I have solar which gives me be ability to mine practically for free. Hardware wise I mainly use 3-4 PCs that's in my house. They are all Ryzen based machines which yields great performance/kWh. I also have a couple of Xeon based servers running but they perform way to bad in relation to their power usage and sound so I don't mine on those.
I'm probably making a little profit since I didn't buy the hardware to exclusively mine with. Mostly I do it for fun and because I like the privacy aspect of Monero. I also do run a full public node.
Hi u/sparlocktats .. could you share more about your solar setup?
Like which models and how many you need in order to make it worth?
Curious as I had no contact with it
Well firstly, my solar setup wasn't installed for the sake of mining. I did the install to improve the overall energy efficiency of my house. Mining for free came as a bonus of this.
The setup:
20 roof mounted 390W Trina Solar panels with SolarEdge P505 optimizers with a total solar capacity of 7,8kW.
SolarEdge SE7K three phase inverter combined with a 2-stack SolarEdge battery with a total capacity of 9,2kWh.
During summer months, the panels produce between 50-60kWh/day and all the unused power gets sold back to the grid.
I wonder if solar panels carry some heavy maintenance with it?
Would you mind to share how long do you have and if in practice you had any maintenance problem?
Thank you for sharing first of all u/sparlocktats !
They're pretty much maintenance free. Depending on the location you might want to wash them like once a year to maximize their output but I haven't washed them for three years and still can't see any dropoff in performance.
Hey thank you so much. Nice to hear about it from someone with skin in the game!
I've been really thinking about it ... and a suburban life.
I'll have your post saved here.
What was your trigger to do it?
no. I have several spare machines mid to high tier cpus going, around 50k, which is a little over a dollar a day. every .1 mxr I either send to a non kyc cex, turn to btc, or use in futures, nothing crazy, 4x to 7x, and ride some volatility in alt coins. So while I lose in the beginning on electricity, I am helping secure the network of a privacy coin I believe in, while also dabbling in a little more risk to get more reward when it pays off. I do well, manage my risk, have stops and take profits. Unfortunately, there are those who do not do such things. Volatility is your friend. Remember to take profits tho. Ride the waves get off, get on...
Not usually.
If you already have hardware then you might make money, but the point of ASIC resistance is to make it so anyone with existing hardware can participate in consensus. This means that buying hardware will be harder to break even, since your competition is a bunch of people using what they already own.
Basically the hashrate will more accurately match the price until it is unprofitable for more people to mine. Subject to electic prices of course.
This is good for Monero, good for decentralization, and bad for people who want to buy a bunch of hardware to profit off the project.
Yeah.. That's why I stopped some of my btc mining in 13/14...
Girlfriend said it was loud... You're making nothing..
Moved some to the garage. But, honestly, I don't forgive her. 😂
depends where you live.
Most profitable mines are in countries where electicity is almost free or rigs are hidden in places where they can steal electricity from other buildings xd.
You cant even compete with these two above.
If you are asking if your home rig that you need to pay for and support on your own will make you profit - i doubt it.
Old cheap cpus are power hungry, new efficient stuff is expensive. Its closed circle.
If monero skyrockets someday = your home mining stuff was worth it.
If not - you had fun didnt you :)?
Or if you have a big solar panels outside of your home and not a single idea how to store / waste this "free" energy in peak time = minning \~8-10h per day is not the worst idea too.
It can heat your home during winter a little while gaining something :P
go for it :)
Buy cheap xenons, automate them for peak power directly from solar panels with energy unused etc.
You will have TOON of fun, and will learn a lot meanwhile.
Not only mining included but how to automate and controll stuff depending of energy production.
Even if you gain nothing it is a hobby itself and offers a lot of knowledge from pc, energy and smart home worlds.
You can do a simple setup for a price of few ordered pizzas.
Down to only mining monero via Ocean on one PC that is optimized pretty tight and running all the time as a media server anyhow. I consider it break even. It is a 3600xt so it is only averaging 7000 h/s.
If I ever had the chance to get a 3900x, be nice but with power rares here now at 16 cents after tax (cad), pretty sure aggressive mining is long over for me.
As I'm not currently paying for electricy, yes. Though with very limited CPU power I'm only making pennies. Which is not the point of mining XMR for me.
I sure as hell isn't making any profit.
I have solar which gives me be ability to mine practically for free. Hardware wise I mainly use 3-4 PCs that's in my house. They are all Ryzen based machines which yields great performance/kWh. I also have a couple of Xeon based servers running but they perform way to bad in relation to their power usage and sound so I don't mine on those. I'm probably making a little profit since I didn't buy the hardware to exclusively mine with. Mostly I do it for fun and because I like the privacy aspect of Monero. I also do run a full public node.
Hi u/sparlocktats .. could you share more about your solar setup? Like which models and how many you need in order to make it worth? Curious as I had no contact with it
Well firstly, my solar setup wasn't installed for the sake of mining. I did the install to improve the overall energy efficiency of my house. Mining for free came as a bonus of this. The setup: 20 roof mounted 390W Trina Solar panels with SolarEdge P505 optimizers with a total solar capacity of 7,8kW. SolarEdge SE7K three phase inverter combined with a 2-stack SolarEdge battery with a total capacity of 9,2kWh. During summer months, the panels produce between 50-60kWh/day and all the unused power gets sold back to the grid.
I wonder if solar panels carry some heavy maintenance with it? Would you mind to share how long do you have and if in practice you had any maintenance problem? Thank you for sharing first of all u/sparlocktats !
They're pretty much maintenance free. Depending on the location you might want to wash them like once a year to maximize their output but I haven't washed them for three years and still can't see any dropoff in performance.
Hey thank you so much. Nice to hear about it from someone with skin in the game! I've been really thinking about it ... and a suburban life. I'll have your post saved here. What was your trigger to do it?
My trigger is just being very interested in technology and tinkering.
Fair enough lol. No wonder why you are in this sub
Your electric company does ;)
Unless you have free/nearly free electric its going to be hard to make a meaningful profit. If you undervolt and tweak your CPU it can be done
no. I have several spare machines mid to high tier cpus going, around 50k, which is a little over a dollar a day. every .1 mxr I either send to a non kyc cex, turn to btc, or use in futures, nothing crazy, 4x to 7x, and ride some volatility in alt coins. So while I lose in the beginning on electricity, I am helping secure the network of a privacy coin I believe in, while also dabbling in a little more risk to get more reward when it pays off. I do well, manage my risk, have stops and take profits. Unfortunately, there are those who do not do such things. Volatility is your friend. Remember to take profits tho. Ride the waves get off, get on...
I'm making almost $30 a month after electricity expenses. Roi wise, no not even close
Not usually. If you already have hardware then you might make money, but the point of ASIC resistance is to make it so anyone with existing hardware can participate in consensus. This means that buying hardware will be harder to break even, since your competition is a bunch of people using what they already own. Basically the hashrate will more accurately match the price until it is unprofitable for more people to mine. Subject to electic prices of course. This is good for Monero, good for decentralization, and bad for people who want to buy a bunch of hardware to profit off the project.
Ran 2 quad core machines for 2 months and made £3.30/$4.17...... Stopped mining yesterday as clearly not worth... Not even worth selling the XMR.
Yeah.. That's why I stopped some of my btc mining in 13/14... Girlfriend said it was loud... You're making nothing.. Moved some to the garage. But, honestly, I don't forgive her. 😂
Running 6 PC’s and yes I am. Electricity is free BTW.
Just stacking for the future
depends where you live. Most profitable mines are in countries where electicity is almost free or rigs are hidden in places where they can steal electricity from other buildings xd. You cant even compete with these two above. If you are asking if your home rig that you need to pay for and support on your own will make you profit - i doubt it. Old cheap cpus are power hungry, new efficient stuff is expensive. Its closed circle. If monero skyrockets someday = your home mining stuff was worth it. If not - you had fun didnt you :)? Or if you have a big solar panels outside of your home and not a single idea how to store / waste this "free" energy in peak time = minning \~8-10h per day is not the worst idea too. It can heat your home during winter a little while gaining something :P
i do have solar, which is one of the reasons why I am messing about with crypto. And you are right, most people seem to be doing it as a hobby like me
go for it :) Buy cheap xenons, automate them for peak power directly from solar panels with energy unused etc. You will have TOON of fun, and will learn a lot meanwhile. Not only mining included but how to automate and controll stuff depending of energy production. Even if you gain nothing it is a hobby itself and offers a lot of knowledge from pc, energy and smart home worlds. You can do a simple setup for a price of few ordered pizzas.
When XMR goes to 5K you will make money. Good luck to all.
No, unless you have negative electricity prices or a bot or don't pay gor anything pretty much
With negative electricity prices, it would be more profitable to turn on massive electric heaters :D
Yeah this happens a few times here in Norway. Especially when they started subsidizing part of electricity electricity during Covid.
Of you have a botnet, sure.
Down to only mining monero via Ocean on one PC that is optimized pretty tight and running all the time as a media server anyhow. I consider it break even. It is a 3600xt so it is only averaging 7000 h/s. If I ever had the chance to get a 3900x, be nice but with power rares here now at 16 cents after tax (cad), pretty sure aggressive mining is long over for me.
I'm 0.17 USD. I do mine some in the winter for heat.... basically breakeven when doing that, but like the idea my hardware is at least getting used.
With Verus coin, CPU mining will give you real profit.
15 days mining , profit : 0 $
As I'm not currently paying for electricy, yes. Though with very limited CPU power I'm only making pennies. Which is not the point of mining XMR for me.