Ethereum (ETH) has become more appealing in 2020, with prices rising above $270. Mining has also picked up, awarding 2 ETH each 15 seconds, or 8 ETH per minute.
Ethash Still Accessible to Home-Based Mining Rigs
In 2020, the Ethash algorithm is still amenable to home-based mining, and it is possible to build a rig and compete for block rewards.
An Ethereum mining rig is best built using GPU. Currently, there are specialized rigs with about 200 million hashes per second. However, the Ethereum community favors a potential hard fork to disable any Ethash-optimized ASIC.
Would you support a hard fork that obsceletes ETH ASICs? (Just wondering, this is not a proposal)
— Vlad (–support-dao-fork) Zamfir (@VladZamfir) March 28, 2018
Thus, it is safer to still use GPU, which is more agile and in a cinch, can be directed at new networks. Yet, some GPUs are optimized and achieve better performance with Ethash. At-home mining necessarily uses consumer electricity, which may affect profitability. However, mining is also a risky game and in cases of rising market prices for ETH, it may have a more significant payout further down the line.
How to Build an Ethereum Mining Rig
Building up sufficient hashing power is a matter of connecting more GPUs to achieve the rig’s final setup. Currently, AMD Radeon VII is the most powerful card, producing 90 MH/s, with ProgPoW reaching 30 MH/s. Combining several video cards will quickly raise the price of the rig, as the AMD Radeon VII retails for above $500.
Building a rig also requires side components, including a power supply, a CPU, LAN components, as well as a physical crate for holding and ventilating as many GPUs as desired.