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What is Mining Rig?
Mining Rig refers to a computer system that practices to mine Bitcoins/ Cryptocurrency. The rig either be a dedicated miner or a computer. The dedicated miner could procure, built and operated precisely for mining, where a computer fills the requirements, such as gaming system or utilized on only part time-based.
Considerations to take before mining
Figuring out the ROI by evaluating to proceed to mine with custom Mining rig or purchase a pre-built mining rig is good. In this competitive era, everyone must deliberate the following points.
- Mining hardware’s hashrate execution
- The Bitcoin network’s current difficulty
- Electrical costs
- Time and Maintenance associated
Read also: What is Bitcoin Mining? & How Bitcoins are Mined?
A pre-built device facilitates you analyze machine details including hashrate execution or the speed where device performs mining calculations. However, measuring the performance of device is feasible in terahashes for each calculation clear up/second.
Bitcoin Mining involves the electrical consumption cost. The cost to power the mining rig usually comes until someone steal or get free electricity. To measure out the ROI of machines, miners should classify performance of hash execution by consumed electrical watts. Though, the cost of electric power is different depending on the location you stay. For instance, the rough calculation of US pays out is 12 cents/ kilo watt-hour. Whereas, other areas of the world like India and China can avail this in lowest price.
The cost to acquire the mining is yet another variable, Miners should focus on. Pre-manufactured mining rigs can have ranged from US$500 to $2000 depends on performance & if the device is new or used. In order to get more of your investment in Bitcoin, you have to mine it, so that you can cover up the price of machines and get profits.
Time and Maintenance:
Timing and Maintenance are the keys and crucial elements considering before proceeding the mining. Bitcoin mining machine requires time to be setup for the process. Since devices run so hot, Bitcoin miners entail fan replacements. Large data enables hire employees to look out of various machines operating 24/day.
Read also: How do you get Bitcoin?
Mining Rig Companies and Products
However, Considering the market, only a few dedicated mining rig companies are available with dedicated mining rigs. Bitmain offers two dedicated mining rigs i.e: Antminer brand and the S9 series. These two machines involve consumption of approximately 845-1375 watts and calculate hash solving at 8.6-12.9 TH/s.
Although, Avalon 721 ROQ Solid Miner is another launch from the Cansaan manufacturer. It uses 16nm ASIC chips and a “Smart Layout”. This rig operates at 6 TH/s and also uses 900-1200 watts. Avalon poses open source repository for its mining software as well.
Custom Mining Rigs
Custom mining Rigs can also be consider! People can gather data station through parts and devices from multiple companies.
Estimating a mining ROI
Estimating a mining ROI is possible via variables provided from the machine’s performance. Nonetheless, there are calculators available on the web to evaluate the miner’s performance and ROI. It must have to consider that ROI time frame will be different every day with fluctuating electrical cost and network’s mining difficulty.