You can build an Ethereum Mining rig on your own following a few steps. You must choose and get the equipment and configure them appropriately. It may take a few days of effort and picking the right GPU. Decide if you want to set up a physical hardware based mining or prefer buying a cloud mining contract. You need a few components that can vary in costs based on your choice.
A motherboard is the main part of a computer and this is where you feed in all your resources to build your mining rig. The most crucial requirement in a motherboard is the number of GPU slots it offers. It is only then you can know how many graphics cards it will be able to hold and this has an influence on your total hashing power. For instance, a 3 PCI Express slot will allow you to fit 3 x Radeon HD 7950 with a hash rate of 20 MH/s each – and you can have a total hashing power of 60 MH/s. The motherboard comes with a beige or white colored connection port called a PCI Express slot. There are other types of slots too but the GPUs are more compatible with the PCI Express.
Choose your GPUs meticulously. Some are high in cost, while some work perfectly but consume heavy power. So, you need one that balances both. Look for efficiency as well as affordability. You must consider how powerful you intend your rig to be. There are several used available at lower prices, but you cannot be guaranteed of its performance and quality. Look for ones that fit into your budget as well.
Another issue you must look out for is that the two components i.e., the mother- board and the graphic cards may not plug in properly due to lesser space between the PCI slots on the motherboards. You will need to use a GPU riser which works like an extension cord for a PCI express slot.
All your mining software and operating systems are stored on hard drives. An SSD (Solid State Drives) works perfectly as they do not have any moving parts and are much faster than the traditional hard drives. The size capacity will again depend on your mining requirement. You must look at how big the blockchain is and is likely to become. If you are mining in an Ethereum pool you will not require storing the blockchain as your host will do it for you and you can manage with a regular hard drive.
RAM (Random Access Memory):
A 4GB RAM should be ideal for your mining business. It is a device used for scrawling down information and for reverifying information instantly in a computer.
Power Supply Unit (PSU):
Power supply units are available in varying sizes and this requires you to be sure of what size you would need. Calculate the power consumption of the GPU and the other devices. Ensure you have sufficient power supply to handle higher capacity. For instance, if your 3 GPUs consume 220 Watts each and other devices take about 250watts, you can easily manage with a 750-watt power supply. Having two separate power supplies will work out to be more cost-effective if you need 6 GPUs for constructing a “Mega Rig”.
This again is a tedious job as it will depend whether you are using GPU risers. Leaving the components on top of one another can cause risks of fire. You will have to leave the entire system open air or must build a customized case. Rigs can be off the shelf at retail stores of the providers or purchase online. The vendors will ship it to your address.
Putting it together
Just be sure all the connections are perfectly done and your power supply is redundant to handle the graphic cards requirements. Ensure there is sufficient ventilation to avoid the GPUs from getting heated up.
The software you require:
Install The operating system of your choice (Linux or Windows). Download Ethos the mining software specifically designed APP for Ethereum mining. It is a flexible mining system you can use for your rigs and manage them.
Solo mining or Pool mining
Solo mining means you are alone competing against the rest. You win block rewards only if your hash is right. You will have to download the blockchain yourself and chances of earning ether is a little slow here.
Pool Mining is a joint effort. You join hands with several other miners and you get ether every day. The payouts are done daily and your provider does the blockchain download.
All the components mentioned above are available at several retail outlets and online stores. The prices may vary from one vendor to another.