By night, also a software engineer. This guide is out of date. The custom hardware has made Sia GPU mining non-viable. This guide will still work, but you may never reach payout, even with a how many Bitcoins can I mine in one day with an NVIDIA GTX 670 graphics card?-end GPU.
Overview Sia is a decentralized, peer-to-peer network for buying and selling computer storage space. Users pay for transactions within Sia using a cryptocurrency called Siacoin. These miners are paid for their contributions in Siacoin. In this guide, I’ll show you how to generate money when you’re not using your Windows PC by setting it up to mine Siacoin.
Time Required This guide looks long, but it’s just because there are lots of screenshots. I estimate that it only takes about 20 minutes to get started with mining. Windows 7, Windows 8, Windows 8. R to open the run dialog. If you have an NVIDIA GPU, you will install CUDA. If you have an AMD GPU, you will install OpenCL.
If you see something else, you likely don’t have a compatible GPU. GPUs are available for your next build. Install GPU library In order to run a Siacoin miner, you must install the correct library for the mining software to communicate with your computer’s GPU. If you have an NVIDIA GPU, you’ll need to install CUDA. For AMD GPUs, skip to the next section. Click the version that corresponds to your version of Windows.
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Open the downloaded file and proceed through the installation using the default options. If you have an AMD GPU, you’ll need OpenCL. It may be installed already, as it is included with many AMD drivers, but to ensure you have the latest version, follow the steps below. Install a Siacoin miner There are a few different Siacoin miners to choose from, but they all offer similar features and performance. This guide uses the Marlin miner because it is compatible with both CUDA and OpenCL, but you might want to check out other mining options. Go to the Marlin miner download page. R to open the Windows run dialog.
This verifies that your GPU library is installed correctly and your miner is able to access it. All you need now is a Siacoin wallet and you’ll be ready to begin mining. Generate a Siacoin wallet In order to mine, you’ll need a Siacoin wallet to store the coins you earn. There are currently two main options for Siacoin wallets, which I describe below. The fastest way to create a Siacoin wallet is to use Bittrex, a cryptocurrency exchange.
Bittrex provides a web wallet, so you can create an account and generate a Siacoin wallet instantly. The downside is that you have to trust Bittrex to keep your Siacoin secure. There have not been any major security breaches at Bittrex that cost their customers money, but many other exchanges have had issues with this, and Bittrex is by no means immune. I recommend starting with Bittrex as you build familiarity with Siacoin and mining.
Once you become comfortable, create a wallet with Sia-UI, move your Siacoin from Bittrex to your Sia-UI wallet, and set your Sia-UI address as your new mining address. Create a new account and log in. From the upper right menu, click Wallets. Type siacoin in the search bar. You will see a pop-up window showing a long series of letters and numbers. This is your Siacoin wallet address.
Save this address and proceed to the Start mining step. Sia-UI – The better, but slower way If you created a wallet with Bittrex, you can skip this section. Sia-UI is Sia’s official Windows app. Click the link ending in -win32-x64.
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A Windows Firewall dialog will appear asking if you want to give Sia access. Set up Sia-UI wallet You’ll see a progress bar in the upper right corner that represents Sia-UI’s progress synchronizing your app with the rest of the Sia network. Sia-UI then displays your wallet seed. This is a series of words that gives you access to your Siacoin wallet. Either write it down on paper or save it to a text file.
Sia offers to let you choose a wallet password that is distinct from your wallet seed. For simplicity, leave the password as is so that it will match your seed. Important: You’ll need your wallet seed to access your wallet every time you start Sia-UI. If you lose your wallet seed, you can never recover the money inside your wallet. Important: Anyone who has your wallet seed controls your Siacoin balance. I have written these down in a safe place.
Because Sia-UI maintains a healthy skepticism of its users, the next screen challenges you to enter the wallet seed you just saved. At this point, Sia-UI will likely still be synchronizing with the rest of the network. Unfortunately, you can’t use your wallet until this process completes. It can take hours to days to get synchronized depending on your disk speed and network connection. 20 minutes, so check that out if you don’t feel like waiting.
Sia will now show your Siacoin receiving address labeled Mining revenues. Start mining You’re ready to start mining! Change YOUR SIACOIN WALLET ADDRESS to your own wallet address. Close the window to stop mining. I’ll go into more details about the Luxor mining pool below. You’ll notice that your system responds sluggishly while you’re running the miner. This is because mining consumes all available graphics resources, which makes it difficult for you to use your computer normally.
We’ll address this in the next section. Configure miner to run automatically You’re all set up and generating Siacoin, but there’s a problem: mining monopolizes your graphics processor and makes it difficult for you to do anything else on your computer. You could start the miner when you leave your computer and turn it off when you return, but that’s a pain. Instead, you can use a handy feature built in to Windows called Task Scheduler. It allows you to configure Siacoin mining like a screensaver – it runs when you’re away and automatically shuts off when you return. Configuring a scheduled task is a bit tedious. Type control schedtasks and hit Enter.
This will create a pre-populated task for you with the correct settings for your Siacoin miner. With this task created, your PC will mine Siacoin automatically any time you leave the mouse and keyboard untouched for ten minutes. As soon as you touch the mouse or keyboard, mining stops so as not to interfere with your normal usage. Using the mining pool Mining is a game of chance. Your machine is doing repeated calculations with random numbers hoping to discover a solution to an equation that the Siacoin network needs at the given moment. The computer that finds a solution receives a miner’s reward.
This guide configures your miner to participate in the Luxor mining pool to give you a more regular and predictable mining income stream. With a mining pool, all participants implicitly agree to share effort and share rewards proportionally. The Luxor mining pool takes a 0. When the unpaid balance for your wallet address reaches 500 Siacoin, the pool pays out your rewards. Within six hours, you will see a deposit in your wallet for a little over 500 Siacoin.
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Your experience will vary depending on the performance of your GPU, the percentage of time your miner is running, and the number of other active Siacoin miners. Cashing out your Siacoin Now that you’ve accumulated some Siacoin, you probably want a way of spending them. Bittrex has historically provided the most solid support for Siacoin. Just give them your Bitcoin address, and they’ll give you a Siacoin deposit address.
Unfortunately, their support for Siacoin is rather erratic and they only offer Siacoin exchanges intermittently. Trading is slower and involves more steps, but can give you better rates than traditional exchanges. Bisq also supports converting Siacoin directly to fiat, but you’re relying on another person not to rip you off. If you choose this option, take steps protect yourself from fraud. Poloniex: Poloniex was once the leading exchange for Siacoin, but their support and platform has been awful for most of 2017, frequently freezing users’ funds for weeks without any communication.
I recommend avoiding Poloniex if you have any other exchange option. Bitcoin has been around longer and the ecosystem is much more mature, so you have several options for cashing out your Bitcoins. Bitcoin exchanges are beyond the scope of this post, but here are a few places to start. A more comprehensive list is available at bitcoin. Siacoin mining hardware The tables below show estimated mining performance of different GPUs. These numbers are based on anonymous, self-reported data from a mix of systems, aggregated from Sia mining wikis.
For each GPU chip, I’ve provided an example GPU product that contains that chip, but the same GPU chip is generally available from a variety of manufacturers. I do not recommend buying a GPU for the express purpose of mining Siacoin. Your profits are determined by Siacoin’s market price and the number of other active miners on the network. These variables can change drastically at any time. If you’re buying a new GPU anyway, and you’re interested in Siacoin mining performance as a factor in your decision, the tables above can help you decide.
Heat: Siacoin mining adds considerable stress to your GPU and may reduce its lifetime. Monitor your GPU’s heat to make sure mining is not heating it to the point of damaging to your system. Taxes: Many jurisdictions consider cryptocurrency mining profits to be taxable income. If you convert to fiat through an exchange such as Coinbase or Gemini, they are legally required to share your financial information with tax authorities if requested. Electricity costs: Your GPU consumes more electricity when it is mining Siacoin than when it is doing less intensive tasks such as browsing Facebook. Be sure to take the cost of electricity into account when considering your mining profit.
Earning Siacoin by hosting Another way of earning Siacoin is by renting out your unused hard disk space. The Siacoin hosting economy hasn’t reached critical mass yet, and hosting is suited for more advanced users, but if you’re interested, I wrote a Guide to Hosting Sia on a Synology NAS. Troubleshooting Having trouble getting up and running? Here are some common issues readers have run into and how to fix them. Miner crashes immediately Symptoms: When you run marlin. This usually happens because the mining settings are too intense for your GPU. Change the intensity value to 1.
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If it succeeds, repeat these steps with increasing intensity until you find the highest intensity that is still stable. This can happen if the mining settings are too intense for your GPU. To fix this, follow the same steps for Miner crashes immediately. An update on my progress since going off to work on my own. A thank you and a follow-up about my plans. For the past four years, I’ve worked as a software developer at Google. It was because they refused to buy me a Christmas present.
Disclosure: This blog uses affiliate tags for some product links. This allows the blog to receive a commission when readers make purchases through these links. By night, also a software engineer. This guide is out of date. The custom hardware has made Sia GPU mining non-viable.
This guide will still work, but you may never reach payout, even with a high-end GPU. Overview Sia is a decentralized, peer-to-peer network for buying and selling computer storage space. Users pay for transactions within Sia using a cryptocurrency called Siacoin. These miners are paid for their contributions in Siacoin. In this guide, I’ll show you how to generate money when you’re not using your Windows PC by setting it up to mine Siacoin.
Time Required This guide looks long, but it’s just because there are lots of screenshots. I estimate that it only takes about 20 minutes to get started with mining. Windows 7, Windows 8, Windows 8. R to open the run dialog.
If you have an NVIDIA GPU, you will install CUDA. If you have an AMD GPU, you will install OpenCL. If you see something else, you likely don’t have a compatible GPU. GPUs are available for your next build. Install GPU library In order to run a Siacoin miner, you must install the correct library for the mining software to communicate with your computer’s GPU. If you have an NVIDIA GPU, you’ll need to install CUDA. For AMD GPUs, skip to the next section.