Crypto mining generally involves the use of a computer or even multiple computers for validating transactions on any blockchain. Typically, these computers are dedicated to solving crypto equations and recording information in a compact digital ledger.
When crypto miners begin verifying hayes of different uninformed blocks, they start receiving rewards for every verified hash. Crypto mining can be computationally and energy intensive, sometimes even requiring specialized crypto-mining software and hardware.
But what is a mining rig?
Amongst the most profitable and most mined cryptos are Dogecoin, Ravencoin, Monero, and Bitcoin. Ether was also a part of this exclusive list, but then Ethereum shifted to a PoS (proof-of-stake) consensus algorithm recently, which basically means you can no longer mine ETH.
If you want to invest in crypto or are new to the same, then understanding how crypto mining works is vital. Miners, after all, play a vital role in ensuring the decentralization and security of blockchains.
Since crypto mining is not a simple process to figure out and requires special mining hardware, a mining pool, and software, we are here with some crucial details to get you started.
So, What Is A Cryptocurrency Mining Rig?
What is a crypto mining rig? It’s a specialized hardware system used to mine cryptocurrency – a mining rig is generally based on a graphics card’s design.
It is commonly an arrangement of different hardware elements – either ASIC or FPGA, GPU, CPU – all of which have been simply arranged to execute cryptocurrency mining.
Pretty simple, right?
In reality, it does seem like a simple concept that is very easy to understand. But the truth is it’s so much more complicated.
This is simply because it isn’t an easy task to bring these elements together randomly out of nowhere. Instead, you will have to do the same in a certain way which will make your investment journey long, giving you the opportunity to recover accompanied by profits.
Types Of Mining Rig:
Mining Rigs can be segregated depending on the kind of crypto-mining hardware that they are using. In this context, let’s check out the currently existing kings of mining rigs – scroll down to find out more.
1. CPU:
While looking for a specific Bitcoin mining rig is logical, understanding CPU is equally important. First, the advent of FPGA, and then ASIC’s arrival, followed by GPU’s optimization, has entirely replaced the use of CPU. But there are still certain cryptos like XMR (Monero) that are still profiting from CPU.
CPU is so easy to install as well as set up – simply because CPU mining rigs are just the result of putting multiple computers installed together for mining a specific crypto that can only be extracted with the help of using these devices.
Initially, miners were seeking multi-CPU motherboards and multi-core processors to optimize the mining power in their favor. Even computer clusters were built in the process!
2. GPU:
GPU mining rigs are perhaps the most popular ones today since these are used for mining cryptocurrencies like ZEC (Zcash), ETC (Ethereum Classic), and several others.
Within a GPU mining rig, there’s a computer. Multiple graphics cards or GPUs are connected to this computer – then these cards are used as solid mining accelerators. Each individual GPU offers plenty of power, acting as a mining node. The power is then simply multiplied by every individual GPU that has been installed within the rig already.
Due to GPU’s low maintenance and ease of assembly, these are one of the favorite elements for small crypto miners. These are also highly versatile.
For instance, miners who have been mining Ethereum with the help of a rig can use the same for mining other cryptos just by changing Ethereum’s mining program and then directing the same to another crypto.
3. FPGA:
FPGA used to be a popular crypto mining tool sometime back due to its versatile mining capabilities for different cryptos. But ASIC’s arrival and GPU’s optimization simply displaced the use of FPGA completely.
4. ASIC:
The ASIC mining rig is a tool that has been used the most in recent times by miners. ASIC (Integrated Circuits for Specific Applications) has been designed specially for performing specific tasks. These are hardware tools meant for making ASIC miners feel powerful, considering these were created to obtain power for performing its designated tasks.
How To Build A Mining Rig?
At this juncture, you can’t stop your thoughts from turning towards a crypto mining rig for sale – but what if we tell you that you can build a mining rig? Then naturally, the question is not about finding the perfect mining rig for sale but rather how to build a mining rig.
For instance, just start by asking yourself,
- Are you planning to mine from the four walls of your bedroom?
- Are you seeking a high electricity bill?
- Does your electrical configuration actually allow you to run a high bill?
- Do you have the space to build a mining rig that will not really disturb your neighbors or even you, for that matter?
- How much are you planning to invest?
- What coins are you planning on mining?
- What do you know about the different elements needed for forming a mining rig?
- How much crypto mining viability do you feel like achieving?
The reality is that you can have several questions, but then it’s necessary to ask those questions. This is because the answers to these questions will provide you with an idea of how you should start assembling your mining rig and making the most of it.
To provide you with a nice example, understand mining Ethereum Classic with the help of a mining rig accompanied by 4 GPUs from your room is so different from doing the same with 4 ASICs – this is because you probably will not be able to sleep properly due to all the noise that will come from the ASICs.
Additionally, the profit you make and the investment you will make will not really be the same amount. While a GPU mining rig for ETC using 4 AMD RX 580s will cost you about 1500 euros and get you a profit of around 1 euro daily, a 3 MH / s AntMiner E190 ASIC rig miner will cost you around 1300 euros.
Moreover, while you can easily install the former inside your house, the latter will consume relatively more electricity – about 790 watts.
Factors To Consider While Building A Mining Rig:
The top factors you must consider while building a mining rig are as follows,
- ASIC or GPU selection,
- Mining software,
- Power supply,
- Shelf or cabinet,
- Refrigeration, and
- Mining control point.
The Future Of Mining Rigs: And It’s A Wrap!
Now that you know what is an Ethereum mining rig or rather a crypto mining rig, what is the future of these rigs? In the near future, it is safe to predict that mining rigs will continue to be the easiest method of mining cryptocurrencies at low costs.
They might not be very powerful yet, but they can still get your profits if you know how to optimize them same. That being said, we must also note how the GPU mining rigs are looking so much more displaced.
At the same time, ASIC mining is quickly becoming the absolute Queen of the whole crypto mining game. In the next few years, both CPU and GPU mining can disappear completely – so what do you think? Share your thoughts with us in the comments below.
