Mining profitability (earnings - expenses) changes all the time, and miners know that this is just a game of numbers. When income decreases, many of you start asking how to increase profitability. Let's see what you can do to achieve this.
There are 4 things you can do to increase profitability:
- Reduce power consumption
- Reduce the price of your electricity
- Use the mining rig as a heater
- Choose the most profitable miner
Reduced power consumption
For this you need a program MSI Afterburnerto limit power consumption. We recommend that you use a wattmeter to measure the actual power consumption, but this is not necessary.
- Connect your rig to electricity with a wattmeter and run it.
- Download and install MSI Afterburner.
- Start mining and write power consumption from wattmeter и current hashrate.
- Use MSI Afterburner to decrease parameter Power Limit up to 85% and again write down the power consumption and hash rate.
- Decrease parameter Power Limit by another 5%, up to 80%, and again write down the power consumption and hash rate.
- Carry on until you notice a drop in hash rate.
- Save your settings.
With this method, you should save from 20% to 30% on your electricity bills.
Reducing the price of your electricity
Everything is pretty simple here. Change your electricity provider.
Most people haven't changed their electricity provider for a long time. If you are a miner, it is recommended that you check local providers and send them a request. Compare the offer you received with that of your current provider and change the provider if you can find a cheaper one.
Even if you drop the price by 5%, that could mean a lot, and this could be the point where mining will still be profitable.
Using the mining rig as a heater
Most people in the Northern Hemisphere need heating for the next few months. Instead of using heaters to heat your home, you can use a mining rig and even make money while doing it, or at least pay less than using other types of electric heaters.
If you spend 80 € per month for heating, wouldn't it be better if you run a rig that earns about 80 € and pay 90 € for electricity? This means you only pay 10 € for heating.
Choosing the most profitable miner
Last but not least, you need to choose the most profitable miner to optimize your mining income. You can choose a miner by this link.