Today we’ll get into technical details of cryptocurrency mining. In the previous article we talked about Bitcoin mining and what do you need to start mining Bitcoins. Unless you have very cheap electricity and a good budget to invest for ASICs, Bitcoin mining is not a profitable solution. Fortunately, cryptocurrency mining is profitable and you can exchange the altcoin into Bitcoins. There are two ways you can mine an altcoin: with a CPU or with GPUs. We highly recommend for serious miners to mine with GPUs.
How to start?
The best way is to do a research of the hardware you need. Just like in any other personal computer you need the basic components for a mining rig: processor, motherboard, RAM, power supply, video card(s), hard disk and the peripheral devices.
Processor (CPU) - As long as you decide to mine with the video card, a CPU doesn’t need to be powerful. A basic CPU (e.g. Intel Celeron 2.7GHz) is the best solution for you.
Motherboard - It is very important to choose a stable motherboard with 5-7 PCI slots so you can connect the video cards. We highly recommend to use the ASRock H81 Pro BTC (6 PCI slots).
RAM - 4GB of ram is working very well for the rig.
Power Supply (PSU) - The power supply needs to be very efficient. It has to power up all the components from the rig. Take in consideration that the video cards are consuming the most electricity so the PSU has to be powerful. Depending on the situation, you can use 2 PSU’s in one rig, but the best choice is to use 1 PSU with a capacity of 1200W.
Hard disk (HDD) - Instead of a hard disk, you can also use a flash drive with at least 16 GB. The operating system (OS) will use most of the space.
Video Cards (GPU) - Here is a very controversial discussion about the best GPUs for mining. It highly depends of what coins you want to mine, what OS you’ll use and how much money you are willing to pay. However, AMD GPUs are highly efficient when it comes to mining. Considering that, for a high profitability you need to invest in 6 GPUs/rig as long as the motherboard has 6 PCI slots.
Risers - Risers are well known to miners. Risers are cables that help you extend the video cards from the motherboard. We highly recommend the 1x to 16x powered risers.
Before you assemble the components, make sure you have a rig. Keep in mind that dust and heat are the worst enemies for your rig and can highly affect the mining hashrate.
OS + Drivers - At first you need an operating system: Windows/Linux. Windows is easy to use but you need a license for it, meanwhile Linux is free, but it is a little bit difficult to use before you get used to it.
Miner software - Depending on which coin you want to mine, you have plenty of software. All of them include a specific fee for the developer (it is deducted when you start mining). Usually you can use the features that help you to improve the performance, security options, backup options, etc.
Mining pool - Mining pools are helpful for miners because they share all the hashrate and get a reward according to the hashrate. Also the pools include fees and sometimes they might go offline. However, if you set the miner to switch the pool automatically when it goes down, you'll have no surprises.
Overclock - Be aware with overclocking because it can reduce the lifetime of your video card. The best way is not to get greedy and do a realistic overclock.
For that being said, the process of mining comes with heat, noise, electricity costs, ventilation problems, maintenance and regular checks. If you want to be a miner, but you don't want the burden that comes with it, we invite you to become our partner. You can invest starting from 30H/s (CryptoNote).
We are mining the most profitable coins and pay our partners in Monero. For any information, feel free to contact us.