The KraKen Triple miner is my latest build where I try to get the most out of the mining rig by using a more expensive CPU i7 7700 to mine Electroneum ETN or Monero XMR.
The KraKen Triple miner is my most ambitious mining rig yet which uses 8 GPUs as well as a high end CPU I& 7700 to mine Electroneum. At the time of the build GPUs were really expensive and hard to get. But since the video I have been able to get enough cash together to complete the whole rig. I will do an update to this rig in the coming days.
The big challenge which rigs this size is knowing exactly what size power supply size to buy.
In this video I used the AeroCool 850 and 750 watt power supply which wasn’t enough to power a full 8 set of graphics cards. But it got me started. In hindsight I probably should have gone for the 1600 watt EVGA power supply. However the prices of this power supply are massive so I tired to go cheaper. In the end the AeroCool 850 power supply failed on me so I took it back and got the 1200 watt Thermaltake Power supply.
Once the power supply’s were in it ran pretty well. Currently I have 7 x RX 570 cards and 1 x GTX 1070 card in the rig. And getting around 210 Mh/s of ETH mining and around 300 h/s of ETN mining. In the end I got rid of LBC Library mining as the coin had very low value and the power consumption goes up with the extra mining. I might move back to an Ethereum ETH, Decred DCR mining shortly once to market turns around.
This setup was and is very challenging. For newer miners I suggested starting with one card mining rig and then move to a 6 x GPU mining rig. Actually I think the best solution is 6 x mining rig and these will be the ones that I build in the future.
In this video I talk about Cryptocurrency Wallets and Exchanges. I use the website www.cryptocompare.com because I find it has allot of really good info on it if you are looking to find out more info on Cryptocurrency Wallets and Exchanges.
Once you find the Wallets menu on the site have a look through at the different types of wallets you can find.
The ones I talk about and use is Exodus.
The good thing about Exodus is that is supports a wide range of Cryptos. Bitcoin Ethereum Litecoin and other.
These wallets allow you to send and receive directly from your Computer. I use this wallet on my Windows computer. Also the wallet has a backup feature which is really cool.
Down side with the Exodus wallet is that it only works on one computer at once.
The tabs across the top of the Cyrptocompare website which allows you to filter the types of wallets. So for example if you wanted a wallet that was highly secure you would click the Secure tab.
Bitfinex exchange is the next thing I talk about. Once you have mined Cryptocurrency the next thing you can do with it is trade it on an Exchange. In this video I use Bitfinex as an example, see the picture below.
This is a good way to make extra coins but it also requires allot of patience. Which is something I struggle with! Also the other really good thing about exchanges is that you can trade your mined Crypto for different types of alt coins. Let say you have a good feeling about EOS then you would be able to Trade your mined earnings for the coin EOS.
So I show you how to setup your account and deposit your first coins into Bitfinex. I use it to mine my coins directly to the exchange saves me allot of hassle with gas fees from the myetherwallet wallet.
Well thanks for watching and reading guys I hope this one helps you out.
In this video I got over CPU mining and I give examples of this by showing a old HP z800 Xeon computer that I was given for FREE. Actually I was given two of these computers. How did I get that? Well I asked for it, see in Australia allot of people are moving away from the older desktop style computers and moving towards laptops and mobile computing. So allot of these old boxed just get dumped in the street from time to time.
In this video I use this computer as a example of how you can use them for CPU mining. Something to be aware of is this would only be a great option for people who have access to free or almost free power. The reason for this is that this model shown is actually not very power efficient so just be aware that you might actually spend more money than you make on power costs. And actually I only ever use this computer for video editing as the cost to running it is high.
However lets say you have access to Solar power then running one of these rigs might be an option. Shortly I will be getting Solar installed. But even then it will only offset my rig The KraKen during the day still it will make mining even more profitable and at some stage I will do a video on the install of my Solar setup.
If you are new at Mining this video will give you some help choosing a coin and help you to get started in the world of Crypto coin.
I get allot of people on the 123myit YouTube channel asking me about what coins are good coins to mine. Really you should always do your own research and make up your own mind on what coin is right for you. But in this video I go through a few tips to help people gain some knowledge about the coins and hopefully make some great investment choices.
This video assumes you have built a mining rig and you are ready to start mining coins for a profit.
I personally use the website www.cryptocompare.com for allot of my information about the Crypto Coin. And this website is a really good place to start getting familiar with Crypto coins.
I started out mining Bitcoin via Nicehash miner but more recently I have switches from Nicehash to mining Ethereum via a pool called Nanopool. Check out the Nanopool and claymore miner setup video here.
I also talk about Electroneum (ETN) coin, which will be available to mine on Android phone.
This coin has been as cheap as 3 cents USD!!! This coin is a bargin in my mind if the developers can get it working it will be very interesting and I think well worth at least a small amount of investing at the very least install the app and setup the wallet and get it ready for when you can start mining Electroneum ETN with your android phone. You can also earn free coins or refer friends through the Earn FREE coins menu inside the Electroneum ETN wallet. If you want to refer me my code is C2C4DD shameless plug 🙂 Thanks for your support.
Hopefully trying to get as many videos up as I can I have loads to show you guys but its just getting the time and effort to make these things happen.
This video will show you how to build a mining rig on a budget.
This video will show you how to build a mining rig with a strict budget. I have tried to do a build where I keep the costs down to help people who might not have a massive budget but still want to get into mining. In this build I really only buy three parts. Power supply risers and graphics cards. The rest I was able to get for free.
Budget Mining Rig Build Parts
► Sapphire Nitro + 4GB http://amzn.to/2yXIwL5
► AeroCool 750 watt power supply http://amzn.to/2yNcG2u
► Motherboard free follow links above if you need one.
► Ram free follow links above if you need one.
► CPU Free follow links above if you need one.
► Frame free follow links above if you need one.
Want to buy me a beer?
For this guide and other 123myIT social pages see the links below.
123myIT’s video on How to Mod Sapphire RX 570 4GB Elpida Bios!
I use MSI Afterburner to adjust the clocks of the cards until they become stable. Stability is very important for mining cryptocurrencies as this allows your rig to keep mining when it might otherwise go offline. Because you are squeezing every inch of power out of your GPU by over clocking the GPU and undervolting it to save on power consumption.
AfterBurner Settings I use to get rig stable.
Power limit: -6 or -4
Mem Clock: 1970 or 1980 or 1990 or keep going up by 10 till its stable.
You can download the modded bios from the 123myIT Downloads section here. There is two different versions. 256 size version and the 512 size version. The Sapphire cards for some reason have two different type of bios sizes. Both should work fine, but you use these bios at your own risk. This bios was created by people on the Anorak.Tech website.
For those of you that aren’t familiar with Nicehash, Nicehash was a platform whereby miners could sell the hashing power in exchange for bitcoin so it was a pretty good way, reliable way, nice and easy way for people to get started. What you needed to do was download the Nicehash mining software put in your wallet address and you can start mining straight away.
I did a video recently where I build my first mining rig and you’ll see that i’ve got a video called first mining rig build.
In this video I show you how to build a mining rig and then later i’ll show you an update of that mining rig. So what was I mining at the time when I first started I was mining Nicehash with bitcoin and probably making about $300 worth of bitcoin.
Since then I wanted to change from Nicehash across to Claymore dual miner which allows you to mine both Ethereum and another coin like Decred for example so I started doing that for one month. I was about to change back to Nicehash and start using Nicehash again as the coin seemed to be getting more and more profitable. Bitcoin just seem to be going up and up so it seemed like a sensible thing to actually go back to and to try and get as much Bitcoin as I could get.
However when I went to try and start up the Nicehash miner you can see that it’s a just times out with a Nicehash sma information message.
Its really sad for the community really sad for the time and effort into in a building this business up and running it I just think a lot of people are going to miss out because of the demise of Nicehash I mean who knows they might be able to resurrect themselves, maybe not?
First Mining Rig Update – Troubleshooting Hardware
123myIT’s First Mining Rig Update
Quick video update to the First Mining Rig Build video. Link here. This video will talk about some of the pitfalls and hurdles I had building the rig. The problems I had were mostly Sapphire RX 570 cards not over clocking as high as some of the other cards. The point of over clocking and undervolting is to make the cards perform the highest on the lowest power usage.
Other problems I had with the rig were the USB hard drive didn’t work so well with Windows 10. I fixed this by adding in an old sata hard drive that I had.
Below is a list of parts that I have used in this first mining rig build.
► Gigabyte motherboard
This motherboard is specifically designed for 6 GPUs and is cheap buy in price makes it a steal. Worst comes to worst you can reuse this motherboard for gaming if you wish.
► Celeron CPU
We choose the Celeron CPU because it’s cheap to buy. But also it’s cheap to run. 3930 has a power draw of 51 watts.
► EVGA Power supply
EVGA power supply are probably the best power supplies around. Their power supply’s efficient and they also have plenty of cables so that you are not daisy chaining to much hardware together.
► Crucial 8GB Memory
You can go the cheaper 4GB of ram. But just in case I want to turn this rig into a gaming PC I went with the 8GB of ram.
► Sapphire Nitro + 4GB
Sapphire RX 570s pound for pound probably the best cards that’s you can get with regards to hash rate and power supply. The higher the hash rate the higher the return on investment.
► PCIE Riser cards
PCIE riser cards, these little babies are used to lift the graphics cards off the motherboard allowing you to stack more graphics cards.
Your SSD allows you to store the Windows 10 software along with the Software that you will use for mining example NiceHash or Claymores.
► Frame if you need one.
This hold all your equipment together in one frame. I made mine out of a chest of draws that someone threw out. Cheap and good for the environment as it doesn’t go into landfill.