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Having a solid mining rig is essential for a miner, whether you’re a beginner or a professional. Your rewards and long-term success will depend on the rig’s productivity and power, so there’s a lot that needs to be tackled if you want to invest in Bitcoin mining.
Although Bitcoin is one of the best on the market, some consider mining it less advantageous than before. Besides the rising price of the cryptocurrency, volatility isn’t a big help if you want to learn how to buy Bitcoin with bank transfer, as rates can change daily. So, if you become a miner, you could earn significant returns in one day and close to zero in the next one.
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The fourth halving also puts a lot of pressure on miners because the reward will decrease by half. So, if you received 6.25 BTC for every block you mined, you will now get only 3.125 BTC for the following four years. Considering that the process will continue until about 2140 when the last Bitcoin is expected to be mined, this activity won’t be sustainable anymore. That’s why you may want to be able to create your rig at home. Here’s how.
Start with a GPU or ASIC
The core of Bitcoin mining was the GPU card, which was initially leveraged in gaming and graphics workstations. Graphics Processing Units have been useful to Bitcoin mining since they’re versatile and can be adapted to various tasks. At the same time, they can handle the complex computational tasks required for mining, and they have a high resale value.
However, GPUs are not that efficient anymore, and some miners use ASICs (Application-Specific Integrated Circuits) created especially for crypto mining. ASICs are more user-friendly and economical in the long term, but they’re appreciated for offering one of the best hash rates.
Unfortunately, both of these solutions are pretty expensive. Considering that a regular mining rig would need about sic GPU cards or fewer ASICs, the costs of only this part of the rig would take you towards a minimum of $2,000.
Search for the best power supply
Compared to other types of mining, Bitcoin requires extensive energy supplies to function at its peak. Generally, the consumption of a mining rig is around three kWh monthly, so you may need to search for high-efficiency power supplies to withstand mining for longer. Ideally, you would choose a product that offers around 1,000W, but depending on the graphic cards chosen, this can vary.
Still, you need two power supplies to reach at least 80% efficiency, and the second power supply must have a higher energy throughput to power the cards. Usually, these products cost an additional $300, but you may need high-efficiency power supplies that are certified Gold, Platinum or Titanium.
Focus on the memory
Another essential feature of the mining rig is its memory, as it directly influences performance. Depending on whether you’re a lover of Windows or Linux, there are many products available. Usually, you need about 8 GB of RAM for the rig running on Microsoft, but Linux works just best with only 4 GB of RAM.
Regardless, if you don’t know what operating system is best for mining, you should use what you’re used to already because Linux and Microsoft have different interfaces and requirements. Some miners prefer Linux because it’s cheaper, as Microsoft needs a license. At the same time, Linux is more stable and offers varied software solutions. Miners also stated that Microsoft might even hinder mining as it only supports limited mining solutions and cryptocurrencies.
Connect to the motherboard
The motherboard is also an indispensable part of the rig because it connects all other components. A motherboard includes multiple GPU slots you can choose and update when needed, so it’s what affects the efficiency and stability of the rig. At the same time, the motherboard is home to your CPUs, RAM and other storage devices, which require intensive computational power.
When choosing a motherboard, consider its efficiency, system stability, long-term scalability, and upgradeability. Yet, according to your needs and capabilities, there are various options that help save costs, build quality, and provide performance, so expect a motherboard to cost around $300.
Build the frame and the cooling
Since the rig is full of so many devices, you can imagine that it can heat things up, which can become a hazard. Building a mining rig at home allows you to construct the frame however you like, but it’s best to do it in a way that mitigates the heat since there will be six GPUs working continuously. You may not need to buy a brand-new frame, as many second-hand pieces are sturdy enough to support the rig.
At the same time, the cooling part will help better control the rig’s temperature. It would be best to pack the rig with four to six cooling fans, but this also depends on the environment where you place the rig and where you live.
So, is it worth it to build it at home?
As you can see, you must research thoroughly to find the best products, but you must also be prepared financially because these pieces can fluctuate in price. Some miners can set up a rig for about $3,000, but that’s only the upfront cost since you will need to pay for the electricity as well.
There are a few ways to optimize the home mining rig, such as purchasing more energy-efficient equipment, reducing the GPU voltage or overclocking the rig’s performance. Still, safety is more important.
Bottom line
As Bitcoin is volatile and mining changes every four years due to the halving event, miners must constantly find new ways of increasing their output. Considering that the mining rewards decreased, Bitcoin mining might have ended at some point, so it’s best to take advantage of current values and stats because Bitcoin mining is still profitable. That’s why you might want to build your own rig at home, which may be less expensive in the first place.
