Mining with homemade equipment is back in fashion, so here’s what you need to know to build your own mining rig.
At a time of global crisis, a pandemic and a generally unstable political and social environment, cryptomonics shows remarkable stability. In addition, the economic recession induced by the pandemic played into the hands of the industry not only by attracting professional crypto traders, but also by reviving mining as a way to generate passive income.
It is not surprising that countries in difficult political and economic situations have experienced a boom in the purchase of graphics cards in recent months. In the Abkhazia region, where all cryptomone-related activities are illegal since 2018, citizens spent more than USD 500,000 on mining equipment over a six-month period.
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Another factor that has worked to further popularize mining is the strong prices of cryptomonies. Bitcoin (BTC) increased by almost a third, while Ether (ETH), the most popular currency for mining, added USD 150 to its price and the DeFi-mania meant that gas rates reached unprecedented levels.
So, here’s how to put together your own mining rig, and an exploration of whether it’s necessary to do so, given all the risks involved.
Components of a mining rig
A crypto coin mining equipment consists of a computer that has many graphic cards but no monitor. Computer cases are filled with GPU cards, a power supply, a motherboard, and a cooling system. If a monitor is connected, it can become a normal computer where a user can open a browser or play his or her favorite video game.
The computer is connected to the Internet, and therefore, to the blockchain network. The network operates by itself to make monetary transactions using the power of graphic cards. To be more specific, a mining rig consists of
A motherboard, which has the ability to connect several graphics cards.
A hard disk drive, or HDD, with 100 to 250 gigabytes of memory to hold the crypto wallet, with an Ether wallet usually occupying 25 GB and a BTC wallet requiring 50 GB or more.
Several GPU cards, which are the most important components of a platform because they are the basis that defines the crypto-currency that a user will extract, along with his future earnings and his timeline.
A power source. A computer with four GPUs often requires more than one power unit. Typically, miners have a few 750-watt units connected to each other.
A power adapter for GPU cards. Video cards are connected to the motherboard by special extension cards called „risers. There are many different types and models of risers, but the PCI-E 1x version 006 is the most popular.
A power switch
One cooling system, and it is preferable to have several chillers to provide additional airflow
Another important detail is the frame of the equipment. It is better to make a wooden or aluminum frame. The size of the mining platform will be a little bigger than its frame due to the protruding parts, the adapters and a cooling system. For example, a seven-GPU platform will be approximately 21 inches wide (53 centimeters), 12 inches deep (30 centimeters), and 12 inches high (30 centimeters).
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After buying all the components of the equipment, it is time to assemble it, which is a fairly easy task for a person who has experience with computer hardware. Also, there are many guides on YouTube.
When the computer is ready, all you need to do is install some software, i.e. choose a program to mine the currency of your choice. Another way is to find a mining pool, which is a popular way to mine, as it is becoming increasingly difficult to do so individually due to the growing complexity of cryptographic mining. There are also some tools available such as TeamViewer, for remote control, and WatchDog, which automatically restarts the system if the program freezes.