How to mine cryptocurrencies? See tips and find out if it's worth it

pamella97 (21)in #cryptocurrency • 2 years ago

Mining cryptocurrencies requires attention to several points, from the hardware used to aspects such as which currency to choose, for example. Graphics cards like the RTX 3090 , from Nvidia , and the RX 6900 XT , from AMD , are the ideal models for those who want to achieve high profitability in the business – but, considering these models, the costs can be quite high. Because of this, it is also important to do the math and see if it really pays to enter this market. The TechTudo set up a series of tips to help you understand how this process works and evaluate if it is worth or not.

Brazilian desktop brings premium AMD chip and RX 6800XT graphics card

Processor and Motherboard

If in a PC for common use the processor can be a differential for performance, in a machine for mining the CPU plays a supporting role. Even input products can be used on a mining machine as the heavy lifting actually takes the video card. There are still chips with integrated GPUs, but they don't tend to offer adequate performance for mining.
The motherboard has a greater relevance. After all, you can purchase a product that supports multiple GPUs, which will give a substantial gain in your hashrate (speed at which your machine can process data). Miners tend to prefer models that have two, three or even four PCIe slots to use more than one video card.

Finding the ideal GPU

Unless you have a high-performance card that you don't use at home, or even if you plan to turn a gamer's PC into a mining machine, investing in a new GPU capable of delivering good performance in hash calculations will require a big investment. This happens mainly for those who intend to use only one GPU – after all, for the process to be profitable in this way, the product must have a very high level of performance.

The graphics cards that offer the best performance for mining are the RTX 3090 and RTX 3080 , from Nvidia, with a hashrate of around 90 points. The models were released a short time ago and still have a high cost here. Some models of the RTX 3080 are offered for around R$18,000, while the RTX 3090 has few versions available, with starting prices of around R$25,000.
AMD 's Radeon VII and RX 6900 XT also appear well, with 83 and 64 points, respectively. While the Radeon VII is not so easily found in the Brazilian market, the RX 6900 XT has a cost of around R$ 15 thousand.

Intermediate plates like RX 580 and GTX 166 , for example, have a hashrate of around 30 points, which can make mining less advantageous, as the energy consumption will be very high – and the return, low.

Even for those who intend to invest in new boards, the high cost can make this financial return take a long time. After all, even intermediate boards are at very high values these days.
Which cryptocurrency to start in?

For those who want to start mining, it is interesting to consider cryptocurrencies that offer the possibility of quicker returns. The Bitcoin , for example, is not as viable as it requires a very high processing power.

Among the most interesting options for beginners, it is worth highlighting the Ether, ZCash and Monero cryptocurrencies, which, even though they do not offer the same profitability as Bitcoins, allow the use of more modest machines for mining.

Mining in notebooks

For good mining performance, hardware needs to be pushed to the extreme over a long period of time, which may not be an ideal scenario when thinking about notebooks. A laptop needs to have a proper clock according to its thermal solution – while its source tends to offer a much lower amount of power compared to desktops.

The same GTX 1060 chip , for example, tends to mine less in a notebook, as its maximum operating temperature must be reached very quickly, leading to reduced performance to lower the temperature. In addition, the notebook power supply may not provide all the energy demand for a good mining performance, which makes the process unprofitable.

Why do mining farms make the most sense?

Mining farms pack a large number of boards and GPUs, which makes the gain scalable. While a home PC, at best, can have a hashrate of around 90, a mining farm has machines that alone can top 400 points.

In addition, mining farms are usually installed in locations where electricity tariffs are lower, which directly impacts yield. With a very high investment but achieving impressive mining rates, these sites still make sense for those who invested in the necessary hardware in a scenario where prices were more affordable.

It is worth it?

Possibly, with just one home PC in the mine, the gains obtained may not be enough even to fund the equipment's operation. Furthermore, investing in the hardware needed today will generate a very high cost, which seriously compromises the profitability of mining in the short and medium term.

Even for those who have idle high-performance video cards, it's probably more interesting to consider selling them, given the high demand for this type of component. That's because getting started in mining will require a lot of energy and time for little substantial gains.

How to mine cryptocurrencies? See tips and find out if it's worth it

crypto currency eng.jpg