Every year, cryptocurrency market participants ask themselves the question: “How much can you earn from mining a video card?” There is no universal answer. A miner’s income depends on many factors: the mined coin, the number and power of equipment, pool conditions, the cost of electricity and simple luck. Making money from mining is the most difficult and unpredictable business in the cryptocurrency field. In this article you will find out whether it is worth investing in video cards in 2022, and how much you can actually earn.
From this article you will learn:
- 1 What is video card mining
- 2 How much can you earn from mining a video card per day?
- 3 How to properly mine cryptocurrency on a video card - step-by-step guide 3.1 Step 1. Create a wallet
- 3.2 Step 2. Select a pool
- 3.3 Step 3. Organize the farm
- 3.4 Step 4. Installation and configuration of equipment and software
How does a cryptocurrency mining farm work?
It is a set of basic computer components, as well as at least 3 installed video cards, which earn money, this is not trading. Farms typically use a frame on which all equipment, including cooling, is located. Otherwise, this is the same PC, with a processor, RAM, SSD and power supply, but designed specifically for mining and generating more income.
Content
- Equipment
- Frame
- power unit
- Programs for cryptocurrency mining
- What tokens are available for a home video card?
- Do I need to use a personal PC to mine crypto?
Many people have heard the word Bitcoin, since it is the central cryptocurrency, which is equal to 90% of altcoins. However, it has not been possible to mine it at home for a long time, so the answer to the question of how to mine Bitcoin on your computer is one - there is no BTC for mining on a personal PC. This will require ASICs, which we will talk about another time.
Pros of a farm for earning crypto
- Simplicity - all equipment is placed on the frame, so complex cable management, etc. is not required.
- Cooling – there are no closed case walls, so you can install more fans, providing a comfortable temperature regime for the GPU.
- Profitability – you can connect several video cards to 1 motherboard, which is more economical than a PC with a separate processor, RAM and SSD.
What is needed for a mining farm
Having decided to assemble such a structure, you need to take care of the main components:
- Motherboard with multiple PCI ports to connect at least 2 GPUs.
- Even a 2-core processor is enough, since it will not need to perform complex calculations, because it is not the processor that earns money, but the accelerators.
- SSD for more comfortable and faster work, as well as storage of a crypto wallet if a non-cloud solution is used.
- Video cards with at least 4 GB of video memory, since with less volume in 2022 they are no longer profitable.
- At least 1 power supply for 700 W, and of good quality, to ensure a stable supply of energy to all equipment.
- A set of fans that will additionally cool the entire system, allowing video accelerators to operate at 100%, preventing frequency drops and early failure.
- Additionally, you will need raisers for connecting the GPU, materials for the frame, fastening and some other elements.
We will not describe the assembly process itself, since it will be very different for different mining farms. There are closed options, open ones - how the collector’s imagination works. In principle, there is no strict rule for assembling your design, but it must provide sufficient cooling and leave access to each GPU. It may be required in the future when servicing components.
Review of current video cards
A general comparison of mining video cards from Nvidia and AMD does not make sense, since they work well with different algorithms. And when choosing a model, you should take into account the type of altcoin that you plan to mine.
Nvidia
The most popular mining video cards are GeForce from Nvidia. It is profitable to mine Ravencoin, ETH and ETC, Zano, GRIN, MTP, Beam, as well as altcoins using the Equihash algorithm.
GeForce MX350
Cryptocurrency mining on an Nvidia GeForce MX350 video card with a 64-bit bus and 2 GB of memory (GDDR5) is only possible for currencies that do not care about performance and base memory frequency. The main advantage of this compact GPU is its budget price, so it can be suitable for beginners in mining.
GeForce GTX 1650 for laptops
Mining cryptocurrency on an Nvidia GeForce GTX 1650 video card with 4 GB of memory makes sense when mining simple altcoins with little competition. The compact device (only 18 cm long) is inferior in performance to more powerful models in the line, but has low power consumption.
GeForce GTX 1660 Ti
The productive video card with high-speed GDDR6 memory (capable of 12000 MHz) and a bandwidth of 288 GB/s is distinguished by its large dimensions: its length is 28 cm and its thickness is 4 cm. Two fans ensure reliable cooling of the model, and 8 GB of memory ensures efficient mining.
GeForce MX250
Effective cryptocurrency mining on an Nvidia GeForce MX250 video card depends on the correct choice of modification. The mobile GPU with an increased clock frequency has two models: 1D25 (10 watts) and a more powerful 1D13 (25 watts).
GeForce RTX 2060
The powerful Nvidia GeForce RTX 2060 graphics adapter has 8 GB of memory and high bandwidth of 448 GB/s. The silent fan on two bearings effectively blows hot air outside, preventing the device from overheating.
AMD
Most often used to work with currencies based on the Ethash algorithm (Ethereum and Ethereum Classic), as well as Ravencoin (based on KawPow) and GRIN.
Sapphire AMD Radeon RX 580 PULSE OC Lite [11265-67-20G]
The compact model (only 23 cm long) with 8 GB of memory is equipped with two fans and a radiator and remains practically cool even under heavy loads.
Sapphire AMD Radeon RX 5600 XT PULSE [11296-01-20G]
A video card for Bitcoin mining with high performance and high-speed GDDR6 memory has a low noise level and a high-quality cooling system with an additional heat sink. The aluminum body protects the device from dust or damage, and the dual bearing fans keep the GPU running smoothly.
Purchase
In 2022, not everyone can assemble the structure themselves, but at the same time they want to understand how they make money on mining farms. In this case, ready-made solutions that can be found on trading platforms will help. There are some advantages here:
- The equipment is installed and ready for use.
- The software is also prepared.
- You pay and the next day you can start earning money.
But there are also nuances:
- Not every seller knows how to correctly position components for better cooling and efficiency.
- Programs may be configured incorrectly, which will lead to low profitability on the mining farm.
- The price of such a solution already includes human labor, which leads to a premium of up to 30%.
In any case, it is necessary to clarify the warranty with the seller, which will minimize the likelihood of receiving a low-quality product.
Programs for cryptocurrency mining
The basic set looks like this:
- Operating system.
- The latest drivers for the video card.
- MSI Afterburner for monitoring and controlling video accelerators.
- Teamviewer for remote management of cryptocurrency mining.
Next comes specific software – miners. These are special programs that are responsible for connecting to the pool and stable GPU collaboration. They also help increase income through overclocking video cards, undervolting and improved efficiency of crypto mining. We will discuss the pool topic in detail in another article, but for now we can give recommendations about the 2miners pool - stable, with many participants.
Profit from cryptocurrency mining
The most common question is how does a mining farm work and how much does it earn? The algorithm seems simple:
- connection to the pool;
- decryption of blocks using video card power;
- receiving a reward.
There are different ways to pay remuneration, but 2 are the most popular:
- PPS – for the average number of balls opened during the search for blocks. A stable payment method, where everything depends only on the power of your equipment - you always know how much you get.
- PPLNS – payment for the last share. Here the role is played not by the mining farm itself, but also by the number of participants in the collaboration at different points in time. Using this scheme, it is difficult to predict what the income will be, since it can be either higher than predicted or lower.
What cryptocurrencies can be mined on a crypto farm?
The only thing that cannot be mined in 2022 is Bitcoin. In the near future, they may be joined by Ether, which is moving to a new Proof-of-Stake system, where mining will be impossible or ineffective; non-cryptocurrencies are now available for trading. The rest of the coins are quite good to look at. The indicator is the exchange rate, based on which a conclusion is made - what is more profitable to mine.
For example, this is the income a mining farm of 6 RTX 3070 would receive:
If she works around the clock, she brings in $700 a month – a pretty good result. Considering the current price of the video card, the cost of such a rig will be approximately $14,000. Consequently, it will pay for itself in 1.5 years, after which it will begin to generate stable profits. And if we take into account the probability of an increase in the price of coins, the result may be reduced even more. In addition, you will still have all the components, which also have their own cost.
The best cloud mining without investment: TOP 8 reliable sites rating + my review
I would like to bring to your attention a list of the best sites for mining in the cloud without using your own power or investing money.
Site No. 1: Mining in HashFlyer + Video
Network users who know what cryptocurrency is should try their hand at mining using the HashFlyer service, which has been successfully operating since 2015. Not long ago, the capacity of the multipool was significantly increased, so a Scrypt contract pays off on average in a little more than six months. Among the advantages of this service it is necessary to highlight:
- stable operation of the equipment, which starts immediately after replenishing the account;
- open information regarding the functioning of your own account;
- independent distribution to different pools.
The size of the commission on HashFlyer is fixed, and the fees themselves go towards paying employees, purchasing and depreciating special equipment, as well as paying for electricity. Today, HashFlyer offers several types of contracts, namely:
- Scrypt. The base hashrate is 1 MH/s, payment is $0.005. The contract is for one year. The cost is just over $7 per MH/s.
- SHA-256. The basic hash rate is 10 GH/s. Price – about $2 for 10 GH/s.
Payments occur in cryptocurrencies such as Dash, Zcash, Ethereum and Bitcoin. To rent hashrate, you need to go through the registration procedure and top up your account with the required amount of cash.
Site #2: Genesis Mining
It has been operating since 2013, and has its own powerful servers, which are located directly in the capital of Iceland. Today, Genesis Mining is one of the strongest players in the field of cryptocurrency, and cooperates directly with manufacturers of farms and equipment designed to earn virtual money. Each currency has its own tariff plan. Currently, users can choose from the following offers:
- "Gold" Designed for crypto mining of Bitcoins. The plan costs $30 per month. For this fee, the buyer has 200 GHs at his disposal.
- The “Platinum” tariff will cost $350 for the same period, but for this fee the system provides a capacity of 2500 GHs.
- The Diamond plan provides GHs 15,000 for a monthly fee of almost $2,000.
Genesis Mining does not involve any hidden commissions or payments for renting equipment and using electricity, so the payment amount is strictly fixed. There is an option for creating an individual tariff, which does not require a mandatory monthly fee and is agreed upon with the resource administration. You can use Visa or MasterCard credit cards for payment. The maximum rental period is two years.
Registered members of the web resource can count on additional commissions for attracting new investors, who will receive a three percent discount on the purchase of any tariff they like. The hashrate can be distributed among various cryptocurrencies, which allows you to increase profits based on their current market value. To protect registered accounts from unauthorized use, a two-factor authentication system is provided.
Site #3: FFLAK Mining
The project is focused on five different electronic currencies, including: Litecoin, Ethereum, Bitcoin, as well as XMR and BCH. ( Perhaps the project was closed ). Approximate profitability is about 1/2% per day. Half a month is given to each new user of the site, during which he must understand the features of its functioning and evaluate the expected profit. Other key features of FFLAK are worth highlighting:
- Fully automated payments, eliminating the possibility of delay.
- After completing the registration procedure, a bonus 100 GH hashrate is provided.
- Payments are made from 0.001 Bitcoin, the approximate profitability ranges from 150-180% per annum.
FFLAK Mining has a support service whose employees are ready to advise 24/7, as well as official communities on popular social networks, where you can similarly get an answer to your question. The administration’s interest in the development of the resource is manifested in the daily distribution of bonus codes that allow one to temporarily increase power or receive additional hash power for the electronic currency Ethereum.
Site No. 4: Hashing24 + Video review
The peculiarity of H24 is that it works exclusively with the Bitcoin cryptocurrency. Hashing24 is the official partner of one of the world's most famous Bitcoin mining companies BitFury. Literally anyone who can answer the question “What is Bitcoin?” can start collaborating with this resource. It doesn’t make much sense to purchase any special hardware, just like the skills that professional traders possess. In order to start earning your first “Cue Balls”, all you need to do is:
- Register on the project's web resource.
- You need to invest from $20, for which the power of 100 GH is provided.
- Estimated profitability is 130-150 percent per annum depending on the current BTC rate.
The company has its own data centers, which are located in Iceland and Georgia, and are reliably protected from DDoS attacks. For maximum convenience, the company’s official website contains a special calculator with which you can independently calculate your approximate income. The most convenient way to top up your account is through MasterCard, Visa cards, as well as WireTransfer, BTC and OkPAy electronic wallets.
Site No. 5: OXBtc platform
A distinctive feature of the service is the possibility of remote mining and placement of deposits in various cryptocurrencies. The central office of OXBtc is located in China, but at the moment it is actively developing the Western and European markets. The only problem that Russian-speaking users face is the lack of support for their native language. Therefore, to work on OXBtc you will need basic knowledge of English.
Today, three tariff plans are available within the portal, which differ in algorithms and other parameters. Replenishment of the balance and withdrawal of funds is carried out in such currencies as: Ethereum, LTC and BTC. The “trick” of the resource is the constant optimization of the electronic money mining process, which is expressed in reduced energy consumption and improved algorithms that can significantly increase the percentage of annual income.
In order to get acquainted with the full list of current tariff plans, it is worth visiting the official website of the Chinese company. For example, GHS HOST provides the opportunity to earn about 170% or more of the invested funds, while the cost of services is $0.099 per GHs. There are also budget plans like ETH HOST, which require payment of $16 per MHs. Those wishing to work with deposits can count on 7 percent per annum, as well as additional funds for each attracted referral.
Site #6: Cryptomonitor
The investment project Cryptotmonitor is a very successful symbiosis of different games and faucets. It has been operating since 2015, and is focused on the production of XMR, ETH and BTC. The contract is considered exhausted when the final income reaches 160-200%.
Withdrawal of earned money is carried out within 24 hours from the date of application. Cryptomonitor has a Russian-language version and representations in all social networks, as well as 24-hour support for users via the Skype messenger.
Site No. 7: Coinmix.biz
When listing sites for cryptocurrency mining, one cannot fail to mention one of the youngest but most promising thematic platforms called Coinmix.biz. It began operations in the fall of 2022, and today offers impressive income from 1.5-2% per day and various bonuses. You can increase your holdings of USD, ETH, Zcash, Dash, as well as LTC and BTC. Profit depends directly on the chosen currency and algorithm. Each new member of the Coinmix.biz team is given one GH of power, and as the level increases, the number of bonuses also increases.
The minimum investment varies depending on the cryptocurrency and its current exchange rate. At the moment, the site accepts deposits of money to start work in the amount of 0.01 Dash or Ethereum, 0.001 Bitcoin or one USD.
Withdrawals are made to wallets of various payment systems, such as ETC, Bitcoin, Payeer, Perfect Money and many others. Coinmix offers to take part in a three-level referral program, which allows you to earn from 5 to 15% from each attracted client.
Site #8: Dogemining
Dogemining is an imitation of cloud mining using leased or bonus capacities. Each new user receives a gift in the amount of one US dollar to their personal account. The minimum deposit amount is $7, while the level of profitability of this service is quite high (from 2 to 4% per day). The site uses its own virtual currency called Doge, in which all payments are made. You can deposit funds using systems such as: Monero, BTC Cash, Blackcoin, Litecoin, Perfect Money, Payeer and others.
The advantages of the Doge cryptocurrency include a high level of protection against “miner raids”, as well as resistance to artificially inflated exchange rates. Doge was developed for Scrypt algorithms, which makes it impossible to mine using special ASIC chips, which are actively used for Bitcoin mining. Today, many experts in the field of making money on cryptocurrencies believe that mining Doge separately is not very profitable. Therefore, they recommend using pools that combine LTC and Doge mining.
What to do with the mined cryptocurrency? You can keep it in your wallet, waiting for further growth in the rate. You can sell it, you can exchange it for another one - more promising, as you think. All these actions can be easily performed on the “Matbea” exchange wallet (https://matbea.com).
After basic registration using a phone number or email address, the user is provided with wallets for a number of cryptocurrencies: Bitcoin, Litecoin, DASH, ZCash, Ethereum, Bitcoin Cash, Chainlink, OmiseGO, WAVES, Monero. There they can be stored under the protection of three-factor authentication. Or you can sell them at the current rate and withdraw money.
“Matbi” will be convenient for those who constantly carry out exchange, purchase or sale transactions of cryptocurrencies. After all, one service combines the functions of both a wallet and an exchanger. The course, at the same time, is quite competitive with the exchange rate, and in the simplicity of the interface, “Matbi” surpasses many competitors. A couple of months ago, an application was released for iOS and Android, which completely adopted all the capabilities provided by the site.
If the user has any questions, the Matbi team has prepared detailed video instructions.
Is there any profit from collecting a crypto farm?
2021 – now is the time to try yourself in cryptocurrency mining through your own mining farm. If you realize that this activity is not suitable for you, then you can always sell all the equipment and go to 0 without losing anything. But, looking at the current situation in the crypto market, we can say with confidence that it is worth pursuing. This is a profitable job that does not require any effort from you, but only financial investments. Yes, there is always risk, but it is also present in any other type of business.
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Mining on a video card - easy money or unjustified expenses
A good video card is not just an adapter for digital signals, but also a powerful processor capable of solving the most complex computing problems. And including - calculating the hash code for the block chain (blockchain) . This makes graphics cards an ideal tool for mining - cryptocurrency production.
Question: Why the video card processor? After all, every computer has a central processor? Isn't it logical to carry out calculations using it?
Answer: The CPU processor can also calculate blockchains, but it does it hundreds of times slower than a video card processor (GPU). And not because one is better, the other is worse. They just have different operating principles. And if you combine several video cards, the power of such a computer center will increase several times more.
For those who have no idea how digital money is mined, a small educational program. Mining is the main, and sometimes the only way to produce cryptocurrency.
Since no one mints or prints this money, and it is not a material substance, but a digital code, someone must calculate this code. This is what miners do, or rather, their computers do.
In addition to code calculations, mining performs several more important tasks:
- support for decentralization of the system: lack of attachment to servers is the basis of the blockchain;
- confirmation of transactions - without mining, transactions will not be able to enter a new block;
- formation of new system blocks - and entering them into a single registry for all computers.
I would like to immediately cool down the ardor of novice miners: the mining process becomes more and more difficult every year. For example, mining bitcoins using a video card has long been unprofitable.
Only die-hard amateurs now mine cue balls using GPUs, since video cards have been replaced by specialized ASIC . These chips consume less power and are more computationally efficient. They are good for everyone, but they cost about 130-150 thousand rubles .
Powerful model Antminer S9
Fortunately for miners, Bitcoin is not the only cryptocurrency on the planet, but one of hundreds. Other digital money - Ethereum, Zcash, Expanse , dogecoins , etc. It is still profitable to mine with video cards. The remuneration is stable, and the equipment pays for itself in approximately 6-12 months.
But there is another problem - the shortage of powerful video cards. The hype around cryptocurrency has led to an increase in the price of these devices. Buying a new video card suitable for mining in Russia is not so easy.
Beginning miners have to order video adapters from online stores (including foreign ones) or purchase used goods. By the way, I don’t recommend doing the latter: mining equipment becomes outdated and wears out at a fantastic rate .
On Avito they even sell entire farms for cryptocurrency mining.
There are many reasons: some miners have already “played enough” of mining digital money and decided to engage in more profitable operations with cryptocurrency (in particular, exchange trading), others realized that they were unable to compete with powerful Chinese clusters operating on the basis of power plants. Still others switched from video cards to ASICs.
However, the niche still brings some profit, and if you start mining cryptocurrency using a video card right now, you will still have time to jump on the bandwagon of the train leaving for the future.
Another thing is that there are more and more players on this field. Moreover, the total number of digital coins does not increase from this. On the contrary, the reward becomes smaller.
So, six years ago the reward for one blockchain of the Bitcoin network was 50 coins , now it is only 12.5 BTC . The complexity of calculations has increased 10 thousand times. True, the value of Bitcoin itself has increased many times during this time.
