In this beginner’s guide to mining cryptocurrency, I discuss how to build a mining rig in 2021. I also discuss how to mine Ethereium using Nicehash, which is currently the easiest way to mine crypto.
I am new to crypto mining so this will be the first time I have attempted building a mining rig. The mining rig that I am building with has 6 x GPUs and hopefully will have a combined hash rate of around 180 MH/s if I can overclock each GPU to achieve 30 MH/s.
The parts you need to build a crypto mining rig are as follows:
• Motherboard
• CPU, Heatsink & Fan
• GPUs (usually multiple)
• Wi-fi (if wired LAN isn’t possible)
• PCIe Risers
• Power Switch
• PSU’s (Power Supply Units capable of powering all of the GPU’s)
• RAM (At least 8GB of DDR4)
• SSD
• Chassis
Mining rates can fluctuate, however, if the average reward is around £5 per card (£30 per day) then it will take just over 100 days for this setup to break even.
Although Bitcoin is the largest cryptocurrency, I plan to mine Etheruem in 2021 as it appears to offer the highest mining rewards. I will probably avoid mining meme coins such as Dogecoin as I want to mine cryptocurrencies that will perform well long term.
Do you currently mine cryptocurrency? Which is better, Bitcoin, Ethereum or Dogecoin? Let us know in the comments below.