Remember any form of investing comes with significant risks. Why are we mining Chia? Well, because graphics cards are hard to get at a fair price, but still, we can get a lot of hard drives. If you look at the calculator they have posted online, you can make about $12 per month per one TB (terabyte). We don't actually know if this is accurate because there is still no listings of it (UPDATE: check current price). Currently, we will have to see exactly what the exchange rate is going to be. Because as you can see here, the exchange rate is they are projecting it to be around $20. So for the coin, which could be true or could not be true, it could be worth a dollar. On the other side, you may check futures prices on Hotbit here. Just keep in mind that they do not represent the final price.
And if that's the case that we're only going to be making a dollar per terabyte a month, and who knows what the launch price will be at, so enter at your own risk.
Why are we choosing Chia over File Coin?
Well, that's because if we can get in at the base of something that has just started before the exchange change rates hit. Plus, getting into something like File Coin requires a lot more infrastructure right off the bat to start with. The competition is heavy that along with some issues that they've had in the past, so just stick with the Chia is not a bad idea. The Сhia coin also is being founded by Bram Cohen, the inventor of the BitTorrent network and it uses Proof of Space and Time, which is quite new on the market.
As for the rig, let's get into the parts that we chose and why. A more detailed article on SSD & HDD - here.
Chia Mining Rig Specs for Plotting (Updated)
- AMD Ryzen 9 3900X - here.
- 2x32Gb HyperX DDR4 3200Mhz (128GB in total for multi-plotting simultaneously) - here.
- 4x Inland Platinum 2TB M.2 SSD or Sabrent 2TB Rocket NVMe PCIe M.2 2280 (RAID-0 for temp / making plots)- here.
- ASUS TUF Gaming X570-PLUS- here.
- ASUS Hyper M.2 v4 or Sabrent NVMe M.2 SSD to PCIe - here.
- Samsung 870 evo SSD 250gb or SAMSUNG 970 EVO Plus SSD 500GB (for Ubuntu / OS) - here.
- 4x Seagate Exos X16 HDD 16TB (plotting HDDs) - here.
- Sabrent USB 3.2 5-Bay 3.5" SATA Hard Drive Tray-Less Docking Station (for long-term storing plots) - here.
This will produce like 21 parallel plotting or 4TB of deployed farms a day. While you have your 4x16TB HHD finished move them to a cheap storage rig (or connect to existing GPU-rigs) and start plotting fresh 4x16T. In total, you'll need like 100Tb of farms to dig 1 coin a day. You make check actual numbers as for today by yourself at https://www.chiaexplorer.com.
And then all you're doing is the plotting which is pretty straightforward. Especially now, that they added an easy-installed .dev file on the website or the Chia GitHub to just download and run through the installer. And are doing this because we want to essentially have a dedicated reg that is plotting all the time and working on some scripts and stuff like that. Make sure you already have network storage set up. Make plots and start farming. As easy as it gets. So, hope to see Chia on a rise after listing on top markets.
One of Our Chia Mining Rig Sold Recently
2x Intel XEON Six Core E5-2620
96Gb Ram DDR3 ECC 1600mhz
96Tb 12x HDD WD Red Pro/Plus 8Tb
2x PSU 495W
RAID PERC H710