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Jinx’s Litecoin Mining Rig As of 1/27/14 Spotswood is no longer selling the mining tray pictured below, instead he is offering an which sells for $100. A few weeks ago I started to learn more about Bitcoins and cryptocurrencies in general. Since I already had some extra AMD video cards my initial hardware investment was zero making it easy to get started. Since I’ve started mining I haven’t stopped and I’m now considering building a dedicated Litecoin mining rig with better hardware.

Great tutorial on how to build a mining rig. Check it out below! For full Bitcoin mining rig build guides go to:http://www.coinminingrigs.comThis. Sep 02, 2016 How Much can you make from building and mining 6 GPU rig with Ethereum and NiceHash Part 1. DIY Litecoin Mining Rig. 2019 Build your own Litecoin Mining Rig 2018. Which you can mine on a DIY mining rig, Litecoin is mined using custom computer hardware specifically.

1th Electroneum ETN Miner. Currently I’m mining on spare cards in my primary computer and with summer coming I would prefer to move my mining operations to the basement where the extra heat (and noise) won’t be such a nuisance. I’ve found coin mining to be an interesting, fun, and challenging hobby making it worthwhile for me to pursue. I certainly don’t have any plans to retire from coin mining anytime in the near future but I do think the potential rewards outweigh the risks. Many people in the or will suggest simply purchasing Bitcoins or Litecoins instead of investing in a mining rig. Personally I think the hobby of mining for coins is much more fun than just buying the cryptocurrency.

I also feel there is less risk involved with building a GPU mining rig. If the bottom of the coin market drops out I can still either sell my mining hardware, or use it for gaming, etc whereas if I had purchased ecurrecy I might have nothing left whatsoever. Why I Plan to Switch from Bitcoins to Litecoins I plan to make the switch from Bitcoin to Litecoin mining for a couple of different reasons. Based on their current price and difficulty Litecoins are more profitable to mine than Bitcoins.

You can plug in the numbers and see for yourself using Dustcoin.com’s. Their calculator computes mining profit based on hash rate, power costs, difficulty, and coin prices. ASIC based Bitcoin miners are becoming more prevalent.

As more of the ASIC miners hit the market mining for Bitcoins using GPUs will essentially become obsolete, many consider them to already be useless as Bitcoin miners but I’ve still been able to turn a profit. Litecoins are resistant to ASICS so it’s likely that GPUs will remain viable in the near future. As more ASICs come online it is anticipated that more GPU miners will make the shift from Bitcoin to Litecoin which will in turn cause Litecoin difficulty to skyrocket making mining less profitable. If difficulty increases and Litecoin value does not go up then it most likely will not remain profitable to mine for Litecoins. Although many people speculate that Litecoins could see a big increase in value if their adoption becomes more widespread. Litecoin Mining Overview EndWorldSuckDotCom provides a good general overview of Litecoin mining and profitability calculation.

Litecoin Mining Rig Hardware Costs Custom Mining Chassis by Spotswood If you’re looking for a low budget rig you might want to look elsewhere. The hardware listed below is based on a slightly modified design of. My modifications include the addition of a custom chassis which will provide a professional, and organized look to the rig. If you’re looking to save a few bucks you can opt for the plastic milk crate recommended in Cryptographer’s guide but I don’t care for the look of the crate rigs.

I also opted to include a 1000W power supply (+$30) to provide the option to add a 4th card in the future. Having additional wattage available also prevents the power supply from having to run near it’s maximum output (where they are least efficient). Other modifications: 1. Powered PCIe risers to reduce load on the motherboard 2. High quality Corsair memory 3. Low Profile USB drive for the Linux boot drive Component Item Quantity Unit cost Extended cost Chassis 1 $85.00 $85.00 Chassis Fan Mounts 1 $5.00 $5.00 Power Supply 1 $229.99 $229.99 Video Card 3 $319.99 $959.97 Video Card Riser Cables 3 $12.99 $38.97 Motherboard 1 $99.99 $99.99 Processor 1 $38.99 $38.99 Memory 1 $69.99 $69.99 Boot Drive 1 $10.99 $10.99 Cooling Fan 2 $9.99 $19.98 Total $1,558.87 Estimated Hashing Rate and LTC Generation According to the the 7950 card is capable of 600-685 kHash/s depending on the tweaks in use.

These estimates put the total Scrypt hashing power of this rig at somewhere 1800 – 2055. Using figures from the the rig should generate 3.04-3.47 LTC/day. Income Estimates Based on Current Prices ($3.14 per LTC) Low Estimate High Estimate Daily $9.54 (3.04 LTC * $3.14) $10.89 (3.47 LTC * $3.14) Monthly $290.18 ((3.04 LTC * $3.14) * (365 / 12)) $331.41 ((3.47 LTC * $3.14) * (365 / 12)) Yearly $3,484.16 ((3.04 LTC * $3.14) * 365) $3,976.97 ((3.47 LTC * $3.14) * 365) Estimated Power Usage The list a maximum power draw of 200 watts per card. The AMD CPU is rated with a TDP of 45 watts but in reality the CPU draw will probably be less since Litecoin mining puts very little load on the processor. The motherboard, chassis fans, and CPU fan are somewhat difficult to estimate when it comes to power draw. Component Estimatd Power Draw Video Card 600W (200W x 3 cards) CPU 45W Motherboard / ETC 100W Total 745W The best way to accurately measure operational power draw is to use a watt meter such as the power meter. Metacoin’s solar power system Calculating Operational Cost of Electricity Based on the estimated total power draw of the mining rig we can do some simple math to determine the expected cost for electricity to operate the miner.

Convert power rating of Litcoin miner from watts to kilowats 745W / 1000 =.745 KW 2. Multiply kilowatts by the hours the miner will run per day to get kilowatt hours (kWh).745 KW * 24 Hours = 17.88 kWh per day 3. Multiply kWh usage per day by cost per kilowatt. Electricity costs can normally be found on your electric bill. (I pay.19 cents per kWh which is considered high for most areas) 17.88 kWh * $0.19 = $3.40 per day 4.

Multiply daily cost times 365/12 for monthly usage cost $3.40 * (365/12) = $103.42 From these calculations you can see that the power draw of the mining rig, and how much you pay for power have a huge impact on the profitability of a Litecoin mining operation. If you don’t pay for power, or have a method to obtain it from renewable sources (solar, wind, etc) then you have a significant advantage over other miners. Electric costs can also be reduced by increasing the efficiency of the miner itself by undervolting, reducing heat, and using a highly efficient power supply (80 plus platinum). Litecoin value in dollars over the last 90 days Analysis of Overall Profitability and ROI Now that we know how much it will cost to build the Litecoin miner, and how much electricity it will burn during operation we can run the numbers for overall profitability of the miner. I highly recommend using your own estimates for power costs based on your local electricity costs. Cost per kWh can vary greatly between different parts of the country.

Please take the estimates below at your own risk, these numbers are based on the value of Litecoins today. Litecoin prices are constantly fluctuating and can be highly volatile. These numbers also do not take any downtime for power outages, hardware failure, or other issues into account.

I wouldn’t have any security concerns with running a miner on your gaming PC. I used my primary PC as a Bitcoin miner for quite a while before moving to a dedicated mining rig. Security starts to become a concern if you also keep your Litecoin wallet on the same computer you do a lot of web browsing on. Instead you might consider using an online wallet, or installing the wallet on another computer. You can easily create a script to launch cgminer so when you’re not playing games you can be generating coins instead. Litecoin mining does generate a decent amount of heat and noise though which can become a problem if your gaming pc is located near where you sleep.