Hello everyone. In this video, we are going to be talking about
my Mining experience with my Mining rig. As some people, who follow me on Twitter, might be knowing
that we bought a Mining rig 15 days ago. We tried to get an experience of the Mining rig.
I personally don't have any idea about Mining. because I was in college when Mining became popular.
I didn't have enough budget then. Busy with preparation. So I didnt have a lot of mining experience then.
Now that we have the time, we decided to try it. We've bought our Mining rig from BGC. Their contact
will be available in the description if you wish to contact them. So how was our 15-day mining experience and
whether I would recommend it or not, we'll be talking about that. Firstly, the Setup Experience. It took us almost an entire day to ready this mining rig.
They had set up everything in it.
What happens in Mining Rig is that there's no Windows, or MacOS.
It has a new Linux OS called Hive OS. They deliver the rig with Hive OS already in it.
It's present in a pen drive which you can insert into the rig. As you switch on the rig, everything happens automatically. All you need to do is – collect the mining rig from the shop,
take it home, switch it on and that's it. This is the only setup that you need to do and switch it on.
It's very simple. I brought it home, switched it on, plugged in the LAN cable,
mining started on its own. After this there's an app to monitor the mining, called the Hive OS app. It's available on App Store, Play Store, Android, iPhone and even on your PC. The app is also very simple. It shows you how many cards you have. They explain you all this, as they did to me.
We saw that all of my 5 cards are active.
For this I had used RX6900. This is an AMD Graphic Card. The power supply in our mining rig is the one provided by the manufacturer. The biggest issue that I faced was that the power supply plug
was a little bigger. It was the 16 Ampere one. I didn't have proper arrangements for it.
That is one issue. You'll have to buy a converter to tackle that. Next, its motherboard is sold separately. You can't mine in your PC. The motherboard for mining rig is different, as is its power supply. Next you arrange the cards, put Hive OS in it using pen drive
and then monitor using the Hive app on your mobile.
Now the question is, how many MegaHash were there ? So my setup was for 3900 MegaHash
and we connected it with 2miners.org In the last 15 days I was waiting for Ethereum's price to rise
so I could show you a considerable earning. So here, I earned roughly $240, in which you can include a little downtime of around 1-1.5 days since we had an electricity related work at our place. You can calculate that we were earning roughly
around $16-$17 everyday, depending on Ethereum's price. So the rate of daily earning can be finalized to be $16-$17. This earning varies with
which coin you are mining, its price at that moment etc. In my personal experience, if you are mining Ethereum
then you should not sell it immediately.
You should hold for sometime. The longer you hold,
the better its price is going to be and you'll get a better return. Now let's talk about the most important question –
What is the minimum cost for mining ? You can start around Rs. 85,000 (price of the rig)
and for placing it you'll need a table. The rig will take up the space of a table. You can place it there. The starting price is 85,000 and it can go upto 1-2 crores. The return of a rig varies with its size. Smaller rigs give smaller returns. For example, if you take a rig worth 85,000 – 1,00,000
then it gives around 5% monthly return (5% of the cost of the rig) As you move towards the bigger sizes,
economies of scale come in and the return goes upto 7-8%.
So the monthly return on the rig is 5-8%. You can confirm this by directly calling them. The 85,000 rig gives you a monthly return of 4500
and the 1 Lakh rig gives a monthly return of 6000-7000. You can go to CryptoCompare and check for yourself how much profit you can make on a specified MegaHash (depending on cost of electricity) I live in Noida. The cost of electricity is high here
because the electricity in my society is provided by Generator. This results in lesser profit as compared to the ones I could've got had I been living in Delhi or similar places where electricity cost is minimal. Here, I have specified my electricity cost, which is roughly this much And this shows my profit per week. By specifying MegaHash you can check estimates of your earning (given the price of Ethereum at that moment). You can check on CryptoCompare. Similarly, if you buy a rig worth 1 Crore,
you'll get a monthly return of 5-6 lakhs. Generally, the cost of the rig is recovered
within 10 months, depending on the rig. For that, you'll have to call and inquire from the concerned people. The contact no.
Is in the description. From there you can clear all your doubts and then decide whether you wish to buy or not. If you are new to all this commotion, I think you should start with the 1 lakh variant. It's the best option. Start with the 1-1.5 lakh variant and regain the money in some time, depending on how much you can afford. After you have regained the money in 8-10 months
(time depends on the rig), the rig is functional for the next 3 years.
So everything in those 3 years counts as a profit.
You can earn around 3-4 times the cost of the rig. If you have bought the 1 Lakh rig, then you can earn around 4 lakhs. and if the price of Ethereum increases,
then the price can go upto 7-8 times the cost price. Again, the cryptocurrency market is a risky one.
If the price of Ethereum falls you can experience an issue there. You have to keep this in mind and
act on the basis of how much you believe in Crypto. I will be making another update. Till now, we have mined only Ethereum.
We can also mine Ravencoin, ETC, Monero. I also wish to try mining some other coin.
That too is very simple.
Hive OS has something called as "Flight Sheet". Whatever coin you specify there, only that coin will be mined. Another thing is the withdrawal fee. If you withdraw the money from 2miners in Bitcoin method, then there is no withdrawal fee. I am working on similar content. Stay connected and updated for that. How you can withdraw it in Bitcoin ? That we'll let you know. How to change the coins, that also we'll let you know. If somebody has already bought the rig, even they can stay subscribed to the channel. Whoever is interested, or has certain queries,
they can drop those queries in the comments section. There's a contact number for BGC Miners in the description.
I've talked with their team. They will answer all your queries. You can buy from there
if you want. They offer delivery pan India. If you wish to buy from some other place, then that is upto you. I've bought my rig from BGC. It was a smooth process. If you have the time and you feel that you can get better prices from somewhere, then hunt and inquire from the market.
That's upto you. The availability of Graphics card is difficult as it is. That's it for this update. I hope this was worth your time. If you have any questions, feel free to ask.
Sorry that I couldn't shoot in my Studio Setup. Thank you for watching. :).
