo said:

    only psychics and time travelers know if he will ROI
    my only concern is the length of time his GPU will run at 30Mh
    i can hear his cards crying from here

  • HashKingHashKing Member Posts: 13
    Thank you for all the replies everyone.

    As for ROI - due to the quantity of cards we purchased, ROI will hit at about 10-11 months. We obtained a very good deal on the cards from a national distributor.

    Concerning POS - we will mine whatever coins are profitable. Acquiring a larger amount of ETH before POS is our goal. Our calculations show very large profit margins for our farm. The small scale test has worked out great which is why we are expanding.

    Each card is pulling between 100 - 130 watts out of the wall. We are paying $0.10 USD per kw.

    The building we are running the farm in is already used by us for our other business - so there is no extra rent overhead. ROI is strictly cost of parts, electricity, and electrician labor to improve our power distribution.

    Cidmo: Regarding life span of the cards. The ambient room temp is 20* Celsius. We have two large 30" fans (one to blow cold air over the cards, the other is an exhaust fan to move hot air out of the room). All the cards have had a vbios mod on the memory straps, memory clock increase, core clock decrease, and undervolt settings applied. They run at 58-68* Celsius.

    Here are some smaller shipment of cards that have arrived. We are awaiting our pallet shipments which has the bulk remainder of the cards to achieve 12.6ghs



    Will update more shortly!! Stay tuned!!



  • Ericjh801Ericjh801 Utah, USAMember Posts: 362 ✭✭
    Would you mind saying what you ended up paying per card? Just out of curiosity. Thanks!
  • HashKingHashKing Member Posts: 13
    Update: Some of the motherboards, ram, SSD's, and CPU's have shown up.



    @Ericjh801 - I paid between $350 - $400 per card (depending on the type and manufacturer)

    More to come soon!
  • Ericjh801Ericjh801 Utah, USAMember Posts: 362 ✭✭
    Nice! That's not terrible price wise! Keep us posted when you get it all setup. I'd love to expand but i'm unwilling to spend 400+ per card :)
  • asusrigasusrig Member Posts: 127
    I bought eighteen Saphire Nitro + RX580 8 GB cards for $349 on Amazon late last year. A few days later I was able to grab another five from Amazon for $289!

    Six of these cards are giving me around 190 mh/s or just over 31.6 mh/s per card. It fluctuates between 189-190.

    However the difficulty has been rising!

    At current difficulty you'll be able to mine around 380 ETH per year with 12.5 GH/s. You might have power outages or some rigs will require rebooting occasionally. Expect that number to come down. But let's use that number in our calcs.

    Current price for ETH is $800. This may go up or down, nobody really know.

    $800 x 380 = $304,000

    You said you are at around 180-188 mh/s for six cards. So let's take the average of 184 / 6 = 30.66 mh/s per card.

    For 12,500 mh/s you would need 407.6 or 408 cards or 68 rigs.

    Edit: Just remembered you said you will have 70 rigs so that is 420 cards.

    So let's assume you will have 12,877 mh/s with 420 cards. (30.66 mh/s per card). That will give you around 390 ETH per year at current difficulty. However as mentioned some rigs will have to be rebooted etc. so you will not get 390 ETH per year.

    $800 x 390 = $312,000 = USD value of ETH mined per year based on current price

    You spent around $350-$400 per card. Let's take average of $375.

    $375 x 420 = $157,500 = GPU Hardware Cost

    Based on my own experience six RX580 cards will draw around 900 watts at the wall by themselves. This is with gold rated power supplies. If you are using lesser quality the draw will be even more. Now you have to add in power draw for the CPU and RAM etc. I suspect you will be around 1000 watts per rig. Unless you are able to get the power draw down better than I have been able to. I am pushing slightly higher hash than you so maybe your are drawing less.

    70 rigs x 1000 watts = 70,000 watts

    You pay .10 USD per KW.

    +/- $61,320 per year = Electrical Cost

    Your motherboards go for around $154 on Amazon. Let's say you paid $130

    $130 x 70 = $9,100 = Motherboard Cost

    Looks like you are running Corsair HX1200 PSUs. You are running close to the limit with a power draw of 900-1000 watts. (unless your draw is less)

    Nor sure how much you paid for the PSUs but I'll plug in $225.

    $225 x 70 = $15,750 = PSU Hardware Cost

    Decent Risers cost around $50 for six.

    $50 x 70 = $3,500 = Risers Hardware Cost


    Not sure what Pentium CPU you got but will assume $70 per unit.

    $70 x 70 = $4,900 = CPU Hardware Cost

    4GB RAM - decent brand will cost a little over $50.

    $50 x 70 = $3,500 = RAM Hardware Cost

    120 GB PNY SSD = $50 per unit ballpark

    $50 x 70 = $3,500 = SSD Hardware Cost

    Total Hardware Cost: $197,750 or close to $200,000
    Total Electrical Cost: $61,320 per year
    Total ETH mined in USD per year: $304,000

    Profit: $304,000 - $197,750 - $61,320 = $44,930 in first year!

    Ethereum's price will have to go up because difficulty is increasing. You might only mine 200 ETH per year as things are going or even less. It is by no means clear that you will ROI or make a profit.

    I suspect a lot of people are going to quit mining ETH soon because of the difficulty rising and I do think the market will be flooded with GPUs sooner than later.
  • Ericjh801Ericjh801 Utah, USAMember Posts: 362 ✭✭
    edited February 8
    Just because they quit mining ETH doesn't mean they quit mining all together though. Your ROI calcs look good though, it's going to be a long road there but if ETH goes up then maybe not, if it goes down, then ROI never happens. It's a gamble right? There is no guarentee's doing this unless you sell it as you mine it to cover some of the costs. I hope the prices come down on cards or the market shows up with a ton of used ones at a good price, as i'll be joining in on making a bigger farm myself. Big game of speculation at this point.
  • HashKingHashKing Member Posts: 13
    We are prepared for a 12 month ROI + a little profit. I have ran many calculations on several coins (not just ETH). We will definitely be profitable and are not expecting a big return the first year. The second and third year is where the profit really makes sense.

    @asusrig - Also, we will be holding all of our ETH coins until the end of the year, paying out of pocket for the electricity, etc. We believe Ether will be far more valuable later this year which could double of potential profits. When ETH hits $1200 - $2000 per coin, our profit margin will be far greater than the calculations you provided.

    We also have 94 AntMiner L3+'s coming in. We are in the process of acquiring a large sum of investment funds (5-6 million USD) to expand our mining operation. The electrical company is drafting plans to run 3 more 3 phase 480v lines to our building from the transformer. This will give us around 6,000 amps total (plenty of power to run as many machines as we can buy).
  • asusrigasusrig Member Posts: 127
    HashKing said:

    We are prepared for a 12 month ROI + a little profit. I have ran many calculations on several coins (not just ETH). We will definitely be profitable and are not expecting a big return the first year. The second and third year is where the profit really makes sense.

    @asusrig - Also, we will be holding all of our ETH coins until the end of the year, paying out of pocket for the electricity, etc. We believe Ether will be far more valuable later this year which could double of potential profits. When ETH hits $1200 - $2000 per coin, our profit margin will be far greater than the calculations you provided.

    We also have 94 AntMiner L3+'s coming in. We are in the process of acquiring a large sum of investment funds (5-6 million USD) to expand our mining operation. The electrical company is drafting plans to run 3 more 3 phase 480v lines to our building from the transformer. This will give us around 6,000 amps total (plenty of power to run as many machines as we can buy).

    Wow, you guys are thinking big!

    I also planned on holding my mined ETH and can pay for electrical and hardware out of pocket. However with the recent price correction it made me question that strategy. A few weeks ago I would have said the price of ETH was going to the moon! And maybe it will. But you just don't know and we are not done yet with FUD coming from the banks and governments. Seems like the crypo market really gets spooked as soon as negative news comes out from either banks or governments.
  • HashKingHashKing Member Posts: 13
    @asusrig - I would stick with your initial strategy. Price corrections happen all the time, look over the charts from previous months/years for eth and other coins (btc, etc.). They always bounce back. There have been many price corrections that happen around Christmas time and before Chinese New Year. You have 4 billion + Chinese people traveling by train, plane, and car with their families to see ancestral sites - many of whom cash out their stocks, coins, and other investments to pay for the traveling expense.

    I am very confident that the price will bounce back. At the scale we are mining, holding coins for the POS system will be worth it.

    We just received another pallet of 200 video cards - I will post pictures of the build soon!
  • RedsquirrelRedsquirrel Member Posts: 32
    edited February 10
    Damn, that's awesome! You're lucky to have a special connection to be able to buy all that. When I originally got into mining I fantisized about buying land, putting up a 10kw+ solar array and building a small mining farm. But reality is I can't get hardware. That and the initial capital is kinda a big risk. Even if I could get the hardware now not sure if I'd do it. If anything there is something pretty awesome about doing something like this at a big scale. Looks like a fun project. Also free heat! You could heat a decent size house with that lol.
  • asusrigasusrig Member Posts: 127
    HashKing said:

    @asusrig - I would stick with your initial strategy. Price corrections happen all the time, look over the charts from previous months/years for eth and other coins (btc, etc.). They always bounce back. There have been many price corrections that happen around Christmas time and before Chinese New Year. You have 4 billion + Chinese people traveling by train, plane, and car with their families to see ancestral sites - many of whom cash out their stocks, coins, and other investments to pay for the traveling expense.

    I am very confident that the price will bounce back. At the scale we are mining, holding coins for the POS system will be worth it.

    We just received another pallet of 200 video cards - I will post pictures of the build soon!

    China is starting to block Crypto Exchanges. That would reduce Chinese participation more than the Chinese New Year don't you think?

    http://fortune.com/2018/02/05/bitcoin-china-website-ico-block-ban-firewall/

    I read that Ethereum founder Vitalik Buterin has thrown around a guesstimate of needing approximately 1,000 ETH to be one of the network's inaugural stakers. With 12.6 GH/s you'll probably mine less than 300 ETH in a year considering the difficulty increase the past 2 months. Not sure how much ETH you have accumulated already via mining and investments but someone starting out now with only a few ETH would need quite a bit of hashing power to accumulate at least 1000 ETH in a year.

    In November 2017 you could mine over 1 ETH per week with 1.3 GH/s and now that is down to .76 or even .75.

    I am switching my Nvidia cards to ZEC mining right now. I mined it a few months ago and it seemed a little more profitable than ETH. I probably should have kept mining it but tried my luck on ethpool.org which was a mistake and cost me 2 ETH. The ZEC / ETH Exchange rate seems to hover at around 2:1 but is was down to 1.6:1 a few weeks ago when ZEC's price was over $800.
  • mbrandombrando Member Posts: 21
    Hello,

    Thanks for posting.

    I've been tasked with doing a proof of concept. We started with one 6 GPU rig and are not looking to see where we can get GPU cards in bulk for additional rigs. Our model is similar to yours in that we extra space in our current building.

    - Mike
  • yodiyodi Member Posts: 265 ✭✭
    the hell , very nice to find some lot of gpu , i sincerly happy for you ... nice done , dont worry returns , there still profit . just take care of HW error for gpu long life !
    0.10/kwh is not bad. antminer is darkside , dont give them your dollar ... but if you need l3+ blissz modded frimware , tell me , isend me pm ont bitcointalk -> cryptonitro
    best hs/w , and lower noise .. and no 100% fans anymore , devfee = 1,5%

    have a look Here
  • yodiyodi Member Posts: 265 ✭✭
    theonek said:

    soon enough there will be gpus for everyone as the intensity of minig will drop tremendously due to low prices and non-profit any more....

    you dont know what you are talkging about , people told that to in 2016 ! when we were mining more that 1 eth/day with a single 6x gpu rig !

    hashking , very happy for you to can found so much gpu in this time. search for modded firmware for l3+ i got it if need but bitmain is veryu bad , and i wont send them 1 ct more . i would really love to have so much invest ... cause i m going to change country to develop slowly farm for average of 0.07 €/kwh. cryptoworld is a passion , and please have some machine for ELLA the only real pure coin at this time !


    REGARDs
  • HashKingHashKing Member Posts: 13
    yodi said:



    theonek said:

    soon enough there will be gpus for everyone as the intensity of minig will drop tremendously due to low prices and non-profit any more....

    you dont know what you are talkging about , people told that to in 2016 ! when we were mining more that 1 eth/day with a single 6x gpu rig !

    hashking , very happy for you to can found so much gpu in this time. search for modded firmware for l3+ i got it if need but bitmain is veryu bad , and i wont send them 1 ct more . i would really love to have so much invest ... cause i m going to change country to develop slowly farm for average of 0.07 €/kwh. cryptoworld is a passion , and please have some machine for ELLA the only real pure coin at this time !


    REGARDs
    Exactly... Look back at the forums and blogs from over the years. People always say "it's not profitable to mine anymore!" - Well, in fact... it is profitable, even now.

    There is an inherent risk with this type of project - but the payout will be well worth it. I also find mining to be much safer than buying penny coins/ICO's. I know what the returns are versus guessing on a coin and having to day trade etc.

    The best time to start mining was yesterday, the next best time to start mining is today.
  • HashKingHashKing Member Posts: 13
    asusrig said:

    HashKing said:

    @asusrig - I would stick with your initial strategy. Price corrections happen all the time, look over the charts from previous months/years for eth and other coins (btc, etc.). They always bounce back. There have been many price corrections that happen around Christmas time and before Chinese New Year. You have 4 billion + Chinese people traveling by train, plane, and car with their families to see ancestral sites - many of whom cash out their stocks, coins, and other investments to pay for the traveling expense.

    I am very confident that the price will bounce back. At the scale we are mining, holding coins for the POS system will be worth it.

    We just received another pallet of 200 video cards - I will post pictures of the build soon!

    China is starting to block Crypto Exchanges. That would reduce Chinese participation more than the Chinese New Year don't you think?

    http://fortune.com/2018/02/05/bitcoin-china-website-ico-block-ban-firewall/

    I read that Ethereum founder Vitalik Buterin has thrown around a guesstimate of needing approximately 1,000 ETH to be one of the network's inaugural stakers. With 12.6 GH/s you'll probably mine less than 300 ETH in a year considering the difficulty increase the past 2 months. Not sure how much ETH you have accumulated already via mining and investments but someone starting out now with only a few ETH would need quite a bit of hashing power to accumulate at least 1000 ETH in a year.

    In November 2017 you could mine over 1 ETH per week with 1.3 GH/s and now that is down to .76 or even .75.

    I am switching my Nvidia cards to ZEC mining right now. I mined it a few months ago and it seemed a little more profitable than ETH. I probably should have kept mining it but tried my luck on ethpool.org which was a mistake and cost me 2 ETH. The ZEC / ETH Exchange rate seems to hover at around 2:1 but is was down to 1.6:1 a few weeks ago when ZEC's price was over $800.
    Many of the Chinese exchanges have moved to Japan, Europe, or surrounding countries - that does not mean that Chinese citizens will stop investing in crypto. It is a massive movement that is still in its infancy. Blockchain technology has revolutionized the world and will continue to do so.
  • jetpackjetpack Member Posts: 88
    edited February 12
    Yea I dont think its a ROI problem. Everyone was saying that when ETH was 200 coming from $6 in Jan 2017... and then it was 1500 a year later... If you look from a static TODAY point of veiw yea.. no good. But then you think hey Maybe ETH will hit $3000 then um.... YEA!

    Congrats, beautiful build.

    If you want to flop all those into a server rack let me know 8GPU.com , as long as you have cool room temps and exhaust heat its much cleaner and better on cards to have in 4U cases. I build parts for this at 8gpu.com Then you add a rack for $150 and you can have 1.4GHS in a small 2x2ft area. 2.8GHS in the 2x4ft. Just looks sexy too rather then air cooled with warm temps in room.

  • HashKingHashKing Member Posts: 13
    Update:

    Building out the next 15 rigs.



    3 motherboards per shelf



    More coming soon!
  • Ericjh801Ericjh801 Utah, USAMember Posts: 362 ✭✭
    Would love to see pics after you have the video cards attached to those racks/motherboards.
  • midoprincemidoprince Member Posts: 198 ✭✭
    try to manage it with Hive OS
  • HashKingHashKing Member Posts: 13
    Update: shelf #2 with video cards attached. Will update with more soon!








  • dipmandipman Member Posts: 2
    I'm assuming you are running windows with 8 cards.
    Have you considered running ubuntu with 13 cards?
    If you have, why did you stick with windows?
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