A Beginner’s Guide to Ethereum Mining – What You Should Know

Ethereum, the second largest digital currency in the world by market cap, showed a colossal development in the year 2017, and its value rose by over 12,000%, ascending from just $7 in the month of January, 2017 to $860 by the year-end. It is interesting to note that digital currency lovers and specialized experts trust that Ether can possibly exceed the value of $1350 this year. When it comes to cryptocurrency mining, Ethereum seems to be a great option to go with this year, particularly for amateurs, because it is ASIC-resistant and one can mine it with a CPU or a GPU mining rig.

This blog covers the best Ethereum mining equipment available in the market today, along with the best mining pools for Ethereum. In order to create a competent Ethereum mining rig, the following equipment need to be used:

• Motherboard: Opt for the ASUS PRIME Z270-P LGA1151 DDR4 USB 3.0 motherboard. On the off chance that it is out of stock, try to buy a motherboard which is compatible with the organization of 6 GPUs.

• CPU: Opt for Intel Dual Core G3900 2.8 GHz 2M Cache. There is no need for a more intense CPU. On the off chance that you go for a different model of CPU, simply ensure that it is in sync with the motherboard that you are using.

• Power supply: Opt for the Corsair CP-9020139-NA HX1000 1000W 80 Plus Platinum power supply which is known for its high performance. On the off chance that you would prefer not to use it, pick another model to ensure it has an energy of 1000 Watts at least, so it can proficiently fuel the graphics cards for your mining rig.

• 6 Graphics Cards: Opt for 6 GeForce GTX 1080 G1 graphics cards. Each of the cards yields a hash power of close to 31 MH/S. Despite the fact that Nvidia GTX 1080 is generally more proficient in mining owing to the fact that it generates higher hash rates, unfortunately, the manufacturers have abruptly stopped engineering it.

• DDR4 RAM (4 GB): A well-built mining rig does not demand much RAM. You can simply opt for a cost-effective 4 GB RAM. However, do ensure that you are using a DDR4 RAM stick.

You will also need riser cables (a total of 6 units) to connect the 6 graphics cards to the motherboard.

• OS: Opt for Windows 10, since as a matter of course, it comes with a driver support for your GPUs.

You will also require an SSD hard drive having a minimum of 60 GB space so as to store the OS along with the Ethereum mining software.

Building a mining rig for Ethereum by utilizing the above-mentioned equipment will generate a hash speed of about 186 MH/s. Considering that an electrical charge of about $0.12 per KWh (this is the normal cost of one electrical unit in the US) along with an Ethereum mining pool charge of about 1% (this is the average) is levied, this hashing speed will generate a profit close to $743.71 every month, that is, $9,048.46 every year, as indicated by CryptoCompare’s profitability calculator.

The Best Mining Pools for Ethereum

Once you have created your own Ethereum mining rig, you must join a mining pool for Ethereum to begin mining. Ethereum mining pool is a mining platform where a large number of miners come together to mine ETH. Participating in a mining pool may reduce the pay-out, nonetheless you will receive a stable profit on a regular basis.

When speaking of Ethereum mining pools, it is better to join a cloud mining platform which helps you earn steady profits. HashGains is one of the primary cloud providers across the globe. One does not need to put resources into a mining hardware anymore. You should simply purchase a cloud contract for a desired hash rate and begin mining. The organization has received adopted state-of-the-art technology when it comes to running its green mega data centers which draw power from renewable energy resources. HashGains offers the best features at the best possible rates. HashGains’ mining platform ensures smooth functioning and provides miners with regular payouts in the simplest manner.

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