What are the hardware requirements to make $2k a month mining Ethereum?
ETH on!
As of today, June 3 ETH is currently $221, so to get $2k a month mining this coin your going to need >500MH/s of hashing power to generate it. With a Radeon RX470 that I use for mining Zcash you can easily squeeze nearly 30 MH/s out of it - with BIOS mods and overclocking tricks.
First find a really cool place - this is essential - my last Zcash mining rig super-heated my old flat to 57C/134F! - it was worse than the Libyan desert I backpacked in many years ago - illegally of course!
The highly rated Radeon R9 390
Setting sail
For our >500MH/s about 14 cards should do the trick. The cost of this expedition will be around $5k including the motherboards, power supplies, RAM etc. to run the thing. This is also assumes you can buy cards in this number as they are rarer than hen's teeth - try eBay for used cards too.
$5K is a lot of cost to recoup, and it is possible to buy pre-assembled rigs on eBay, but you'll pay a premium cost for that luxury.
In essence by month 2.5 you'll be in profit happily making Ethereum profits - assuming the difficulty doesn't rise too much. Also note the fact that Ethereum is moving from Proof of Work (PoW) to Proof of Stake (PoS) by the end of this year.
Happy mining!
Sadly, the summer temps and utility fees are much too high to operate a mining rig here (without a huge loss of profit, I'm guessing).
My experience with mining goes back to the HD 6870 days. And yea, I might have just used that rig to play BF3...
BF3 for high utility areas indeed @gigafart ... still OK here in the UK ... just!!
Seems like a lot to invest in equipment, but 2.5 month is fast enough to get the money back and earn... Assuming this investment will last at least 2 years or more, looks like a good deal :D :D
The return on Zcash is slightly better with less cards :)
@mindhunter Thank you for the hashing info!!! I love it! :) If you get the chance, can you upvote my newest post where I teach you how to become a millionaire with crypto? :) Thanks! https://steemit.com/money/@parkermorris/become-a-millionaire-in-the-next-5-years-with-these-5-simple-steps
Done Parker! Great post! Lots of upvotes :)
Informative post..Great....:)
Glad you enjoyed it old friend @bibek :)
Thank you for the nice comment...my dear friend ...@mindhunter
:D Steem on @bibek - tell all your friends too!
Sure...Thanks
It is a great suggestion but Does it have any risks associated with it?
Yes. Your house might burn down if you don't keep the kit in a cool place @rocksg!
OMG! it is so hazardous. What about laptops? Can the heat damage them?
When the fans get old and dusty on laptops they tend to overheat badly! Mine elsewhere is my best advice @rocksg!