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If you are not new to the crypto universe, you will already know that mining is the process through which computer power is used to solve a complex mathematical puzzle, review and verify transaction information, and create a new block so that the information can be added to the blockchain.
Well, anyone who wants to become a cryptocurrency miner will sooner or later have to deal with setting up their own mining rig.
So, if you have never heard of it and don’t know what it is for, you will learn below what a mining rig is and what is its importance in cryptocurrency mining. Let’s get to it.
What is a mining rig: definition
Mining rigs are mining platforms that have one or more computers designed for the mining process.
Mining aims to keep the blockchain of the different cryptocurrencies up and running and safe from potential attacks.
When it comes to mining cryptocurrencies, you need a lot of computing power and electricity to be able to earn the rewards and mining rigs allow you to do the job faster than other computers and can earn more.
Types of mining rigs
Depending on the type of mining hardware they use, mining rigs can be classified into 3 types:
- CPU: CPU mining rigs are very simple and cheap equipment and are often used by users who want to mine cryptocurrencies directly from their own computer. CPU mining is very expensive and increasingly obsolete and represents a big disadvantage in terms of electricity costs. For those who want to try to mine cryptocurrencies with CPU and do not want to invest a lot, they will have to download some programs on their PC before starting to mine.
The advantage of this type of mining is that it does not require high equipment or electricity costs.
The disadvantage is that it is the slowest form of mining, has a low hash rate and, because of this, is very unprofitable.
Although CPU mining is not advised, there are several altcoins that do allow easy CPU mining.
- GPU: GPU mining rigs are the best for those who want to set up their own mining platform. This is the most popular and favorite mining method among miners.
GPU mining equipment uses very powerful graphics cards with high hashing power. There are dedicated or simple GPUs (desktop PCs used for example for video games as they usually have very powerful graphics cards).
Generally, to get the best results, you should use the maximum amount of GPU available. But, even if you have simpler equipment, the results are not long in coming and are noticeable. The only disadvantage is that they are quite expensive and require maintenance, cooling and a lot of electricity.
- ASIC: the word ASIC stands for: Application Specific Integrated Circuits). These are special devices designed to mine certain types of cryptocurrencies.
They are also the most widely used devices for cryptocurrency mining, as they promise good profits. However, they are not the most environmentally friendly and cheapest solution.
These are the three most popular types of mining rigs in the crypto ecosystem and, as we have seen, GPU rigs are the most popular, followed by ASICs and CPUs.
How does a mining rig work?
A mining rig operates using mining software, which is necessary to connect the mining hardware to a given mining pool .
Before participating in the process of completing transactions on the network, the mining rig notes the hash rate of the platform in the mining pool of which it is a part.
What components do you need to assemble your own Mining Rig?
If you want to set up your own mining rig and start your mining activity, you will need to purchase the following components:
- Motherboard : you will need a powerful motherboard that can run for a long time and maximize costs and benefits.
- Power supply: Normally mining rigs are known for consuming a lot of power. It is therefore advisable to find a power supply with a power rating between 750 watts and 2000 watts, depending on your needs.
- Graphics cards: Ideally, you should have a minimum of 4 and up to 6 high quality GPUs, each with speeds of 450 450 kWh or higher.
- RAM: you need at least 4 GB of RAM, although you may need to add more RAM depending on the software you use.
- The vertical cables are used to connect the graphics cards to the motherboard.
- Hard disk between 60 GB and 120 GB.
- A fan to provide additional cooling.
- A special mining case to keep the components in place.
As we have seen, a Mining Rig is a necessary investment to make if you want to generate extra income by mining cryptocurrencies.
So, if you want to become a mining crack, just assemble your mining rig, put it in a ventilated place and start it up!
Your mining platform is ready to mine cryptocurrencies.