I am a contractor staying at a self contained apartment hotel.
I'm lodging for a number of months. Am I missing something fundamental to think I could set up a crypto mining rig?
Thank you.
Free Electricity - Can I Mine Crypto?
txb on 12/02/2024 - 10:01
Last edited 12/02/2024 - 10:42 by 1 other user
Last edited 12/02/2024 - 10:42 by 1 other user
Comments
You could but you'd need to consider:
- Heat
- Cost to start - buying equipment, etc
- Current low returns
- Terms of your lease
- Power available
If your apt. has a separate electricity meter you could get on helluva shock if they hit you for the extraordinary usage.
where's rektrading when you need his/her completely unbiased opinion?
On the moon or bankrupt
even though gpu prices have come down (as a result of most mining being not as profitable anymore) - you still need some considerable investment hardware wise first… and the know how. And even then iirc the returns are nowhere near as good as it was.
why not set up an ..indoor greenhouse instead :v
420 upvotes coming.
Why not setup an electric car recharging station?
/$Better yet, sell it back to the power station.
Seems a good way to get kicked out. They're going to notice the rising power bills the second you move in.
Don't bother, if you have to buy an ASIC it'll take months to repay it and if you're running your existing gaming rig you're just damaging it for very little return.
second
I don't think so
I was never into crypto…
Just wanted some information. I have my PC on a lot. usually it's on standby, though.
Wouldn't using an existing gaming rig be just like having a server running the whole time? What sort of damage would/could it end up doing?
The GPU is processing the entire time as part of mining, which means it is running more power through all the components of the card. It also means the GPU fans are spinning harder in order to cool the card (this is likely the first point of failure, and replacing fans sucks). While it's sensible to undervolt the card and limit how much mining it does, it's still not the best thing for the card. Any GPU has a lifespan and pushing more power through it is the quickest way to find out what that lifespan is.
A server is usually running at minimal power consumption and speeds up as necessary, but components deal with small amounts of power better than more. I leave my PC on all the time but the GPU fans turn off when the GPU isn't generating any heat and it draws very little power overall.
Thanks for the info. Much appreciated.
Any GPU has a lifespan
Any GPU or any card at all has a particular combination of individual components that will fail at some random point in time.The average failure rate is just that. A reel of resistors has an average failure rate for the population but that reel is made up of 10,000 individual components that have their own inherent failure just waiting to happen. Could be tomorrow, could be next century.
The main things that will kill any card are overstressing the card (i.e. overclocking) and heat. There is a point at which cooling doesn't matter and that is when you are pushing components to perform more operations per second (or nano-second) if you prefer than they are designed to handle. At that point you can cool all you like, the component is just speed limited and the harder you push the more errors will occur.
The harder you push the card beyond design limits the more you are stressing the card. The same thing potentially applies if you increase the duty cycle as @freefall101 suggests. Cards may be tested for increased duty cycle but I would have a really close look at the warranty and the specs for the card to get some warm feeling. I would imagine that GPU manufacturers are well aware that the use case for GPU's these days is a little bit beyond "graphics". Have no idea about crypto mining, I wonder if anyone here has experience in trying to get warranty support for a GPU that has failed within the warranty period having been used for crypto mining?
depends, if it has a lot of rooms, function center, pools, gym they wouldnt notice the power spike unless youre tripping fuses or have like 30 gpu's
lodging for a couple to a few months isnt enough to roi so unless he already has gear, its a waste of time. If he has a PC with useable GPU and already has a laptop, maybe speculative mining
Running a mining rig isnt free even if electricity doesn't cost you in particular.
It costs someone else who's footing the bill.
It also costs the earthIt costs someone else who's footing the bill.
It also costs the earthWelcome to capitalism
It also costs the earth
Ah the good ol' environmentally-angled crypto-bash…
Some would say FIAT has cost the earth much more than crypto has.
Some would say that crypto has actually helped the earth in terms of energy usage (some mining in the US is run utilising gas that would otherwise be released/flared)I could find you some references, but tbh I'm not that invested in it all (I hodl no crypto) and also cbf.
Cost and depreciation on any of the current mining rigs makes it complete waste of money for you and you landlord.
lol
Am I missing something fundamental to think I could set up a crypto mining rig?
A moral compass.
Are you taking the mickey or is there something actually morally wrong?
I presume morally wrong due to abusing the "free" electricity? Usually arrangements like that are based around "fair use": hotels don't typically charge for electricity since they're not expecting it to be much. OP would be abusing that with running crypto miners. Hence morally wrong, or at the very least dubious. Certainly doesn't pass the sniff test.
ahh. got it. I was just wondering about the ethics of the crypto mining. Thanks!
Sye put it fairly succinctly.
I have decided to implement Sye's alternative and run a massive charging hose out of the (presumed) high floor window I will live in and charge all the electric zoomies.
You need to be thinking of venting the hot air and how to deal with fan noise then it will only be profitable. For such small scale I wouldn't bother, unless it's year 2009-2010.
staying at a self contained apartment hotel …
Am I missing something fundamental
Yes, NOISE and heat …
And don't forget the NOISE factor.
NOISE too could be a real bitch.
Being a self contained unit I'll guess cleaning and linen is included? What will cleaners see. Daily ? ??
Iridium is more lucrative…