Make money with computer power: Best Coins | ROI |How Mining Farms works

Are you asking yourself, How to make money it computer power or Is it possible to make money on PC mining in 2021? We have this and a lot more on how you can make money mining from your PC from crypto currency.-

What is a mining farm and how does it work?

The very concept of “mining farm” arose after the complexity of mining cryptocurrencies became many times greater than the capacity of one, even a top-end PC, and the barrier could only be overcome by combining the computing power of several devices. Unlike a standard PC, the farm’s capacity is not spent on maintaining the system and background applications, but is entirely focused on mining, which allows you to make it as efficient as possible.

A mining farm is an installation, all the computing power of which is aimed at selecting the correct hash code for a block of transactions, for finding which in the network there is a reward in the form of new crypto coins. Mining farms can be assembled from various equipment: video cards, central processors, hard drives, special ASIC miners. A mining farm on processors has long been out of date, and ASIC miners are quite expensive.

In the classical sense, a mining farm is built on video cards, in simple words we can say that these are video cards combined with each other for the production of cryptocurrency.

A ready-made mining farm for beginners is comparable to a home-made computer with a narrow focus. It must be installed in a non-residential area, since the farm emits a strong hum during operation. It also requires optimal cooling and a constant electrical connection.

How to start mining on your home computer in 2021

If you are a beginner and do not know how to approach cryptocurrency mining, what to do and, in general, why you need it, then mining at home is a great way to find out all this.

For those who are wondering where to start mining:

• choose a cryptocurrency;
• open a wallet;
• choose a service;
• Download program;
• start mining currency.

Since it will not be possible to mine cryptocurrency alone without large capacities, home miners are often combined into pools. These are several machines that join forces to find the required block. After this block is found, the reward is distributed according to the capacity.

For those who do not understand anything about mining, there is the Kryptex service. It allows you to download the program and it will extract cryptocurrency in the background and exchange it at the current rate. On a powerful PC, you can earn up to 4 thousand rubles a month.

It makes sense to mine on a home computer only if you don’t understand it at all. For beginners, this will be an opportunity to explore the kitchen of cryptocurrency mining first-hand.

What does a mining farm consist of?

For full-fledged work, in addition to computing devices, the mining farm is equipped with related equipment. The finished mining farm consists of:

1. Motherboard. It is important that the motherboard has enough connectors for connecting video cards.
2. HDD. Hard drives with a capacity of 100 to 160 GB are suitable. A smaller volume will not allow loading the required wallets.
3. Video cards. The power of the farm depends on the choice of video cards. It is enough to use 4 powerful video cards or more cards with less power.
4. RAM. The efficiency of production does not depend on its speed and volume, but its parameters must fully cover the operation of the system.
5. Power Supply. The required unit power is calculated from the consumption of the farm components. Often, one block may not be enough, so they buy several and synchronize them with each other.
6. Adapters. Adapters are used to connect video cards. It is recommended to use Razer products because of their high bandwidth.
7. Start button. Serves for easy switching on, connects to the Power connector on the motherboard.
8. Cooling coolers. If the cooling of GPU coolers is not enough, then it is recommended to install several additional ones to prevent overheating and rapid equipment failure.

Additionally, a monitor emulator and WatchDog can be connected to the farm. These are optional parameters, but they make working with the farm much easier. In particular, the emulator makes it easier to launch, and WatchDog automatically reboots the system if it does not receive a response from the program.

All components must be enclosed in a common structure on the frame. It is recommended to make it from wood or aluminum. Wood is low cost and easy to handle, aluminum is durable and cools quickly. The average farm is about 70 in length and half a meter in width and height. An industrial mining farm can be several meters long.

An example of a budget farm

An inexpensive mining farm can be assembled from the following components:

• GA-Z97X-Gaming motherboard 3.
• Seasonic 1 200 W power supply.
• Three PCIExpress slots with a RadeonRX 480 video card with a hash rate of 30 Mhash / sec.
• Risers (sold at a bargain price on risers.ru);
• Winchester SSD Now V300 (120 GB).
• RAM Kingston 4 GB.

Installing the OS. As mentioned above, Windows 10 is suitable for mining. But since an economy option is being considered, you can install a free Ubuntu, created specifically for Ethereum mining.

Despite the general decrease in profitability and an increase in the payback period of mining, this budget option can bring up to one hundred percent per annum at a cost of $ 2 – 2.7. In addition to bitcoina, the production of which is effective today only on industrial farms, and provided that inexpensive electricity is used, there are many young promising currencies that can bring good dividends. And then they can be exchanged for bitcoins or ethers, no less reliable for long-term storage.

How much does a mining farm cost?

The cost of a mining farm consists of the cost of all its components. First of all, you should focus on the purchase of video cards. They make up the main cost of the farm and the related equipment is selected depending on their requirements. The main thing is that they have good cooling and hashrate-to-cost ratio, as well as not too energy-intensive.

The cost of related components should not exceed 10-15% of the cost of the farm. The motherboard, hard drive, and processor can be quite inexpensive. The main thing is that there is enough installation space for wallets and software, as well as that they can pull the work of programs without freezing.

The power supply unit is selected according to the requirements of the equipment. It is recommended to purchase units with a power reserve of 20-30%. The approximate cost of components is $ 300:

1. motherboard: $ 100;
2. processor: $ 50;
3. RAM: $ 50;
4. power supply unit: $ 50;
5. adapter: $ 4.5 per piece;
6. WatchDog: 25$;
7. body materials: $ 10.

The cost of video cards varies from $ 250 to $ 1000, depending on the power. That is, the cheapest mining farm will cost about $ 1300. This is taking into account the fact that it will be a mining farm for 4 low / medium power video cards.

Alternative ways

You need to understand that the process of crypto mining is not limited to buying ASICs and video cards. There are many alternative ways to mine e-cash. They are unlikely to be compared in terms of profitability, and in a number of other advantages, but nevertheless, they are worthy of being discussed in the article. Let’s highlight the two most popular methods:

• merging into mining pools;
• cloud mining.

Mining pool

Let’s start with the first one. This is a way for those who want to mine, but do not want to invest in buying a farm. Also, this method is suitable for farm owners who would like to increase the computing power and overall performance of their equipment, which in turn will help increase profits.

Remember the parable of the broom? One twig is easy to break, but a tied bundle is difficult. Pools are a kind of “bundle” where, by combining efforts, miners increase their total potential. This allows us to be more competitive in comparison with such giants as Chinese crypto farms (video). The synergy of joint mining is a controversial issue, but, nevertheless, people are investing money in it.

Cloud capacity rental

With cloud mining, everything is more complicated, because the “growing of bitcoins” or any other currency will take into account many factors that cannot be controlled.

Such mining implies that you rent power from large companies in the amount you need and mine cryptocurrency on them. In this case, your income must be higher than the rental rate.

We may face another big problem. It is in cloud mining that the largest number of scammers. They “PR” their projects, create excitement, attract miners, and then close projects, leaving people with nothing. Therefore, in cloud mining, it is very important to choose the right project.

In addition, the following disadvantages of this method should be taken into account:

1. The equipment is not your property, that is, in the event of any technical problems, you cannot influence this in any way.
2. Lack of control of profitability (the tenant always receives only the final invoice and profit, while the entire calculation is carried out by the landlord).
3. Inability to dispose of resources. Simply put, you cannot sell a currency at its peak and make more profit.
4. Higher electricity tariffs (in the country where the capacity is located, the electricity bill may be much higher than in the country where you are located).
5. Typically a longer return on investment.
6. Other risks associated with the remoteness of the lessor and the local legislation of the lessor.

Of the advantages of such mining, it is worth noting:

1. Accessibility: Anyone can start. To do this, you do not need to install a truss, worry about noise, temperature and independently carry out efficiency calculations.
2. In case of any breakdowns, all expenses fall on the owner of the equipment. You, as a renter, do not accept any responsibility.
3. 24/7 mining.

This is a truly passive type of mining, which, even if it does not bring large profits, will allow you to get some profit even without any in-depth technical knowledge. This option is good for beginners, it allows a beginner miner to master a new area and gain experience.

Which is better – a turnkey ready-made mining farm or self-assembly?

With the growing demand for cryptocurrency mining, companies began to offer the purchase of a ready-made mining farm. The advantages of a turnkey farm include

1. significant time savings on the purchase of equipment, study of technical characteristics and assembly;
2. if you have any questions about the work, you can contact the technical support of the manufacturer;
3. high productivity due to professional selection of equipment and assembly.

Naturally, such farms are more expensive than the cost of equipment, and you can rely only on the reputation and decency of the manufacturer in the configuration and quality of equipment.

The advantages of self-assembly are:

1. lower cost due to the elimination of labor costs;
2. assembly according to personal wishes;
3. confidence in the quality of equipment;
4. gaining new experience.

Assembling a mining farm is not an easy task that requires a detailed study of the technical characteristics of the equipment. But on the other hand, every miner is obliged to know all the intricacies of the mining process. In addition, during mining, many issues with equipment can arise and it is much easier to deal with them initially.

Cryptographic task and algorithms in mining

To find out how a mining farm “creates” new blocks, let’s dive into how it works. Let’s talk about cryptographic tasks and computing power. This is important for understanding which farm is needed for different currencies, as well as in order to learn about the current counterparts of farms for cryptocurrencies. The very process of mining electronic cash occurs by calculating a cryptographic problem.

It is important to note that as computing power grows, so does the complexity of creating new blocks. This means that it is very difficult to potentially monopolize this area.

Although there is another negative side for “home miners”: with increasing complexity, the payback period for equipment (video cards or ASICs) is constantly increasing, and income, in turn, is decreasing.

All this led to the fact that the profitability of mining in 2021 remained only for specialized farms, while mining on a home PC, taking into account operating costs (electricity, wear of “hardware”, etc.), at best, will come out in 0, but rather it will even be unprofitable.

A cryptographic problem is solved according to a specific algorithm. Consider the SHA-256 algorithm, on which not only bitcoin mining is based and built, but also most other cryptocurrencies. This algorithm is a solution developed by the US NSA (US National Security Agency). On the SHA-256 algorithm, the cryptographic problem is solved on the CPU, it is also the processor, or on the GPU, it is also the graphics processor – a video card or several video cards, which includes a mining farm.

It’s fair to say that SHA-256 is used for more than just mining. This algorithm is used in many security protocols, for example, SSL, PGP, which are used on most secure sites on the Internet. In specialized ASICs, which were originally created for mining, this algorithm is also implemented.

There are other, more complex and advanced algorithms (Scrypt, Scrypt-Jane, etc.). Basically, later algorithms are designed to make hardware computing more efficient, since against their background the original SHA-256 looks simpler. It is worth considering that Scrypt requires more RAM, therefore, to work with this algorithm on a cryptocurrency mining farm, such a feature must be taken into account.

How to assemble a mining farm with your own hands?

Assembling a mining farm begins with making a frame. The frame must provide good air circulation. It should be made in the form of a stand, and it is recommended to replace the usual shelves with slats for better air circulation.
The lower floor is reserved for the motherboard and power supplies, the upper floor is for video cards. The top floor can also be replaced with a side bar for further mounting video cards. The dimensions of the frame must be pre-selected for the purchased equipment and a drawing of the future farm must be developed.

A bitcoin farm at home is not the best solution. In the process of working and cooling, farms create a lot of hum. It is optimal if the mining farm is located in a garage or on a balcony.

A home mining farm should be additionally equipped with cooling. Often, water-cooled mining farms are going to save electricity.

Motherboard

It is advisable to install the motherboard in the center of the lower floor, since all components will be connected to it. Each motherboard has holes for fixing it. With the help of screws, it must be fixed on the frame; several holes are allowed to be skipped. The main thing is that the corners are fixed and the fasteners are not too tight.

RAM (random access memory) should be installed in the corresponding slot on the motherboard memory, after waiting for a characteristic click. The hard drive connects to the motherboard in the same way, using the supplied cable. The hard drive can be placed in any free space.

For effective mining in the motherboard BIOS, it is necessary to disable all unnecessary functions, for example, sound, unnecessary ports. In order for the farm to quickly boot after an overload without checking for errors, it is necessary to switch the Standart CMOS Features from Halt on mode to No Errors.

In order for the farm to automatically start after power up, the AC Back function must be enabled.

CPU

The processor also needs to be installed in the corresponding socket on the motherboard. This requires

1. open the slot panel and remove the plastic cover;
2. place the processor in the slot socket;
3. cover the processor with the slot fixing panel;
4. a cooler is installed on top of the processor; connectors are also provided for it;
5. the cooler’s power cable is connected to a connector on the motherboard.

Video cards

Video cards can be attached directly to the motherboard, but this configuration is not suitable for a mining farm, since during operation the temperature of video cards can reach 120 degrees Celsius, and a close location will not provide sufficient cooling. For remote connection, Razer adapters are used, which are attached to the side panel in the corresponding slot. The raisers are universal and can be connected to PCI-E x16 and PCI-E x1, their main difference is in the power and connection wires. The power cord must match the empty slots in the power supply. Select only raisers with a USB cable connection. The optimal length is considered to be a cable of 60 cm.

Each video card is equipped with a mount, with which it will be attached to the frame of the truss. The distance between the GPUs should be at least 5-7 cm.

Installation of video cards takes place in accordance with the following stages:

1. The raiser should be fixed to the side panel of the video card by pressing it until it clicks. Pay attention to the location of the keys. The riser can enter the PCI-E x16 slot from both sides, but incorrect connection is fraught with consequences.
2. The video card is fixed on the truss frame panel with a screw.
3. The next video card is mounted in the same way at a distance of at least 5 cm from the previous one.
4. When all video cards are fixed to the panel, they are gradually daisy-chained to the power supply.
5. Next, the video cards should be connected to the motherboard. Since the adapter is used, the connection is carried out using its wire.

Each draws about 80 watts. The calculation of the power supply unit should include these indicators.

Power supplies

The power supply is mounted on the base of the frame and connected to the motherboard in the corresponding connectors of the main and additional power supply. Next, the power supply is connected to the processor and hard drive in the corresponding connectors. If multiple synchronized power supplies are used, the main unit supplies power to the motherboard, hard drive, and multiple video cards. The rest of the video cards are connected to the slave unit.

To synchronize the blocks, it uses a special connection via the add2psu relay. The relay connects to a Molex master unit and a 24 pin slave unit. It is also important to properly distribute the load. Overvoltage should not occur on the wires, this is fraught with consequences.

It is also recommended to physically fix the power supplies on the mining farm case.

Choosing a program and pool for mining

When the equipment is fully assembled and all drivers are updated, you can proceed to direct extraction. To do this, you need a special miner program connected to the pool. The choice of program and pool depends on the type of coin mined.

For AMD GPUs, the Claymore Nvidia miner CUDA shows good performance. Next, you should enter the address of the pool, select the coin to be mined and start mining. The wallet where the coins will be received is indicated on the pool itself during collective mining, or changed in the miner’s configuration file.

It is also recommended to install additional programs for overclocking video cards and remote management of the farm, allowing you to track how the mining farm is working.

How much does a mining farm bring and how to calculate the payback?

Mining farm earnings depend on a number of parameters:

1. the cost and complexity of the cryptocurrency being mined;
2. the total hash rate of the farm;
3. power consumption W / hour and cost.

Accordingly, the calculations of how much you can earn are carried out individually, taking into account the cost of electricity in the region.

For calculations, you can use online mining profitability calculators, which take into account the current network complexity and work algorithm. By specifying the parameters of power and the cost of electricity, the service will automatically display the net profit from the operation of the mining farm per day, month, year.

To calculate the payback yourself, you need to withdraw the average earnings from mining per day. To do this, the total number of mined coins must be multiplied by the cryptocurrency rate, subtract the money spent on paying for electricity, and divide the amount received by the number of days worked. Next, we divide the cost of the equipment by the amount received and we get the number of days that the farm must work in order to fully pay off.

Dear capital

Muscovite Alexei Ivanov thought about mining as a source of income in April 2021, when he was choosing components for a computer with a friend. “I was surprised to note that video cards had disappeared from store shelves,” recalls Alexey. – We realized that people are buying hardware to mine. A logical question arose: is it possible to make money on this? ” Ivanov, an IT specialist by training, a former employee of the Russian Venture Company and co-owner of office equipment maintenance firms, decided to understand the technology.

Alexey Ivanov (Photo: Oleg Yakovlev / RBC)

Together with partners, he assembled several farms, which he installed in the office of his company. It turned out that it is much more convenient than home options. “Keeping a farm at home is risky: you simply cannot turn on the washing machine or the kettle – it will knock out the plugs. People were as sophisticated as they could: they tried to strengthen the wiring and rented separate apartments to put farms there, ”says Ivanov. He decided to take up the placement of mining farms professionally.

The first step was to assess the demand: he created a website on which he posted an advertisement for the services of a mining hotel (Ivanov claims that he was the first to come up with this phrase). In a few days, about ten calls were received, and he decided to act. As a test site, together with five partners (friends and colleagues), I rented an adjacent office with an area of ​​40 sq. m, summed up a separate power line, installed ventilation, purchased iron racks, temperature and humidity sensors. All this cost 300 thousand rubles.

The room was filled up in a week, and Ivanov rented another 200 sq. m of office space in the same business center (at a rate of 1–1.2 thousand rubles per 1 sq. m). Now the SberBit mining hotel occupies 300 sq. m. Ivanov offers clients an all-inclusive package – a guarded site, payment for the Internet, electricity and administrator’s work. The placement of each device for mining will cost the client 5 thousand rubles. when consuming up to 1 kWh of energy, 6 thousand rubles. at a consumption of 1–1.5 kWh, and 8 thousand rubles. at a consumption of 1.5–2 kWh. Another 2.5 thousand rubles. you will have to pay to install the farm

In the first month, Ivanov managed to attract about 20 customers (mainly through an ad on Avito and contextual advertising on Google). The hotel currently has 300 mining farms. For four months, the company’s revenue from this activity amounted to 2 million rubles, net profit – 200 thousand rubles. These are low figures, Ivanov admits, office premises do not have sufficient electrical capacities and expensive rentals, production premises with large capacities are needed.

Cloud mining or farm – what to choose?

Cloud mining is an alternative method of mining cryptocurrency to creating a farm. The bottom line is that the user can rent the power of a remote farm online for a certain period. Large farms can be located in regions with cheap electricity and optimal climates. The cooperation is reinforced by the purchase of a service contract.

Which option is better, everyone decides for himself individually. For newcomers to the cryptocurrency market, it is easier to transfer mining to the “cloud”, since this eliminates the risks of going into the red if the farm is assembled or assembled incorrectly. The main thing is to choose a reliable service with a proven reputation and carefully study the reviews. For confident PC users, building and configuring your own farm will not be a problem.

Cloud mining is the optimal format for mining cryptocurrency

For the vast majority of users, cloud mining remains the best option for mining bitcoin in 2021, due to the flexibility of contracts and more favorable working conditions than mining on your own hardware.

Cloud mining is a cryptocurrency earning model that creates groups (mining pools) with one goal: to generate more income, in comparison with conventional distributed mining, due to equipment management by a contractor who solves all issues related to technical and software components.

TOP-3 reliable cloud mining services according to Mining-Cryptocurrency.ru:

The criteria by which the rating is set in our rating:

• Profitability and profitability – we calculate the payback period, clarify the reality of mining.
• Prices and commissions – we take into account the validity of tariff plans, compare with competitors.
• Deposit / withdrawal, discounts, reliability – we analyze reviews, test the correctness of charges and withdrawals.
• Convenience of the platform and site – we evaluate the functionality, errors and failures when working with the service.
• The peculiarities of the company are unique services and useful services, the period of work in the market.
• Final grade – the average number of points for all indicators, determines the place in the rating.

The full rating of cloud mining services can be found here.

Possible risks and relevance in 2021

The cryptocurrency industry is based on mining. It is this mining method that is considered the most stable and minimally risky, but still, miners are constantly faced with a number of difficulties and risks.

The main risk for the miner is equipment failure. This situation can arise both from improper assembly and power distribution, and from outside circumstances. In addition, wear is inherent in any technique. With each month of operation, the power of the mining farm will gradually decrease. Some miners even recommend setting aside 10-15% of income for farm upgrades.

The second challenge is the ever increasing complexity of the network. For example, the complexity of the Bitcoin network practically does not allow it to be mined at home. Even the most powerful bitcoin home farm cannot compete with large data centers. Perhaps soon the world will even forget what a bitcoin farm is, and all transactions on the network will be checked by large communication nodes.

The largest mining farm in the world is located in China, as this region has all the necessary conditions for mining, including cheap electricity. The mining farm in China is a three-story building with more than 3000 ASIC miners and produces more than 750 BTC every month.

The largest mining farm in Russia is hidden from outsiders. Neither the location nor the name of the owner is known. But it is reliably known that it is not much less in volume than a Chinese mining farm.

Most cryptocurrencies have a mechanism to prevent inflation, according to which the reward for mining a block is halved after a certain period of time. So, the initial reward for the mined block in Bitcoin was 50 BTC, now it is 12.5 BTC, and in 2021 it will be 6.25 BTC.

Miners are not immune to a sharp drop in value. It is necessary to constantly monitor the rate of cryptocurrencies, since a drop in the rate can make mining unprofitable.

If we talk about relevance, then mining Bitcoins on a home mining farm is unprofitable due to the high complexity of the network. But altcoin mining shows a fairly good profitability.

Current business plan for 2021:

1. purchase expensive equipment and mine popular high-value cryptocurrencies, for example, Bitcoin, Ethereum.
2. the acquisition of a budget mining farm from inexpensive and not powerful equipment, and the ability to mine the most profitable cryptocurrencies for mining with low cost and network complexity, and then exchange them for top coins.

Why you don’t need to mine on laptops

Now a little about laptop mining. In 2010-2011, it was possible to mine cryptocurrency on almost everything. Probably, somewhere there would be craftsmen who could make a farm out of toasters. But now everything has changed a lot. There are a lot of miners, the algorithms have become more complicated, and now, in order to mine 1 bitcoin per day, you need a computer of crazy power.

It is not profitable to mine on a laptop. From the word at all. Especially in Russia. With the jump in the dollar, technology has become very expensive indeed. An average laptop, in which a video card will have at least 2GB of memory, now costs at least 50,000 rubles.

At the same time, the same GTX 1060 will cost from 13 to 20 thousand. And it has 3GB of memory, and other characteristics are noticeably higher. Even a PC will cost less: 30 thousand rubles, against 50.

It is precisely because of the high cost of equipment and complete inability to mine that laptops are now simply useless for mining cryptocurrency. And if you consider that even powerful PCs cannot mine expensive cryptocurrencies, then laptops for mining cryptocurrencies have completely died.

findings

On the one hand, mining seems to be quite unprofitable: the cost of equipment, electricity, an increase in the complexity of the network, instability of the exchange rate, etc. But in practice, a mining farm with a well-thought-out earning strategy still shows good performance.

Before making mining your main source of income, you should carefully weigh the pros and cons. It stands for stability and minimal time expenditures, and against significant capital investments and a constant increase in the complexity of the network.

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What cryptocurrencies are popular

Let’s take a quick look at the most important currencies that are being mined today. It is important to understand that with the growth of excitement, more and more new cryptocurrencies will appear, but most of them are unlikely to reach the level of Bitcoin or ether. This is necessary in order to correctly prioritize, calculate the profitability and payback period of a mining farm.

Let’s start with the basics. It is quite obvious that the most massive and popular currency is bitcoin. It was it that was recognized as the official virtual currency, which can be calculated at the level of ordinary money or exchanged for any existing “physical” currency.

The following types of currencies are also quoted and in demand:

• Ethereum or ether;
• Litecoin;
• Peercoin;
• Namecoin;
• Currency;
• Zcash;
• Dash.

Most currencies use the SHA-256 algorithm, although Peercoin uses Scrypt, Monero uses CryptoNote, and Zcash uses Equihash.

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