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SilasBarta comments on General Bitcoin discussion thread (May 2011) - Less Wrong
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Just to toot my own horn: I finally got my liquid-cooled mining rig set up. Picture and details here.
I'm curious, what are the economics on making bitcoins? How much did it cost to build your rigs and how much do you (expect) to make?
Pre-liquid cooling, This rig was $1800 (though it could only use 2 of the GPUs so if I had only bought 2 it would be $1300). With the liquid cooling, it comes to about $2600. Right now (given current exchange rate and difficulty) it will generate about $40/day, and I've already generated $650 worth of BTC as valued at the current exchangge rate (which pays for more than two of the cards after deducting for electricity).
The difficutly will increase, but the exchange rate tends to go up with it, canceling this effect. After about 50 more days I'll be profitable (though if you count the value of the hardware, my profits have already outpaced depreciation, so I'm profitable in that sense).
If I had gone with just two cards, and kept it aircooled and running during my down-time, it would probably have already paid for itself.
Do you know why the ATI boards perform better? Nvidia has devoted more transistors and R&D to their GPGPU functions. Has no one coded directly to CUDA?
I don't know. It's always been a mystery to me. People have been surprised that I prefer ATI for parallel computing since, "Nvidia is so much better at it". (You probably looked, but the mining hardware comparison ATI consistently better as well.)