If you’re seriously thinking about mining your own cryptocurrency, you’ll need to invest in some serious hardware.
In this post we take a look at an Ethereum Rig, including what it is, where you can buy one, or if you are technically savvy, how you can build one yourself.
For those that are completely new to the topic… Ethereum is an open-source, public, Blockchain-based distributed computing platform featuring smart contract functionality.
Ethereum Mining can be simply understood as solving the problems in this platform by coming out with secure and reliable solutions. In the process of mining, you can get in to the platform with your account and collect ethers – ETH, cryptocurrency units.
(See Ethereum explained in more detail here)
What is an Ethereum Rig?
An Ethereum Rig can be broadly described as the computer infrastructure (hardware, software, and network) set-up to carry-out Ethereum Mining.
Ethereum Mining requires heavy and intensive computational power by way of computer processing power, memory power, storage capacity, electricity etc., simply, the Ethereum Rig provides this power.
If you are interested in doing Ethereum Mining yourself, well, you need an Ethereum Rig set-up in one way or other.
Just to make it clear, ethereum mining hardware is required only for those who are doing mining themselves; it is not necessary for Ethereum investors. An easy way for investing in Ethereum is buying it through online exchange.
Once you have your rig, you can decide whether to mine on your own, or to collaborate with other people in an ethereum mining pool.
Further, using an ethereum mining calculator will help you to understand how profitable your chosen approach will be.
Getting an Ethereum Rig
We can get hold of a rig either by:
- buying it as a rig with hardware and or software components
- or choose to buy computer hardware parts like processor, CPU, graphic processor power/ GPU, RAM etc., assemble them and install software as required
- or even go for a Ethereum cloud mining service.
Mind that the choice of hardware and Ethereum Rig plays a crucial role in Ethereum Profitability. The major cost for us to do Ethereum Mining is the cost of rig and running cost of electricity power.
Ethereum Mining Rig Components
The major components of a typical Ethereum Rig are:
- MotherBoard / CPU – process and allow parts to communicate
- Graphics Card / GPU – process the PoS Proof-of-Stake algorithm
- Storage (HDD/SSD) – store the Blockchain and verified transactions
- Memory (RAM) – provide program working memory
- Power Supply (PSU) – provide power to the rig and its part
Online resource for reference: How to build an Ethereum mining rig
Final thought: Ethereum Rig
Ethereum Mining is a time and energy intensive work undertaken by enterprising geeks, coders/programmers or by anyone interested.
Many miners consider it to be more stimulating and rewarding htat simply investing in Ether.
The right Ethereum Rig plays a major part in realising and maximising the rewards. A careful study is required to decide on suitable Ethereum Rig that can enhance Ethereum Profitability. This article has thrown some light on Ethereum Mining in general and Ethereum Rigs in particular. There are other things you may want to consider, such as whether you will store your coins online, or on an ethereum hardware wallet.