Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
“Home mining is not dead.” How is mining at home?
Small mining farms have some advantages over industrial ones.
Against the background of the growth of bitcoin and the entire cryptocurrency market following in 2021, user interest in mining continues to grow, according to Google search queries. Only the owners of factories have the opportunity to mine cryptocurrency on an industrial scale, the rest have to be content with "home farms", but before that you need to figure out whether a bitcoin farm has a place at home.
Who is more powerful?
One modern gaming video card can bring the owner an income of $ 10 per day, which means that cryptocurrency mining at home is still not dead. In addition, it can outperform the "monopolists" in terms of payback, since there is no need for capital investments. A mining farm at home can pay off in 6-8 months, although their share in the total capacity system is extremely small. A single 50 MW data center is comparable to several thousand home businesses, and all industrial farms outperform millions of home businesses.
What mining device to choose?
The cheaper the electricity for mining, the more it will save, and therefore the more the mining farm will earn. Today, ASIC miners are more profitable in this regard due to their efficient ratio of computing power. GPUs, although more expensive, can easily switch between altcoins. From the point of view of experts, video cards allow small miners to approach the issue more professionally, if only they are managed correctly. To do this, it is desirable to use special services for calculating revenue and energy consumption. GPUs are also more profitable when sold on the secondary market.
What problems still need to be solved?
If you organize bitcoin mining at home, you will inevitably encounter noise levels and hot air. The problem is equally characteristic of video cards and ASICs. In addition, there will be a lot of dust, and electrical wiring in residential buildings will heat up from significant loads for which it is not intended. Given this, it is hardly possible to comfortably coexist next to a profitable farm. Practicing miners also note that doing this is very risky: get ready for forced out plugs and increased fire hazard. It is better to place all the equipment in specialized premises next to other miners. Companies specializing in renting out mining premises have equipped them with everything they need: strong electrical wiring, systems for hot and cold air circulation, as well as enhanced security. In addition to local mining services, there are international services from which you can rent a "place for asic" remotely and, if necessary, order devices home.
How much does mining cost today?
Video cards are now in great short supply due to the increased bitcoin, but let's assume that they are on free sale. Geforce RTX 2060 is the most popular of the new models of video cards that are suitable for mining. To organize a farm of eight devices, you need to make a purchase in the amount of 184 thousand hryvnias (one device costs about 23 thousand hryvnias). We also buy a frame, a motherboard, a power supply and RAM — for only 25,000 hryvnias. With the help of one of the calculators, we got a calculation for $8.02 profit per day with the current configuration, but, of course, this will depend on the cryptocurrency exchange rate and the complexity of mining.
What you should pay attention to when deciding on mining:
- Jumps in the rate and complexity of the mined cryptocurrencies;
- The need to reinvest and repurchase devices;
- Long payback period;
- Reasonably assess the situation and do not expect quick earnings without fully applied efforts.
Remind you How to mine on mobile?
