A total guide to what you should keep in mind when considering buying your own cryptocurrency mining equipment. (the post is continuously updated)
You do not want a machine that sounds over 90db in your living room. Especially not if you want a good relationship with those you live with.
Unlike a few years ago, home mining has become much easier. But what do you really need to think about when it comes to mining and which machines should you buy?
When it comes to mining "digging for your own coins", there are several different factors to keep in mind. It's everything from electricity consumption, spaces and above all sound levels.
do not underestimate small machines. Many small machines can build up your capital to buy more space so that you can invest in more bigger machines.
All equipment consumes power and depending on the type of machine determines how much power it consumes. Regardless, electricity consumption should not be the main contributing factor if you are going to start digging up your own coin.
Why does the electricity bill not play a major role when it comes to mining? Bitcoin fell to $ 3867 in February 2020. During this period, it did not matter what machine you had, everyone who mined bitcoin during this month lost money. And this is the risk of mining. Therefore, I recommend everyone that they learn about trading to get basic knowledge in how the market works and how you can make more money by selling your mined coins at the right time to be able to invest in more machines.
Space is one of the most important factors when it comes to mining. As the equipment gets hot when it is used, the room you have will be heated. The stronger the machine, the hotter it gets. So having your equipment in a room without ventilation will quickly turn the room into a more tropical environment where you can not stay.
The sound level is also something to keep in mind. Depending on the type of mine determines the space you can have your machine in. Like this, the stronger the machine the stronger the fans are needed! You do not want a machine that sounds over 90db in your living room. Especially not if you want a good relationship with those you live with.
Recommended spaces for larger machines (- + 70db)
Garage with good airflow.
Basement with good airflow.
Recommended spaces for smaller machines: (- + 30db)
Last but not least, what equipment should you buy?
This is a difficult question and the decisive factor is what space and capital you have. If you have a garage and capital to buy proper equipment, I recommend that you invest in slightly larger machines. If you have a lack of space and a lower budget, a smaller machine might be a better idéa.
However, the mining industry is developing rapidly and there are brand new hardware mining equipment all the time. Right now, hotspot mining and SSD mining are very popular. two alternatives that barely draw any power and are very profitable at the time of writing.