Table of Contents
Introduction
What is going on, miners? Welcome back to the Hobbyist Miner channel. As we kick off August, it’s time for us to discuss the profitability of our farm, our monthly earnings, and our projected profits for the entire year. In this article, we will go over the details of our rigs, our mining algorithms, and our power consumption, measured at the wall for a more accurate reading. Let’s break down our numbers and see where we stand for July 2021.
Overview of Mining Rigs and Algorithms
For a review of our setup, we have four mining rigs:
1. Colossus Rig:
This rig consists of 11 Sapphire Nitro RX 470s, one RX 570, and one HP 1200W power supply. All cards are BIOS modded with the Polaris one-click BIOS editor. The Colossus rig is mining Ravencoin.
2. Gambit Rig:
This rig has three GPUs (two XFX and one Sapphire Pulse RX 580), and an HP 750W power supply. The Gambit rig is mining Ethereum.
3. Pixie Rig:
The Pixie rig features six R9 380s, two R9 380Xs, and an HP 1200W power supply. This rig is mining Ethereum Classic.
4. Cyclops Rig:
This rig consists of six 1060 6GB cards, one 1080, one 3060, one 2060, and three 1080s. The Cyclops rig is mining both Ethereum and Ergo, with the 3060 dedicated to mining Ergo for diversification.
Power Consumption
To calculate power consumption accurately, we powered down each rig, plugged it into a separate PDU, and noted the readings on the actual AC monitor for its power usage when hashing. Here are the power consumption figures:
– Colossus Rig: 2,150W
– Gambit Rig: 480W
– Pixie Rig: 815W
– Cyclops Rig: 1,287W
July Profitability Breakdown
Now that we have our power consumption figures, let’s break down the profitability of each rig based on the algorithms they are mining.
1. Colossus Rig (Ravencoin):
With a hash rate of 169 MH/s and power consumption of 2,150W, this rig is estimated to bring in $19.65 in revenue per day, with $3.78 in electricity costs, for a profit of $15.87 per day. It is projected to make $476.10 per month, or $5,792.55 per year.
2. Gambit Rig (Ethereum):
This rig makes $6.76 in revenue per day, minus $0.84 in electricity costs, for a profit of $5.92 per day. The projected monthly earnings are $177.60, while the annual profit is estimated at $2,160.80.
3. Pixie Rig (Ethereum Classic):
On Ethereum Classic, the Pixie Rig makes $5.28 in revenue per day, with $1.43 in electricity costs, netting $3.85 in daily profits. The monthly earnings are estimated at $115.50, with an annual profit of $1,405.25.
4. Cyclops Rig (Ethereum and Ergo):
This rig brings in $17.85 in revenue per day from mining Ethereum, with $5.05 in electricity costs, netting a daily profit of $15.75. For mining Ergo, it makes $1.59 in daily revenue, with $0.21 in electricity costs, for a profit of $1.38 per day. The combined monthly earnings are $518.10, while the annual profit is estimated at $6,252.45.
Yearly Profit Projections
Based on these monthly earnings for July, the rigs are projected to bring in a combined profit of $15,611.05 for the entire year. This is an increase from our earlier projections of $14,450.40 in May and $10,317.60 in June. However, keep in mind that those months’ figures were based on power consumption estimates from HiveOS, while July’s figures are based on more accurate readings at the wall.
In conclusion, despite some fluctuations in the cryptocurrency market and changing power consumption estimates, our rigs have remained reasonably profitable. By accurately measuring power consumption and adjusting algorithms, mining remains an exciting and potentially lucrative endeavor.
yo brother i forget your real name and but where your from again? . im guessing not from canadeia lol but what i wanted to ask u was , what is your electrical rate down there? im just interested, it was not in the spread sheet..if u dont mind me asking. I'am Red panda's neighbor . lol – shhhhh dont tell anyone… great video's keep it up my friend 🙂
Your gpu using 6 pin power or 8 pin power?? What name board connect tu hp psu?
Would you recommend HiveOS over Windows?. As Sebs for instance, is a Windows guy, you know 😄
Your system has crashed
Currently on 838 mh/s no electricity costs so earning 1938$ this month if things stay the same
Thank you so much for your videos it’s really helps
But I need help with my setups
I have 3080 ti
3060
And 6700xt
I need help how to make them work together and how I get the most hash rate
I only can get the 3080ti and 3060 together but only get 65 and 21
Thank you so much
Is that the new camera? Looks good man!
Started last month at 115MH. Starting this month at 230MH @ 700 W using hiveos estimates. My first 6 card rig is almost finished.
Why don’t you put your Collossus rig back on Ergo? I have the exact same rig running on it and I think for the Sapphire RX470s it’s the best. Especially with the power of Raven being so high? Profit margins gonna be higher I presume?
SKYCYBERHACK was not the one I’m routine for before and to my surprise they just did the unthinkable and I was amazed with all they do for me while I google they pop up for me and everything is going smoothly for me thanks.
Is it profitable to mine still?
Thanks again – I used your code for GPU risers last week. Went with the 6 capacitators, as 8 is overkill
The only correct thing about your projection is the cost of electricity. Everything else being projected is speculative and pointless.
my regular 3060 mines ERGO all day long no hashrate dips. 16:00
thats way too many PSUs for that first rig… nearly 4000w for a 2.2kw rig.
hey there is a oc setting on hive forum for ergo that will give you 110 mh, i did it with mine 3060 lhr, you are using settings that makes card think you are mining eth, thats why it lowers hashrate to 78 mh
rig 1 eth, 9 gpu, 280mh, hiveos est 677w, 20 a day.
rig 2 ergo, 8 gpu, 880mh, hiveos est 758w, 22 a day
rig 3 ergo, 4 gpu, 268mh, hiveos est 355w (at the wall 575w), 6 a day have 4 more 4g polaris cards on the way to finsh this rig.
I have 3 vega 64 flashed to 56 in the 2nd rig doing 185mh each at 120-130w. the vega cards are monsters on ergo if you can get them cheap. my solar currently is enough to cover the power. just started mining last month, not going to expand till i recover some of my investment, 5680 so far in parts and gpus
🚀🌑🙌
thanks for making this. very helpful.
just completed my first month of mining on the weekend. I added another GPU near the end of the month, but i made just over 300.00 CAD! based on my bill it seems to be roughly 1.00 a day in added electricity costs. I have 2 RX580s, 1-3060 running 470.05, and my favorite, a Zotac 3070 HaloBlack.
i need to consolidate the rigs as they are actually running inside desktop machines 😐 just trying to figure out the best way to go about it.
Nice vid how do you install that meter? Thanks
Awesome!!!
The Cyclops rig should have the white card at the top centre. 🙂
Great video love the break down
My current rig consists of a 480 8gb, 570 4gb, 580 8gb, 1070, 2060 and a 6900xt. Just started the rig this weekend and I'm addicted.
The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.”
Doin 648 Mh across 3 rigs. Pulling 1570 watts doin 50 USD a day 10 USD electrical. Yearly profit this date is 14.600 USD. Mining ETH on Nice Hash.
Thank you. You are very informative to watch regarding these topics. I am always researching profitibilities of cards/rigs and just cannot commit because of high prices nowadays.
do you use this doc for taxes or is it just a good to know?
Love your stuff thanks! What do you put under the motherboard before placing it on the rack? I am just about to set up mine, but am not sure what to use! Thanks
Looking good brother!
Awesome spread sheet, I’m upto £86 with 6 card rig a month on electric cost. Just started to reinvest in cards. Strategy is cover Electric out of my pocket hodl half and reinvest half aiming for 2 full rigs
This is great information – My question is why do miners not use UPS 's (An uninterruptible power supply) to regulate the amount of electricity going into the rigs? Is it not more advantageous to make sure each of the rigs are pulling the proper constant power wattage? I have not seen anyone use it and was wondering why you dont either since you have a measuring device for the power each pulls/