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The big advantage of the platform I’ll be showing you, minergate. For the purpose of this guide, we’re going to do a detailed walk-through of setting up Minergate and a Claymore miner. Monero is a strong coin that’s focused on privacy. It has a large following, and it seems to have some amazing price spikes periodically.
Diversification of your mining resources can be a very lucrative strategy as you wait for that specific coin’s price to spike to empty out some of your mining earnings. The whole process of downloading your miner, configuring things, and getting going should take less than 20 minutes. It’s a cheap way to slowly build up a holding position in Bitcoin. BTC can be easily sold for cash, so mining XMR can be a good way to indirectly fill up your bank account or earn cash. XMR can also be sold directly on some major exchanges. Mining can be a cheap entry ticket to the XMR market, as it’s loved by traders for its high volatility.
The Red Room
Ever since XMR got traction in the darknet markets in 2016, it’s been one of the highest-priced altcoins in the market. I deployed too many cards in a closed space once too! Finally, building a large XMR position now through mining may allow you to take advantage of price appreciation in the future—but with less risk than just buying. However, buying gear and mining cryptocurrency with it allows you to have an income-producing asset in the gear itself, with aftermarket resale values holding very well and even appreciating.
GPUs purchased for mining in 2015 and 2016 were often sold at a profit in 2017 due to such high demand in the market! So allowing your gear to earn money and selling that gear when your target is reached can potentially allow you to make your money back on the gear itself and pocket the crypto generated as profit. It’s a memory-hard algorithm, meaning it’s designed to resist the development of Monero-mining ASICs. Monero is deliberately best suited to CPU and GPU mining. Hash Rate, Difficulty, and Price Monero’s total network hash rate has been climbing rapidly since its launch in 4Q16. So if the amount of hardware dedicated to Monero mining is rising, why aren’t blocks being mined ever more rapidly, such that the average two-minute block time has decreased?
When is the Next Bubble?
By automatically adjusting the computational difficulty of solving a block, the Monero blockchain is able to maintain approximate two-minute block intervals. The next obvious question is why hash rate and difficulty have been rising in the first place. 40 USD in a few short months! Calculating Monero Mining Profitability Now that we have a clearer understanding of the Monero blockchain and important concepts like difficulty, it’s time to perform some economic calculations. 1 per day per GPU, depending on the model and configuration.
Keep in mind that AMD cards outperform Nvidia cards for Ethereum mining purposes on the Ethash algo, but AMD doesn’t beat Nvidia when it comes to the Equihash algo using the EWBF miner. A decent i5 or i7 CPU can still make you a small profit and get you in the crypto mining game! As with everything, do your own due diligence to evaluate GPUs based on their hash rates, power requirements, availability, and price. For a solid budget card, the AMD RX 570 with 4 GB of RAM, like this Sapphire Nitro GPU, is recommended.
We’re going to do a walkthrough of mining Monero on Windows 10, but note that you can also mine on Windows 7 or 8, as well as Linux and Mac. Get Your Video Card Drivers Installed AMD GPUs: Head over to amd. Enter your GPU information and click Display Results. Start Search, and download the current version from the results.
Install your GPU drivers like you normally would and reboot. Troubleshooting tip: Some miners have had success installing all GPUs at once and then installing the drivers. I’ve had success both ways, so if you run into an issue with one method, delete the drivers and try the other method. After receiving several complaints about the company we decided to review it personally.
Double Your Bitcoin
Register a Free Account at Minergate In order to easily mine with your CPU and GPUs, including laptops, you’ll need an account at Minergate. Click the Sign Up button at the top, and then set up your account with a valid email address and secure password. Download the Minergate Software The next step is to download the Minergate software. Run the downloaded file to install Minergate, and just click like you normally would through any other installation process. After the installation has completed, run the program, enter the email you registered with, and click on Start Mining. Next, click on Start Smart Mining—this option will look for the most profitable coin for you to mine and start you hashing! That’s it—it’s literally that easy to get mining with this easy-to-use platform.
See the process in full here. The above image shows CPU and GPU mining on a laptop with an old i7 2630 and integrated graphics. The below image shows a mining rig with a Celeron 1840 CPU and four RX 470s. Your performance with Minergate GUI smart mining will vary quite a bit based on the specs of your equipment.
Being able to mine with a click button GUI like this is amazing, as it lets almost anyone get started with mining without any fuss, . But we want to take it to the next level. Read on to see how you can maximize your Monero mining and increase your performance almost 2. The Minergate platform doesn’t conflict with the EWBF or Claymore miners, so you can dual-mine using Minergate to run your CPU and another miner to mine Ethereum, ZCash, etc. Go back to the Minergate Downloads page, scroll all the way down, and click on Alternative Miners. First, you don’t want your computer to go to sleep, as it will interrupt your mining. Go to your Power Settings and set it to Never Turn Off or Sleep.
To minimize the disruptions to your mining and settings, you may also want to disable Windows Updates. If you’re running Windows Defender or some other antivirus program, add an exclusion to it so that it doesn’t flag the entire Claymore miner folder and Windows doesn’t try to identify the Miner program as a virus or try to disable or delete it. Run the Miner Once you’ve completed your Windows tweaks, run the miner by double-clicking the . Claymore is a beast when it comes to AMD miners, and it has proven so time and again. The neat thing is running the Claymore miner in this fashion is still mining to your Minergate account, and you can run the Minergate GUI to mine on your CPU and run the Claymore GPU at the same time. When you’re logged in to Minergate, go to your Dashboard to monitor your active workers and see your overall mining progress.
Click on the Withdraw button to send the Monero you have mined to another Monero wallet or exchange. That’s it for this beginner’s guide to mining Monero on your PC! I hope you’ve found this guide useful. If you run into any issues or have any questions, please comment below, and we’ll try to help. If you are interested in taking your crypto mining to the next level from here, sign up at Crypto Mining Academy, where I go into massive depth and detail about every step of this process in a comprehensive course.
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In this second installment of our DIY Ethereum mining guide, we’ll look at how to install and configure Linux to setup your rig as an automated, remotely-manageable appliance. Don’t be dissuaded if you’ve never used Linux before—our step-by-step guide makes it simple! 100 on the operating system is a big plus when you’re trying to maximize profitability. Linux is perfectly happy running from a USB stick plugged into ancient hardware! If you missed the hardware portion of our guide, make sure to check it out first.
If you’re a bit nervous because you’ve a complete Linux newbie, don’t be. Simply follow the step-by-step instructions exactly as they’re written, and you’ll be fine. Step 1: Configure BIOS settings Before we even get to Linux, let’s take a minute to make sure that your mining computer’s BIOS settings are in order. You should end up in the BIOS configuration area.
Change power options so that the computer automatically turns itself on whenever power is restored. The reason for this is two-fold: first, it’ll make sure that your miner automatically starts up after a power outage. Second, it makes powering the computer on much easier if you don’t happen to have a power switch connected to the motherboard. Disable all components that you don’t plan to use. For me, that meant disabling onboard audio, one of the SATA controllers, the USB 3. Firewire port, and the serial port.
Exact tweaks vary by motherboard, but setting the PCIe speed to Gen1 is usually a good place to start. No need to change anything now, but make a mental note that you may need to come back and play around a bit if all of your GPUs don’t show up in the OS later. Step 2: Install Xubuntu Desktop on your miner Xubuntu is a lightweight version of Ubuntu, a popular Linux distribution. 3 is the latest LTS release at the time of this guide, so that is what I recommend you use. SATA controller if you disabled it in step 1!
When the installation is complete, you should automatically boot into the Xubuntu desktop. Make sure to remove your installation media. If you plan to manage your mining rig remotely over the internet, you’ll need to forward port 22 on your router to your miner. Make sure that you use a strong Xubuntu password! Putty session by simply right-clicking anywhere inside the Putty window.
I highly recommend that you complete the remainder of the guide in this manner, as it eliminates the risk of typos! Step 4: Install AMDGPU-PRO drivers Next up, we’ll install AMD’s video drivers. Some of these steps may take a minute or two to complete. Finally we need to enable large page support, which will dramatically improve mining performance.
Wait a few seconds to give the computer a chance to boot, and then re-establish a new connection via Putty, and re-login. Note: you may skip step 5 entirely if you already have an ethereum wallet address that you intend to use! Next up, we’ll install the Ethereum software that will let us create a new wallet address. We’ll need this to store the coins we receive from mining.
If you lose either of these, you’ve also lost control of your wallet and all of the coins associated with it—and there is literally nothing that anyone will be able to do to help you. If you forget your wallet address, you can type geth account list to see your addresses and the location of their key files. Step 6: Install Claymore’s Ethereum miner There are several options as far as mining software, and I’ve experimented with all of the popular ones. Genoil’s fork of the stock miner.
They’re both open-source and free, but they have pretty crippling downsides. The author abandoned development months ago, so improvements are unlikely. Downloads sudo apt install curl curl -L -o claymore_10. Then let’s head over to the installation directory and create a startup script. I’ve tried a few, and it seems to be a top pick, but feel free to pick your own pool.
Generate addresses with Pycoin KU
Now is a good time to test things. You can fire up your miner by typing: . You should see the Claymore miner start up. It’ll take a minute or two before it actually starts mining, but it should get there eventually.
C to exit the miner when you’re satisfied that it’s working. Step 7: Create auto-start scripts We’re almost done! We want to set up our rigs automatically start mining whenever the rig is powered on. That way, we keep mining losses to a minimum whenever a power outage occurs, and we don’t have to worry about manually starting it back up in other situations.
Xubuntu username for YOUR_XUBUNTU_USERNAME where necessary! 2 su YOUR_XUBUNTU_USERNAME -c “screen -dmS ethm . Creating an alias will make that easy. Save and quit out of nano. You’ll probably want to run a full test now. The easiest way to do that is to close your Putty session and power down your miner.
Your miner should boot into Xubuntu. 15 seconds after Xubuntu has loaded, the Claymore miner will automatically start and begin mining. You might notice the fans on your GPUs spin up a bit when this happens. You should be able to SSH into your miner at any time and type miner to monitor the miner’s process. Congratulations—you have your own headless linux ethereum miner! The next section of this guide covers setup under Windows, and then we’ll take a look at optimizing miner settings for better performance.
I used this guide a while back, then decided to go back to Windows. Windows crashed hard and never gave me better hash rates, so back to Ubuntu! Thanks so much for this guide and thanks for keeping it current! Forgetting that I was supposed to install XUbuntu, I installed Ubuntu 16. 0 but this driver is only compatible with 3. Thx for your great guideline, I can start mining following steps.