@ivga80 lets se, how do i start.
I start my crypto journey back in 2016, i manage to buy an used Antminer S4, 2 TH/s with a 1400Watts antminer power supply included. I live in a 120 square meter apartment, 3 rooms, one of that room i used for the Antminer.
That ASIC machine did produce a lot of heat and noise, and trust me, it was A LOT of noise, the heat also was all over the room (like 45c to 60c depending on the year station), by that time btc was at a very low price if i remember well (like 400$ or 600$), i was doing around 0.05 BTC monthly.
Now, i have the advantage that my country have almost free electricity (i pay like 2$ to 3$ per month), so i start experimenting on different altcoins that can be mined with that S4 (only SHA256 algorithm).
I start getting some satothis and went to “trading” on poloniex first, then others exchanges, ending up in YoBit (kinda like a russian pirate bay full of shitcoins and pump and dumps at any time, i advice to stay away from that horrible place ).
After win/lose a lot of money on trading i realize the risk that Trading is if you do not know what you are doing, following pump&dump groups on facebook and telegram…that does not end well my friend .
I just stop trading, i was mining DGB by that time since it was the most profitable coin for that time, i hold and became a hodler, while i was learning more about blockchain, mining algorithms, some few trading technical analisis, then 2017 bull market came up, i remember i sold 80% of my stack of DGB at 2400 sats, all other little coins that i had (PPC, ZYD, DEM, BTC).
With that money i did a lot of things to fix my life, i bough my 1st GPU mining rig right when GPU prices was on the top (i paid 700$ for a 1070 and 420$ for a 1060 3gb).
Why a GPU rig than a ASIC? Easy, less heat and noise, also the ability to mine other kind of algorithms was a plus that i see on them. By 2018 i was experimenting by mining different algorithms, ending with some coins that end up being scam, so i realize that it should be better to have an strategy and stick to it.
Now what can i advice you:
Design a portfolio and stick to your strategy, keep it tiny, 5 to 6 coins (BTC and ETH is a must!).
- If you have a basement (has you said), maybe an ASIC it will be more profitable than GPU rig, but keep in mind that ASICs that are not for SHA256 (BTC algorithm) is a high risk (some cryptocurrencies end up to switch the algorithm to get free of ASIC and FPGA centralization).
- ASICs produce a lot of noise and heat, so try to design an airflow to get rid of heat and there are some custom boxes for ASICs to reduce the noise.
- GPU rigs are less powerful in hashrate than ASICs, but they are less noisy and heat producers, also remember you can switch to more algorithms, they are flexible in that way.
- Measure and be aware of your Kilowatt/hour cost on your country, it will help you to have an idea of how profitable mining will be for you.
- You are not going to get rich with 2 or more GPU rigs or ASICs, its an investment at long term and a almost forever learning curve since you must be focused on news about the coins you mine.
- Design a maintenance plan for your rigs, keep them clean and healthy, learn about how much electricity power they consume in order to know which is the best power supply solution so you dont end up burning cables or the machine itself.
Dont know what else for now .
Actually my GPU config is this:
- 4x1070 (different models, if you can build all gpus for the same model will save you a lot of overclock issues).
- 2 psu (power supply unit) 750W each, both are GOLD+ certified.
- 2 gpu risers per sata cable, 2 gpus on each psu, each on one PCIE power cable (connecting more than 2 gpus per PCIE cable could end up very bad, also for the risers).
- Overclock is tricky, this should try to keep the most efficient hashrate with low temperatures and less use on the gpu fans (i like to keep mine below 65-70c with 45-65% of fans speed with 45% less power consumption).
- Im using SimpleMining OS (SMOS) has operating system on an 16gb usb drive, it cost 2$ per month, can be payed in cryptos directly from the website dashboard, i have try their customer support and their really good at it.
- I put my rig to “sleep” 2 hours per day at afternoon since the enviroment heat is a little bit high, and this kind of devices are not designed to stay up and running for long periods of time. (SMOS have a decent option to manage this).
By the moment i have not reach the ROI (return of investment) for it, but im 1000% sure that its a long term rally, time and patience will give me the profits that im aiming for.
Any other doubt you have, we probably can help you sir!