Bitcoin farm – what is it and how to make money on it

()

What is a bitcoin farm

In the modern world, bitcoin is increasingly called the analogue of gold. Bitcoin mining or mining is a complicated procedure, because the amount of this currency is limited. Therefore, the complexity of mining only increases with time.

Bitcoin farm is a complex of computer technology that performs calculations in the required mode. In the classic version, the mining farm is a cascade of video cards that are connected to several or one computer. A mining CPU can also be used. However, its performance in the process of computing this type of data is insufficient.

Over time, the number of video cards used to operate bitcoin farms increases. For this reason, more powerful power supplies began to be installed. In this case, full cooling of the system is provided. When the demand for cryptocurrency began to grow rapidly, whole rooms with huge areas, server racks stood out for mining. Electricity costs also increased. However, even in this case, the return on investment did not decrease. Even after the rapid depreciation in 2011, the number of miners did not decrease.

On average, the number of mining rewards is limited by special system algorithms. In this case, the distribution of funds is carried out in direct proportion to the power that is spent on accumulating cryptocurrency. Literally from the first month of the appearance of bitcoin in wider access, far-sighted users began to assemble separate settings for mining. For some, the bitcoin farm has become the main source of income, for others, enrichment. The rest began to attempt to earn money by mining bitcoins too late.

The extraction of virtual currency is a complex process that requires the participation of computer technology of significant power. The miner must have considerable funds to invest in the acquisition of equipment. The result of the extraction is the determination of a new block by generating the correct hash code. The newly discovered block of the Bitcoin system confirms the authenticity of the transaction, storing important information about it in a common database. In order to avoid double use of bitcoin, the transaction is confirmed on 6 new blocks.

Every 2 weeks, the system increases the complexity of mathematical problems in a separate order for each Bitcoin farm, while reducing the speed of calculating new blocks. If we compare the requirements that existed even when the virtual currency appeared with the current ones, today the requirements for mining farms are strict. In addition, they differ in specific conditions. Payments to participants are made from the last deposits made.

Necessary equipment or how to assemble a farm

In order for the mining farm to bring good income, it is necessary to approach its creation with maximum responsibility. Farm assembly includes the following steps:

  • Purchase of several video cards with good cooling, the best hashrate-price ratio;
  • Purchase of a separate powerful power supply for the main installation – each board consumes more than 300 watts;
  • Construction of a structure similar to a server rack. The planned solution is mounted and assembled on it;
  • Air circulation, cooling;
  • Connecting the assembly to the computer, and it to the pool;
  • Mining launch.

Mining motherboard is the most important component of any bitcoin farm. In the process of its selection, the cost of the part should be taken into account (it can be inexpensive). However, there should be as many ports as possible. They should be located as convenient as possible for the user. Today, the assortment includes boards that are positioned as special boards for mining. For example, this list includes Biostar, as well as ASRock. Setting up a video card is another important step. For its full operation, you need to disable all unnecessary functions in the BIOS. For example, these are usb 3.0 ports, sound.

Mining processor

A modern productive Bitcoin farm is not able to function without a reliable processor. Experts say that mining on the processor is not relevant. Therefore, you can choose an inexpensive and simple processor model for the farm. It is recommended to consider the motherboard socket. It is important that the processor pulls the work of the miner and Windows 10. For such tasks, the BOX processor, as well as the Celeron G1840, are quite suitable.

Hard disk, RAM

For the farm, the 4-GB bar for inexpensive memory is enough. In this case, the memory should be suitable for the motherboard. A hard drive for mining a farm can also be inexpensive. A suitable option in this case is a 128gb SSD.

Video cards

Perhaps this is the most important point when creating a computer farm. The choice is based on the amount of earnings from mining on certain cards. For example, on AMD cards it is recommended to mine Ethereum. As for Nvidia cards, they are suitable for accumulating Zcash. The video card must have a good cooling system.

Power supplies

Before creating a Bitcoin farm, you need to take care of acquiring a good power supply from a trusted manufacturer with an 80+ certificate. Saving on this item is not recommended. Moreover, you must have at least one power supply in stock. The unit should not function at full power (100 W should be kept in reserve). When connecting several units to one farm, the load between them must be distributed evenly.

Mining pools and setting up Windows

In order for the earnings to be satisfactory, attention should be paid to all issues during the establishment of the farm. Therefore, you must install all driver updates for the selected hardware. You should also set the swap file to 20 GB. For overclocking video cards and remote computer control, it is recommended to download and install MSI Afterburner, and for monitoring the system – HWiNFO64 (is not a prerequisite).

Bitcoin mining process

First of all, you need to create a wallet. After that, you need to check the wallet address (long sequence of numbers and letters):

When the wallet is created, you need to join some pool. This is a group of bitcoin miners combining their own computing resources. The meaning of teamwork is that rewards are given out as blocks. On average, the created block costs 12.5 bitcoins.

To mine bitcoins, you must turn on your miner. After that, you need to open the pool, keep the username, password. The Bitcoin mining process is activated. The user will begin to generate balls representing participation in the creation of the next block. Based on the characteristics of the selected pool, participation will be rewarded with a certain amount of bitcoins. It is important to make sure that the wallet address is entered correctly during the registration process. Earn cryptocurrency online with a competent approach, you can quickly, on favorable terms.

How much the farm brings, is it profitable

Before proceeding with active actions, it is necessary to calculate the approximate earnings on the farm. Next, a calculation will be made of what income the cryptocurrency mining farm will bring. For instance:

  • The cost of the Radeon R9 380x is about $ 250;
  • Fixed price for electricity – $ 0.07 per kilowatt per hour;
  • Power consumption – 375 W (for the convenience of calculations, the computer consumes more);
  • Bitcoin exchange rate – 7200 dollars per MTC (at the time of preparation of this material).

Accordingly, if the video card has a capacity of 0.5 Ghash / s (excluding electricity consumption), the user receives $ 0.11 per hour. We can conclude that such income is unprofitable even under ideal working conditions. Therefore, a farm that works at home is not able to make a profit.

A farm that allows for the production of bitcoins, consisting of 6 video cards, consumes a certain amount of resources. In other words, with increasing power, the loss ratio begins to increase in direct proportion.

For ASIC

We leave bitcoin farms aside and move on to heavier artillery. If the farm was created from the best AntMiner S9 ASIC controller, we obtain the following data:

  • The cost of this project is about $ 1,700;
  • The price for electricity is $ 0.07 per kilowatt per hour;
  • A mining farm consumes 360 kW (excluding a computer);
  • The course remains unchanged.

The performance of this installation is 28 thousand times greater than that of a video card. Accordingly, such a self-made farm allows you to earn the same – $ 0.11 per hour. Growing bitcoins even on the most powerful equipment will not bring a large income.

Many users will ask what is the reason for the low earnings. Even at the most powerful installation, it will be possible to issue 0.18369518 BTC in free access with the current network complexity. During this period, such a profit will not even cover the cost of electricity.

Conclusion

Btcoin mining is currently a competitive activity. Over time, there are more and more users with modern equipment. It can be concluded that a home mining farm is not capable of generating income. Its payback is zero. The most reasonable solution in this situation is to monitor the forums of miners of other cryptocurrencies. The number of participants there is an order of magnitude lower. The available capacity of the average user is able to bring the desired income.

How useful was this post?

Click on a star to rate it!

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

Leave a Reply

Your email address will not be published. Required fields are marked *