I need advice about setting up a mining rig and renting its processor to make some extra cash.

I read online that you could rent out your PC’s processing power to crypto miners and make some extra money. I looked further into it and the way you make some actual money is by having a rig or two if you don’t want to turn into a full on farm.

I would like to by one rig and see how it goes but I don’t know much about how it works and I know my wife will have questions before investing a couple thousand dollars in a rig.

The online post I read suggested a mining rig with an Intel Celeron G3930 processor and 8X AMD RX 5700 GPU. Aside from that I don’t know much else.

Can someone walk me through how that this whole thing would work? What are the pitfalls, what should I know? Is there a better community to post this to and ask for advice?

Thanks for your time.

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17 thoughts on “I need advice about setting up a mining rig and renting its processor to make some extra cash.”

  1. You can’t rent your processor for cheaper than Amazon, nor can you scale as quickly as Amazon. Why would someone go to you rather than Amazon or Google or Microsoft?!

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  2. Long story short: Your hardware is too little for the trouble of mining. Any sort of mining. If you’re looking for a passive way to earn Crypto, then look into Staking instead. There are too many cryptocurrencies that could be staked and too many methods, but the best bang for your buck right now is to buy and hold “liquid staking tokens” such as Rocketpool ETH or Wrapped stETH.

    Happy to elaborate if you wish.

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  3. Why should someone pay you more than you could do with this hardware? This whole cloud mining thing is mostly a scam.

    Either its profitable at your location or not – this is basically only depending on your electricity costs. Renting it out doesn’t change anything about that.

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  4. GPU mining won’t be profitable for most people once the Ethereum merge happens, a situation which may last for months, years, or forever. If you don’t think the merge will happen, or you don’t care about mining at a loss, or you have free power, then dive in.

    I personally think the Ethereum merge is likely going to happen this year.

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  5. You could rent your gpu (and maybe cpu too) using vast.ai. They say that it pays better than mining crypto, but I don’t know exact numbers. I have used their service (bought some gpu hours) for some AI stuff and at least that works very well and it’s pretty easy to use. Also it’s very cost effective for quick testing and stuff like that

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  6. I would personally wait a month or 2 before jumping into mining, and see how mining is after the merge, and also graphic cards prices are dropping everyday so the more you wait the better the outcome can be.

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  7. The best bet to find a good answer would be on r/gpumining but I can tell you that you most likely wont make back your investment for over a year or two and you would make more mining for yourself.

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  8. Golem supports renting out computing power (CPU & GPU), or you can use Akash to host applications for money. The latter requires more commitments, but you will be able to grow a reliable revenue stream if all goes well.

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  9. GPU mining is a very very risky gamble right now.. the future of the industry is uncertain as fuck. I would focus on trying to get a lower end ASIC if you want to get into mining.

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