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 LATEST TOPICS |  FORUMS » VIDEO CARDS » BITCOIN MINING ON A 7990...
Subject: Bitcoin Mining on a 7990
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I Got 6 Strings Apr 20, 2013 07:03 AM Reply | Bookmark
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So a 7970 gets approx 700Mhash/s mining, would that mean the 7990 would get around 1400Mhash/s?
2 in crossfire would get nearly 3Ghash/s?
The cost would be about $1600-1800.
Would that be a good investment?
Not able to make a purchase now but in a few months I expect a good chunk of change coming my way.
I have been considering one of the BFL asic boxes but with an expected delivery date of August at the earliest for new orders it might be more profitable to go the GPU route.

My other alternative is buying a whack of used 6870s and loading up mobos with them. At $100ea per 280 mhash/s they are a good buy. Only issue is I'd need a mobo that supports multiple gpus at x16 and more power.

So far at current price I've made $20USD worth in bitcoin mining this week for 8hrs a day over night with a 6870.

Topic URL: http://forums.ncix.com/forums/topic.php?id=2604192

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Grnfinger Apr 20, 2013 07:45 AM Reply | Bookmark
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my 5970 y 950/1200 will beat out a pair of 5870's..so I would have to say your going to be close with that guess.

As for good investment... coins have been as low as 3 bucks and as high as 78 so it all depends. I say if you dont pay hydro grab some cheaper cards and make them buy the 7990 for you.

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DJZ Apr 20, 2013 07:53 AM Reply | Bookmark
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They went up to $250 I think, which means that a bunch of people will start to buy expensive AMD graphics card and the market may get flooded.

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I Got 6 Strings Apr 20, 2013 07:59 AM Reply | Bookmark
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Coins topped out at $250 about 10 days ago. Holding steady between $100-120 right now.
I do plan on grabbing whatever cheaper cards I can get my hands on in the meantime. I can cram 2 more 6870s(2 x16 1 x8) in my main rig and my htpc can take 3 more(2 at 8x and 1 at 4x) but would require a PSU upgrade.

Cooling is something I have to find a solution for. My current 6870 hits 70'c easy after a few hours. I have to find a way to bring that down. I removed the shroud. I have 8x 120mm in my case but they don't seem to have much affect on the gpu. Tried replacing the stock fan with a 92mm noctua but I don't think it has enough rpms/cfm to make a difference as its actually a few degrees hotter than with the stock fan. I have a arctic s1 passive cooler that I can mount some fans on that is great but it takes up 3 slots easy.

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I Got 6 Strings Apr 20, 2013 08:01 AM Reply | Bookmark
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https://mtgox.com/
The main bitcoin exchange

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Hotshot Apr 20, 2013 08:03 AM Reply | Bookmark
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My none OC'ed 7970 runs at about 500 Mhashes. A tweaked 7970 can probably safely give you 600. At 700 its probably an OC with 1200 clock speed with the video card in a dedicated PC used only for mining.

Here is a list of hardware comparison:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

My 500 mhashes is done at stock OC and using these flags "-v -w128 -f130". The -f130 allows me to play 1080p video without any issues.

Quote: (I Got 6 Strings @ Apr 20 2013, 07:03 AM)

2 in crossfire would get nearly 3Ghash/s?

Id estimate closer to 2.5 Ghashes with tweaking.

Quote: (I Got 6 Strings @ Apr 20 2013, 07:03 AM)

Would that be a good investment?

Who knows. Depends on the price of bitcoin and how much you pay for electricity.

Quote: (I Got 6 Strings @ Apr 20 2013, 07:03 AM)

My other alternative is buying a whack of used 6870s and loading up mobos with them.

If you pay for electricity and have lots of mobos already, the 7790 might be a good choice. Its apparently the most cost effective miner per watt (released on march). If you do not pay for electricity and have limited mobo slots then getting 7950 and OC'ed them to 500 Mhashes is a good option. When you look at purchasing a video card you should also considered resale value in a few years (another reason why the 7950 is usually recommended).

Quote: (I Got 6 Strings @ Apr 20 2013, 07:03 AM)

So far at current price I've made $20USD worth in bitcoin mining this week for 8hrs a day over night with a 6870.


You do know the difficulty went up a few days ago right? I think it now takes 2 times longer to make the same amount of bitcoins. With all the asics the difficultly will also double up again in the relatively near future..

bottom line: Know what you are getting into before you buy a few 7990.

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d2frm Apr 20, 2013 08:36 AM Reply | Bookmark
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Quote: (I Got 6 Strings @ Apr 20 2013, 07:03 AM)

So a 7970 gets approx 700Mhash/s mining, would that mean the 7990 would get around 1400Mhash/s?
2 in crossfire would get nearly 3Ghash/s?
The cost would be about $1600-1800.
Would that be a good investment?
Not able to make a purchase now but in a few months I expect a good chunk of change coming my way.
I have been considering one of the BFL asic boxes but with an expected delivery date of August at the earliest for new orders it might be more profitable to go the GPU route.

My other alternative is buying a whack of used 6870s and loading up mobos with them. At $100ea per 280 mhash/s they are a good buy. Only issue is I'd need a mobo that supports multiple gpus at x16 and more power.

So far at current price I've made $20USD worth in bitcoin mining this week for 8hrs a day over night with a 6870.

In other words, since the difficulty of bitcoin mining is a moving target, the goal posts have already moved by the time you have your dedicated bitcoin mining machine up and running. At best you'll break even and make a small amount of dough. At worst it's a money sink.

You could have made a lot more money short-selling Apple stocks than buying cheap AMD GPUs and turning them en masse into bitcoin miners.

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-=Maximum=- Apr 20, 2013 08:48 AM Reply | Bookmark
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Like other have said, with the ASIC machines getting more popular and the difficulty going up, it's not really worth it to mine bitcoin with a GPU anymore.

If you really want to mine using your gpu, you should try your luck with other cryptocurrencies, like Litecoins.

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AEO Apr 20, 2013 09:17 AM Reply | Bookmark
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yeah, GPU mining is not worth it, if your intention is to earn back the money you've paid for it.

However, if you are running bitcoin to recuperate some of the costs you paid for your computer that you use for everything else, then it's not terrible.

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I Got 6 Strings Apr 20, 2013 12:17 PM Reply | Bookmark
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Basically I'd like to break about even but end up owning a boat load of awesome hardware.
I am considering purchasing an ASIC miner as well but with an August delivery date if I order now it feels like I'll be missing out on a good bit of mining until then.

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Jeff_F Apr 20, 2013 03:51 PM Reply | Bookmark
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WTF is bitcoin mining? I have crossfire 7970's....can I do it t?

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Raw Milk Apr 20, 2013 03:53 PM Reply | Bookmark
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Lol it sounds like a farmville game

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DJZ Apr 20, 2013 04:06 PM Reply | Bookmark
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It's like folding at home except it tries to find bitcoins which are worth a variable amount of money.

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Jeff_F Apr 20, 2013 04:59 PM Reply | Bookmark
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Can it be profitable or are we talking like $50 a month?

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Danny_R Apr 20, 2013 05:22 PM Reply | Bookmark
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If you have beasty hardware, you can make 500 a day, but be prepare to spend tons.

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Cheakamus Apr 20, 2013 05:30 PM Reply | Bookmark
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http://www.businessinsider.com/what-is-bitcoin-infographic-2013-4

bitcoin explained in graphics

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Sir Nerdalot Apr 20, 2013 05:59 PM Reply | Bookmark
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I looked into bitcoins last week or so and got it all loaded up and ready to roll just to see what it was all about. From what I can gather, like others have said, the time for GPUs has passed and it would be more profitable to buy/sell bitcoins than try and mine them.

The thought of running my 2 6950 hairdryers on a 24 hour basis quickly changed my mind (Never mind when summer comes around)

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I Got 6 Strings Apr 20, 2013 06:36 PM Reply | Bookmark
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Using aftermarket coolers helps with noise/heat.
I put my Arctic Cooling S1 Plus back on my 6870 and its whisper quiet now and at 60'c. Nearly -15'C from what it was before and I can overclock with much more stability now. I zip tied a 120mm fan from my superclock cooler to it to keep it cool.


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hlidskialf Apr 20, 2013 09:30 PM Reply | Bookmark
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A question for those that Mine, do you consider it an investment or do you cashout/spend your Bitcoins? Seems like it's difficult to find some way to convert  your BT to cash that doesn't feel like a scam. Just curious, cheers.

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Hotshot Apr 20, 2013 09:39 PM Reply | Bookmark
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Quote: (hlidskialf @ Apr 20 2013, 09:30 PM)

A question for those that Mine, do you consider it an investment or do you cashout/spend your Bitcoins? Seems like it's difficult to find some way to convert  your BT to cash that doesn't feel like a scam. Just curious, cheers.


I got my video card more or less as an upgrade (570 to 7970) that came with 5 games. Mining was just a bonus.

I used to trade my coins for rain forest gift cards. Worked extremely and insanely well. But that site is now down. These days I think ill either just use mtgox or ill find a site that accepts bitcoins as a payment.

As others have said, lite coin is also a good alternative now (that I may soon switch into).

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I Got 6 Strings Apr 21, 2013 02:22 AM Reply | Bookmark
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I am interested in litecoin as well but I can't get the damn thing to work on my machine. It just hangs with cant find device IDs error. Tried multiple clients.

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Jeff_F Apr 21, 2013 11:43 AM Reply | Bookmark
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What about internet useage? Is mining going to have Shaw breathing down my neck.

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Lance W Apr 21, 2013 12:26 PM Reply | Bookmark
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Quote: (Jeff_F @ Apr 21 2013, 11:43 AM)

What about internet useage? Is mining going to have Shaw breathing down my neck.


Minimal. You could mine with dial-up speeds.

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Hotshot Apr 21, 2013 12:27 PM Reply | Bookmark
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Before you pay electricity you should be able to make $50 a month per 7970 without much problem (depends on price of bitcoins tho).

I do not see why shaw would ever care if you bitcoin mine...

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Gratton Apr 21, 2013 01:10 PM Reply | Bookmark
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let's say money is not an issue for my wallet.

If i'd rent IBM Sequoia, Cray Titan or on a budget the IBM Roadrunner for let's say... 48 hours of operation mining bitcoins.

Would i create  a currency crash?

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Jeff_F Apr 21, 2013 02:18 PM Reply | Bookmark
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Ok, so I'm mining solo right now. Getting 450 khash/s (whatever that means), but my GPU isn't sweating at all. Temps are at 26C and its running at complete idle, same with CPU.

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I Got 6 Strings Apr 21, 2013 02:49 PM Reply | Bookmark
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Jeff, You won't get squat unless you join a pool. If temps are good OC a bit too.
You would probably find litecoin better at this time. Try netcodepool.org and get set up with litecoin rather than bitcoin. Its only worth $2.50 a coin right now but you should be able to mine nearly a coin a day with your setup.

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I Got 6 Strings Apr 21, 2013 02:51 PM Reply | Bookmark
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Just noticed you said khash, which means your gpu isnt running at all. Under the device drop  down menu select  it. Seems like you are running cpu only right now.

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Lance W Apr 21, 2013 03:01 PM Reply | Bookmark
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Quote: (Gratton @ Apr 21 2013, 01:10 PM)

If i'd rent IBM Sequoia, Cray Titan or on a budget the IBM Roadrunner for let's say... 48 hours of operation mining bitcoins.

Would i create  a currency crash?


Of the three, only the Cray Titan would be a viable mining machine but it still wouldn't put a dent in the total network hashing power (which is currently around 74 TH/s) bc Nvidia GPUs aren't very good at mining.

In fact, if you owned a machine that mined at the same rate as the entire network you'd still only mine around 7200 BTC in 48 hours which isn't enough to crash anything IMO. There is 11 million BTC out there.

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Hotshot Apr 21, 2013 03:02 PM Reply | Bookmark
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Quote: (Gratton @ Apr 21 2013, 01:10 PM)

let's say money is not an issue for my wallet.

If i'd rent IBM Sequoia, Cray Titan or on a budget the IBM Roadrunner for let's say... 48 hours of operation mining bitcoins.

Would i create  a currency crash?


No. Remember this
CPU is about 2-4 mhashes per core
7970 is about 500-600 mhashes
ASIC is about 60000 mhashes per second (tho some offer pre orders for some who can do over 1 million mhashes)

My quick calculations show titan supercomputer would do about 2-4 million mhashes only.

Besides, extra miners wont crash anything. The more miner the harder it comes to mine and make money, but the better it is for people using bitcoins.

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