My Cryptocurrency Mining Journey
It all started one day when someone asked me to start researching blockchain technology and mining. I had bought a couple of AMD Graphics Cards and I decided to try my hand at mining ETH. At first, it was just a fun way to pass the time and earn a little extra money.
But as the price of ETH began to rise, I became more and more invested in the mining operation. I started buying new graphics cards and building more and more mining rigs. Before I knew it, I had a full-blown mining operation on my hands.
As my operation grew, so did the challenges. I had to constantly keep up with the latest mining technology and techniques, and I spent countless hours tinkering with my rigs to get the most out of them. But the rewards were worth it at the time.
I started in a small concrete shed with 2 A/C units to keep the GPUs at a desired temperature so they would not crash while mining ETH. Before I knew it, I ran out of power in this small shed. In this small shed, I was at a total of around 45 GPU’s between Nvidia and AMD branded graphics cards.
As my mining operation continued to grow, I began to encounter new challenges. The biggest one was power — I simply didn’t have enough of it to support all of the graphics cards I had acquired. I needed to find a solution fast, or our operation was at risk of grinding to a halt.
After doing some research, I realized that the only way to solve my power problem was to upgrade to a bigger building and add a transformer to provide enough electricity for all of my GPUs. It was a big investment, but I knew it was necessary if I wanted to keep the operation running smoothly.
I found a suitable building and had the transformer installed, and it was a game changer. Our mining operation was around 258 GPUs now, was able to run at full capacity once again, and the profits started rolling in. It was an incredible feeling to see all of my hard work and dedication paying off in such a big way. When we expanded into a bigger building (with 3 A/C units) we running into problems of managing the heat output of the GPUs so we decided to cut holes into walls of the building to try and filter the heat better.
I also investigated ways of replacing the “Thermal Pads” of the GPUs to reduce the internal memory temperature of the GPUs while mining. I eventually solved the problems dealing with heat by changing the “Thermal Pads” and filtering the air better.
At the peak of our operation, I was contributing a total of 18 G/Hs of hashing power to the ETH network. We were seeing profit levels of around $500 per day in ETH.
While we were expanding during 2021, we were taking a large risk that ETH GPU mining would come to an end and ETH would move to a POS (Proof of Stake) model. This eventually kept getting delayed by developers until recently in September 15, 2022, so we were able to keep continuing mining at the time with very high profits.
“The Merge” of ETH happened and all of GPU mining went south. We were lucky to have accumulated 100s of ETH and now are currently running ETH Validators on their Proof of Stake blockchain model.
Since, “The Merge” we have looked at different coins we could now mine with one of them being $FLUX. (I have a separate article dealing with $FLUX below) .
As of now, we are speculative mining and patiently waiting until 2025 when the crypto bull market will return.
However, many GPU miners have pivoted to a new POW (Proof-of-Work) currency called $KASPA.
$KASPA, a proof-of-work cryptocurrency that aims to address this issue through its energy-efficient design. Unlike many other cryptocurrencies that use a traditional chain of blocks for their blockchain, KASPA uses a blockDAG (directed acyclic graph) structure. This alternative approach may provide certain advantages, such as increased scalability and faster transaction speeds.
One potential benefit of KASPA’s energy-efficient design is that it may attract GPU miners looking to maximize their profits. In the highly competitive world of cryptocurrency mining, energy costs can make a significant difference in profitability. By minimizing the energy consumption of the mining process, KASPA may offer an attractive opportunity for miners to increase their profits because of the detrimental effects the ETH merge had on GPU mining.
Overall, all GPU miners and majority of ASIC miners will be put on a hold until this bear market get resolved in the next 2–3 years.
Until then, WE FILL OUR BAGS WITH COINS
