$10,000 Crypto Mining Pc

smefin2121 · Oct 10, 2017

What GPU mining pc could I build for $10,000, and how much would it earn me.

WyomingKnott · Oct 12, 2017

Between the hardware cost and the electricity cost and the additional air conditioning, it would lose you money.

Karadjgne · Oct 12, 2017

$1500 pc with a gtx1060 gets @$0.70 a month. That's @$10 a year, or 150 years to pay for the pc. Even if the Rx580 got double the return, $20 a year, x4 gpus in a $5000 x2 pc's, it'd still take 62½ years to pay that $10,000 off.

Perspective...

Zerk2012 · Oct 12, 2017

You would be better off using a 80 buck 2 core CPU, 8gb of memory and 4 RX 570's, a single small SSD would work for the only drive 120gb if your using windows on it.
It's not like you can invest 10K in minning and make a living from it.

King Dranzer · Oct 12, 2017

Karadjgne :

If he is spending that much he will go for Vega 64 over any other card. And 13 of them in a single PC(using mining board) will give good $525 per month at present Ethereum rate which is $6,370 in a year. If the rate of Ethereum goes down then it will be a loss. Is it worth it don't know.

If he goes with RX570 or RX580 he can get two systems(each of 13 GPUs) instead of one system he can get two which will increase the requiered voltage but also give bit better results like around $600 per month and $7200 per year. But that will be huge power load.

g-unit1111 · Oct 12, 2017

King Dranzer :

But say you do make that much in a year. If you spend $10,000 on equipment and you only make back $6,370 you're still at a loss of -$3630. There's no way to possibly break even on that investment in the first year. Or even the second. Because in the second year, you would begin losing money due to the planned obsolescence of the GPUs and the deprecation in value of your original investment.

Karadjgne · Oct 12, 2017

And that's not including the $400 a month electric bill.

MrN1ce9uy · Oct 12, 2017

Karadjgne :

Ah yes. I'm glad I quit when I did. During the month of June I mined ~$700 worth of ETH with 7-8 GPUs on 2 rigs. Electricity for that month costed ~$380. The next month I was only projected to mine less than $500 worth of ETH, with a quickly downward trend in price and a rapidly increasing trend in difficulty. So I really don't see how it's profitable now.

USAFRet · Oct 12, 2017

Starting with $10,000, how to make money mining:

1. Build a PC for your use for $1,500. Gaming, office, whatever.

2. Invest $5,000 in the regular stock market.

3. Buy $3,500 worth of your favorite coin. Wait.

MrN1ce9uy · Oct 12, 2017

USAFRet :

I would agree. I don't watch the coin market as much as I used to when I was mining, but I notice Bitcoin (and other coins) have dropped and then risen several times in just a few months. Bitcoin is at a peak right now, so now isn't the time to buy. Wait til it drops down around $3,500 then maybe, MAYBE it will go back up.

*Always remember rule #1. Never invest more than you're willing to lose.

MrN1ce9uy · Oct 12, 2017

I just used this site to calculate how much I'd be making if mining with my 7-8 GPUs (I can't remember the hashrate for which, I had 7 and 8 at one point. https://www.cryptocompare.com/mining/calculator/eth?HashingPower=220&HashingUnit=MH%2Fs&PowerConsumption=0&CostPerkWh=0.2

I remember using the site back when I was mining, and if anything it would say more than what I would actually earn. According to it now I wouldn't even be making enough to cover my electric bill.

g-unit1111 · Oct 12, 2017

Karadjgne :

True! There is that factor.

King Dranzer · Oct 12, 2017

g-unit1111 :

That was including the electricity bill of $425. $600 per month is only profit. The total income per month is $1025.

Karadjgne · Oct 13, 2017

So the first year, Op might break even(ish). As time progresses, the return will be less. So there will be some profit in year #2. In year #3 that profit will shrink again. This is even if it's still viable to mine. Bright side will be there's going to be another mining operation before long, and that $10k rig will be good to go at the start, not already a year or so into it..

g-unit1111 · Oct 13, 2017

Karadjgne :

And don't forget equipment depreciation takes a lot out of it. You lose anywhere from 15% - 20% of the $10,000 you invest in the equipment each year it's in operation and that has a huge effect on your bottom line.

King Dranzer · Oct 13, 2017

Well check into Pascal mining. Its new with higher rates. Do some research.

Karadjgne · Oct 13, 2017

I don't think equipment depreciation plays a role, especially after you break even. Even selling everything at huge discounts on eBay, it'd still be profit, just not as much. And a 1yr old pc, even if stripped of all the mining gpus and just running a single card will still be respectable, if op actually bought good stuff. If he buys a bunch of junk, then he's not going to be selling it anyways.

King Dranzer · Oct 13, 2017

Karadjgne :

The only components worth selling in dedicated mining rig are GPUs and PSUs. CPU Motherboard RAM and Storage are not worth selling.

g-unit1111 · Oct 13, 2017

Karadjgne :

If you're trying to keep a business and maintain a profit, it does. But for just every day consumer use it's not something you really need to worry about.

MrN1ce9uy · Oct 13, 2017

Unless GPUs have become more efficient (higher hashrate to power consumption) than the RX 400/500 series were back in June, then from what I see the mining (ETH) will only net the cost of electricity. But like someone else mentioned, maybe other coins will profit more.

smefin2121 · Oct 13, 2017

WyomingKnott :

I now have 30 grand to spend, I have solar power and a small hydro setup as well as batteries for solar.

USAFRet · Oct 13, 2017

smefin2121 :

Mining nonsense via your PC is not what you want to be doing.
There are MUCH better things to do with an imaginary $30k.

King Dranzer · Oct 13, 2017

USAFRet :

Well he already spent that $30K on power generation equipment so he will probably not back down from spending $10K more on mining rig as he has been working on the setup for a long time(if not long time then he did spend a lot in very short time).

Solandri · Oct 15, 2017

g-unit1111 :

In this context, depreciation isn't an additional cost. You're paying the $10,000 for the system up-front - that is the cost. Depreciation is just how your mining company amortizes that cost for accounting purposes. i.e. If you plan to use this equipment for 5 years, the cost of the system isn't all applied to the first year, while the remaining 4 years you get the benefit of having the equipment but no costs. By depreciating it $2k/yr, your accounting books say each of the 5 years you pay $2k in costs, compared to whatever benefit the equipment brings you. (It can also matter for tax purposes - whether you can deduct the cost as a business expense all in the first year, or a little bit every year that the equipment is in use.

Since you've already accounted for the full purchase price, Karadjgne is correct. When you're done using it, anything you can get for it by selling it is a net gain.

Or put another way, the proper cost for this system is the sum of its depreciation over the years it's used. Or in other words, (purchase price) - (selling price). Since everyone is going with the $10k purchase price as its cost, that's the worst possible case (selling price of zero). And proper depreciation can only be a positive, not a negative compared to that worst-case scenario.

g-unit1111 · Oct 16, 2017

Solandri :

Yeah that's true - which is why it's important to keep track of it. Especially if you plan on profiting off it long term and want to keep up with the latest technology.

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