In this video & article I explain how I was able to make more profit from mining Cryptocurrency by installing Solar panels on my roof. There is a few reasons why I decided to get solar. The first is to reduce my carbon foot print. We all have to do our bit to try and make the world a better place and there are some really easy ways to do this. That was the first reason.
The second reason was that I like to support the Solar industry. This is an industry that can solve allot of problems for humankind rather than burying it. Other industry’s out there are not so friendly towards out future.
The last reason was that I could use some of the power to mine Cryptocurrency. The panels will pay of the mining rig and the mining rig will pay off the Solar. This will happen at a much faster rate then if I was able to get some money back on my power bill from the energy company.
How does it work?
The sunshine hits the panels and then flows down into the house first, so you use the power before it goes out to the grid. And you can get a refund of power supplied by your energy retailer.
The current feed in tariff in Australia is not much something like 12cents per kilowatt hour on a good day you can put in about 4 kWH to the grid.
This is middle of winter figures so this would be higher in summer. You need to also take into account that you are using the power first before it goes out to the grid. Fridges will use that power before it goes out. The actual figure would be higher then 4 kWh. Because the feed in tariff is not much its important to use the power before it goes out to the grid. In this case I am using it to mine Ethereum.
You could go one step further and install a battery. That way any power would be stored in the battery and used at a later time. The problem with this at the moment is that the battery’s cost far outweighs moneys saved. Buying a battery would be money wasted pretty much.
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.
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?