Crypto Mining Setup First Month Profits! How much did I make?
Why did you start selling mining farms? In the fall of 2018, Antminer S9 digs Bitcoin for $ 1.5 per day, and GTX 1070 produces ether for $ 0.4 at a cost of electricity of 3 rubles per 1 kW. This electricity price allows you to continue mining, but it is far from available for all regions. Some miners decide to increase their computing power by purchasing equipment on the secondary market. Most of them are mining, jumping to more profitable algorithms, but there are those who are forced to sell farms due to high tariffs, the presence of obsolete equipment or disappointment in mining as a business. How, then, is it profitable to get out of mining?
How to profitably sell GPU mining farms
During the gold rush, it is better to sell shovels than to dig yourself. The latest mining rush was most intense in November-December 2017. Sellers of video cards and ASICs at this time overstated the prices of their goods as much as possible and were not afraid to be left without demand. The conclusion is obvious and logical – it is profitable to sell when cryptocurrency rates are rapidly growing and mining income rises. Now the income of miners is small, there is no fever, and the consequences of the winter hype are on the face – Avito is filled with ads for the sale of mining farms. How to sell video cards if competition drives down the price? Here are some tips that will increase the attractiveness of your ad:
- Provide documents for equipment, including receipts and boxes. Not all sellers can fulfill this point and your video cards will already be preferable. The availability of documents will be appreciated even more when the mining law finally comes into force. Another plus is the possibility of free repairs subject to the conditions in the warranty card..
- Sell graphics cards before the warranty expires (usually 3 years). It is necessary to clarify that the warranty period of the video card during mining does not decrease, i.e. the service cannot refuse to repair due to the use of GPU for mining coins. The question immediately arises, where to put the old ASIC, the warranty period of which is only 9 months, but more on that later.
- The first announcement is to try to sell the farm for its intended purpose. Take a photo of a fully assembled farm with all the components of the rig: motherboard, risers, processor, power supplies, SSD, monitor emulator and case. Describe in detail each component, the hashrate of the mining farm using different algorithms and the manipulations performed with the BIOS of the video cards. You can offer free installation and setup of a mining farm. If the miners are not interested in the offer, proceed to the sale of equipment in parts.
- Submit several ads with different prices for several sites. If you fail to sell video cards as profitably as possible, you will have to settle for less lucrative offers. You should not be limited to Avito – there are a large number of specialized telegram channels for the purchase / sale of mining farms, social networks and other ad platforms. For example, Yula.
- Do not indicate that the equipment was involved in mining. Despite the fact that the video card was originally designed for high long-term loads, buyers often think that mining kills the video card and makes it completely unusable..
- It is advisable that the coolers do not stagger – this is the first thing that the buyer will pay attention to when inspecting.
- Change thermal grease or thermal pads.
- Install standard BIOS firmware.
- Test the video card and add screenshots of the core frequency, RAM, fan speed, GPU load, sensor temperatures, etc. For testing, the utility FurMark or AIDA 64 is suitable.
- Correctly write the title and description of the ad, taking into account search queries. Not all buyers go to Avito and look for suitable ads there. A huge number of interested people enter a query like «Buy a mining farm cheap» directly in the search engine. To get better indexing of your ad by search engines, take keywords from the Wordstat service..
- Do not repeat the same text and images in different ads – this is how scripts calculate «wrapping».
- Accounts should be started from different devices using different IP addresses, otherwise you can get banned.
- The photo must be in good quality, but without captions.
- Take advantage of paid ad promotion, placement in the TOP.
- Organization of bonuses for the buyer. For example, free fans or any other unnecessary equipment as a gift.
Even following all the rules will not help sell the GTX 1070 in October 2018 for $ 700-800, as it could have done in December 2017. In this regard, it is worth considering, is it really necessary to sell equipment now? What if you still manage to catch a wave of cryptocurrency fever? In addition, the update of video cards from Nvidia has already been released and will not greatly affect the market. New items from AMD are expected only in 2019. Until that time, the obsolescence of 10th generation video cards is not expected.
GPUs can be leased to various systems of artificial intelligence and training of neural networks, but it will not be possible to help out the monetary benefits.
What to do with the old ASIC
If the ASIC is unprofitable, then it can only be sold as a heater. Moreover, a very noisy heater. To eliminate noise, it is necessary to organize immersion cooling – then both the warm floor can be heated, and the heating system can be reorganized. But immersion cooling of ASICs is an expensive pleasure. The cost of a bath with a capacity of 6 devices with a heat exchanger, an internal circuit pump and a hydraulic piping starts from 50 000 rubles. Alternative use of ASICs has yet to be identified – the device is designed exclusively for calculating hashes.
You can profitably sell used ASICs only on the cryptocurrency hype.
An unusual way to get out of mining in a plus
You can profitably sell a mining farm using a lottery on a smart contract.
The point is that it will be possible to take part in the lottery with cheap tokens based on ERC 721. When the price of the sold tokens exceeds the declared price of the equipment, the lottery will be drawn automatically. It will be necessary to ensure the transparency of the drawing by line-by-line explanation of the smart contract. On the mining forums, there will certainly be those who want to get a cheap farm, and the declarer will get rid of the equipment at the price that he considers acceptable. The lottery can be organized without a smart contract, but it is more interesting and transparent with it.