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Crypto Mining | How to setup mining rig | Is mining Profitable

How to setup Crypto mining rig

In simple words, crypto mining is like solving mathematical equations -just really fast. That is why you need massive computational power to solve these mathematical queries quickly and earn as much profit as you can.

When China kicked out all its miners, more than half the computing power in the crypto network went dark. Fewer people and less computing power meant that it was taking longer to verify transactions and mint new bitcoin. So there is huge potential in this idea to generate profit.

 

To start mining you need to go thru these steps-

     1.     Find the software for mining

     2.    Setup the mining rig

     3.    And last calculate your final profit.


Find the best software for mining crypto

Best software for mining crypto

There are many crypto mining software but all you need is a free crypto miner software that can help you monitor and control your equipment’s crypto mining.

Bitcoin or cryptocurrency mining software is used to generate new cryptocurrency and introduce components to an existing blockchain. The mining party takes the new cryptocurrency that is mined after validation as a reward for adding to the Blockchain.

Bitcoin mining software uses computer’s graphics processing unit (GPU) to facilitate the discovery of blocks.

Site for mining

There are many mining software available some of them are:

1.  Kryptex miner

2.  Cudo miner

3.  Be mine

4.  Multiminers

5.  Ecos

6.  Easy miner

7.  Awesome miner

You can choose any of the Free mining software, these are all very user friendly and easy to setup.


Setup the Mining Rig

Setup of crypto mining rig

A ‘rig’ isn’t as scary as it sounds. It can be any everyday computer, made up of a CPU, motherboard, RAM and storage. The only difference is the graphics processing unit (GPU) or the ‘video card’.

A computer is not sufficient for mining; GPU is the unit that powers all the game of mining. GPU have power of calculation of heavy computational problems, which required in mining.

Pooling many machines together to increase compute power improves the chance of success. Running a single machine no matter how powerful, has a low chance of yielding crypto. These all machines are working under same user.

How does a mining rig work?

A mining rig works by using the mining software on a miner to hook the mining hardware to a given mining pool.

The mining rig points the rig’s hash rate at the pool before participating in the process of securing and completing transactions on the network.

You get rewarded when your rig helps the pool add a block to the blockchain.

Different types of mining rigs:

 

1 CPU mining

 

This is the process of mining crypto using a CPU processor  to perform the computational algorithms to solve blocks. However, it is no longer widely used because it is the slowest form of mining and it is not profitable.

2 GPU mining

GPU mining rig uses the graphics card to complete the 

mining process in a network. It is used more widely for 

crypto mining then CPU.

Consider These things while building a mining rig?

 1.  Hash rate: Higher the hash rate, Higher the profit.

 2.  Energy Consumption: Crypto mining consumes high amount of power.

 3.  Hardware price: The cost of hardware to be proportional to the profit.


Setup the crypto mining rig:

How to build a mining rig may appear a tough task at first but once you get everything you need, you will find it much easier than you initially thought.

Very first thing is to assemble everything you will need. It is simply connecting all your GPU’s with motherboard. And setup these all units in a frame.


Calculate your Profit

To calculate the final profit you just have to enter the total hash rate of your GPU’s and electricity cost in your area. Final profit will be appear automatically. This is available on all the software mentioned above.

There is a basic thumb rule of profit is you will get your total investment in next 6-7 month, Then you are earning profit. Best way to setup profitable rig is just start with little investment like 1000- 2000 $ and then increase rig size in every next month by using previous month’s profit.

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