$10,000 Crypto Mining Pc

[smefin2121]

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

 

[WyomingKnott]

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

 

[Karadjgne]

$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]

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]

$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...

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]

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.

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]

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

 

[MrN1ce9uy]

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

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]

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]

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.

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]

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]

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

True! There is that factor.

 

[King Dranzer]

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

True! There is that factor.

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

 

[Karadjgne]

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]

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..

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]

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

 

[Karadjgne]

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]

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.

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

 

[g-unit1111]

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.

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]

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]

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

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

 

[USAFRet]

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

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

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]

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

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

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

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]

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.

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.

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]

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.

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.