Welcome to the last post of 2017, and no surprise but today I will speak about increased Ethereum (and Siacoin) mining profitability by overclocking GPU cards.
Those of you following my blog lately already know - in December I decided to build 12 GPU mining rig and ordered goodies from Amazon. In total spending about $1,147. The total investment right now covers just the core minimum - motherboard, power supply, PCI risers, RAM, processor and just 2 graphics cards.
At the start, I ordered just one graphics card from Amazon, but while still waiting for equipment to arrive I decided to set up a test environment at one of our office spare computers and installed a cheap Radeon RX 560 card.
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The first result with RX 560 card gave me about $0.98 profit daily, see: I'm Making $0.98 Per Day By Mining Ethereum and Siacoin, and I want MORE!
I was pretty happy with results I got from this card, though felt kind of surprised seeing hashing power just about 10 MH/s - it didn't sound good (as I have read that others are getting about 14 MH/s out of this card). Anyhow, as I was (and still am) new to mining, I decided to leave it as it is, not touching clocks, memory size e.t.c.
Now, I what I was looking for was a decent about 22.5 MH/s hashing power from the EVGA 1060 GTX 6 GB card, but felt very poor seeing just 14MH/s out of the box - I was able to increase daily profit from about a dollar to two and a half dollars, but this time it seemed wrong, see: I'm Making $2.44 Per Day By Dual Mining Ethereum and Siacoin, and I'm NOT HAPPY YET!
Both cards combined gave me really modest 24.5 MH/s hashing power (instead of 36 MH/s). I left mining rig to work for a couple of days, meanwhile watching a dozen of YouTube videos, reading countless forum topics on overclocking. And finally yesterday I applied my newly generated knowledge and was able to increase total hashing power to about 29-30MH/s
| Hashing Power | Mined Coins | Exchange Rates | Earnings | ||||||||
| GPU | ETH | SC | Invested | ETH | SC | ETH | SC | ETH | SC | Total | How many days |
| 2 | 28.29 | 179 | $1,147 | 0.0036256 | 3.7 | $704.16 | $0.03 | $2.55 | $0.11 | $2.66 | 430.5 |
Now, there are few things I should mention.
- Currency exchange rates - since my previous test price for ETH has dipped from about $770 to $704
- Despite ETH has lost some value against USD in the past couple of days, the total income has increased.
- I learned that I could get more hashing power with single coin mining, instead of dual coin mining, and the results were actually quite satisfactory, from both cards I was getting about 31 MH/s single mining ETH only.
- For some reason overclocking worked only for GTX 1060 card, RX 560 was not affected at all, probably the reason it is so - I'm running mixed AMD + NVIDIA rig.
From the positive I should add, that the total ROI has decreased from 468 days to 430 days - a very nice 38 day gain with simple overclocking.
Now, the ROI and ETH exchange rates are the things that worry me the most (now) - to be in the safe side I would love to see ROI in 365 days or better 10 months.
With current mining power, that would ask ETH to be valued at $836 to get investment back in 365 days or about $1,025 for ROI in 10 months.
Now, I don't dare to say it loud, but OK, I will say - I believe Ethereum reaching $2,000 by the end of 2018.