Getting Started with your First Mining Rig!
summary
Built a custom Ethereum rig (cheap motherboard, Pentium CPU, multiple GPUs) and runs Claymore miner with MSI Afterburner for undervolting/overclocking. Rig costs ≈ $1,800, delivers ~82 MH/s, draws ~0.465 kW, yields ~$4/day before power and about $1.69/day net in Singapore—ROI ~1,000–1,100 days. Cloud option example: Genesis Mining 5 TH for $45 returns ~$2/day (ROI ~393 days). Uses Ledger Nano S seed phrase + extra passphrase trick to protect large balances; demo rig nets ~$10 over conference days.
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chapters (35)
- 0:00Intro
- 0:29Agenda
- 4:21It's a Wild Ride
- 6:01Getting Cryptocurrencies
- 6:42Crypto Trading
- 7:08Buying Cryptocurrency
- 8:45Trustworthy Cloud Mining Companies
- 13:35Getting Started with Cloud Mining
- 14:44Calculating Cloud Mining Profitability
- 15:23Risks of Cloud Mining
- 18:41How easy it is to mine for Cryptocurrency?
- 19:25Crypto Hardware Mining
- 21:37Problems with ASIC Miners
- 23:14Benefits of GPU Miners
- 23:56Rewards for Miners
- 24:52Bitcoin Block Reward Halving Countdown
- 25:10How does a Miner earn $$$?
- 26:27Factors Affecting Your Earnings
- 26:54Current Ethereum Mining Difficulty
- 27:35Mining Ethereum
- 27:56Building a 3 GPU Rig
- 29:00Choosing the Right GPU
- 29:21Nvidia
- 30:14GPU Model Variations
- 33:08Overclocking Software
- 33:34Mining Software
- 34:06Distribution of Reward
- 35:20Calculating Ethereum Mining
- 37:10Storing your Cryptocurrencies
- 38:30What is a Crypto Wallet?
- 38:54Coinbase Cloud Wallet
- 42:01Desktop Wallet
- 45:04How It Works
- 48:05Initial Setup
- 50:46Adding Additional Passphrase - Extortion Protection
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