Internet speed required for mining?

Deimos

[H]ard|Gawd
Joined
Aug 10, 2004
Messages
1,036
Crypto is down big time and I'm seeing people near me offloading their mining rigs becuase it isn't profitable any more I guess.

I have access to (legit) free power. Our neighbor (a landfil) generates power from methane, and we have a free supply. One day they may get around to billing us, but short-medium term its unlikely, so mining would be 100% profit after seed money. I'm assuming power isn't 100% reliable as we have had outages out there so a decent UPS is on my list too.
I'm looking to buy a rig that would return around $7500 a year at the current return rate, so it would take a liittle over a year to get seed money back. If cryto recovers I guess this could improve.

The issue is that I only have access in a back shed on a farm. We have DSL 8Mb/s with maybe 256Kb/s upload on a good day, and I would also have to setup a wifi PtP link to the shed which has the free power. Is this enough internet for mining crypto? Is this a worthwhile exercise?
 

xenium

[H]ard|Gawd
Joined
Aug 15, 2006
Messages
1,921
Mining uses very, very little bandwidth. Latency is crutial though. Make sure the rigs have priority for data and shoot for sub 100ms ping to the pool. 256kb/s isn't much at all to work with, but the right SQM/QoS strategy should work fine.

Wifi is fine, just keep the AP away from the rigs a few feet or so to minimize EMI. Mining puts off a ton of EMI and can add a little unnecessary wifi latency (or a lot, depending on the AP/adapter type and location).
 

rhkcommander959

Limp Gawd
Joined
Mar 26, 2020
Messages
337
5hose people may be offloading due to prices being low, but ethereum is going proof of stake soon too so getting in now you may only get a couple months of decent mining, then have to mine some altcoins for much less $
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
20,301
I will sell you my rig.

Electricity jumped like 33%. I have it eunning just to keep the btc coming in but im not making money.
 

MrGuvernment

Fully [H]
Joined
Aug 3, 2004
Messages
20,870
5hose people may be offloading due to prices being low, but ethereum is going proof of stake soon too so getting in now you may only get a couple months of decent mining, then have to mine some altcoins for much less $
Soon, they hope, they have been saying "soon" for the last couple years...
But ya, by no means would I be dropping money into a mining rig, just buy some BTC while it is cheap or ETH and sit on it, going to make more money that way vs waiting a year and "hoping" you make your money back
 

Andrew_Carr

2[H]4U
Joined
Feb 26, 2005
Messages
2,670
I've run rigs off a cell modem before and they worked fine. I think I had 1% more stales than my home network. If you have free power I'd look into bitcoin ASICs. It'll cost the least to scale up probably and they're a lot easier to setup and manage than GPU rigs.
 
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