Mining is a function of mathematics in many ways. While your mining team helps to crush the hash generation mathematics, in turn, it generates the need for another type of calculation: measure the energy consumption of your equipment.
Most miners are embarrassed when they finally count the costs of feeding their platforms, after skimping on this side of the equation all the time. Electricity is often the third largest expense of a miner, after computer components and rental costs. You do not want to miscalculate your profit margin or even taxes for not correctly accounting for the energy consumption of your mining platform.
Ways to monitor the energy consumption of your mining platform
To this day, computer hardware does not have the capacity of work with built-in devices. However, there is installable software that can take approximate readings of energy consumption.
Gauges for electricians
As the name implies, this product was not initially designed to serve in cryptocurrency mining. Therefore, it is easy to read the energy consumption of several mining platforms using clamp meters, since it is not necessary to plug in and unplug the meter at each turn.
However, the meter has a disadvantage: in the long term, despite its portability, it harms regular monitoring.
Online electric monitors
Kill-a-Watt models of online electricity monitors are perfect if your mining foray is limited to a single mining platform. You can get accurate readings simply by plugging the monitor into a plug and plugging the mining platform into the monitor. In addition to providing accurate meter readings on demand, this type of electricity monitor offers projections for the use of electricity for various periods of time for transmission planning.
Online electricity monitors provide estimates for daily, weekly, monthly and even future annual consumption. However, the electrician-type clamp meter has the advantage of being more flexible than the electric on-line monitor. There is no way to take readings from multiple platforms with an online meter without interrupting mining on the platforms that are being monitored.
Electricity monitors connected to the Internet
These smart plugs are simple solutions for remote monitoring. These monitors, which can be controlled from a smartphone, come with a number of impressive features that can be operated remotely, including booting and rebooting. This can come as a great instrumentation especially if your mining equipment doubles, crashes and needs to be rebooted while you are away.
However, smart plugs are susceptible to noticeable failures. But there are some products that come with highly reliable functionalities that overcome this vulnerability.
It is imperative to know the speed at which each of the components of your mining platform consumes electricity. Your graphics card is obviously the heaviest consumer of energy. Below are the GPUs, followed by the base construction, which includes the motherboard, CPU, PSU and RAM. If you can reduce the electricity consumption of your graphics card, either by undervoltage or otherwise, you can significantly reduce the consumption of all the equipment. There are also ways to reduce the consumption rate of the GPU.
You may be happy to see these reductions accompanied by an increase in the hash rate of your mining. In fact, you do not lose in any way when you minimize the energy consumption of your mining platform. However, to do this and other important things, you need to have a reliable instrument to first measure your equipment’s power consumption.