How to start mining Ethereum

How to start mining Ethereum

By Brooklyn | Crypto Bytes | 21 Feb 2021


During the bull market we are facing this year, it is becoming more and more profitable to start mining Ethereum. If you're not using the full power of your GPU, it is definitely worth thinking about putting it to work for you!

Requirements

Ethereum mining uses something known as a DAG file which is stored in your GPU memory. At time of writing, the DAG file is a little over 4gb, so you need at least that in dedicated VRAM to be able run any Ethereum miner. You can check the current DAG size at Minerstat.

But how do we start mining?

First you want to pick your miner software. I picked Ethminer because it is the easiest to setup and the miner itself takes no fees. You want to download the latest version of Ethminer here. Download the latest stable release for your OS and the highest version of CUDA your GPU can run. For example, I run ethminer-0.18.0-cuda10.0-windows-amd64.zip for my GTX 1060 on Windows, but it will depend on your setup.

bd5838f6a160641b56771a059a34a914876895ebdc322f99ac5b60b97a87fe8b.png

Once you have got the zip file, extract it anywhere you like as it is self contained, I opted to put it in the root of the C: drive. But you're not done yet, You need to write a script that contains your Ethereum address so that you can get paid. Create a file in notepad and paste the following

setx GPU_FORCE_64BIT_PTR 0

setx GPU_MAX_HEAP_SIZE 100

setx GPU_USE_SYNC_OBJECTS 1

setx GPU_MAX_ALLOC_PERCENT 100

setx GPU_SINGLE_ALLOC_PERCENT 100

ethminer.exe -P stratum1+tcp://{Address}.{Worker Name}@{Pool Address} -U -R

Replace Address with your Ethereum address starting with 0x, Replace the worker name with a handy identifier for your machine (e.g. 'Main' if you are only setting up one miner), And for the pool address you need to pick a pool that you can reliably connect to. I chose ethermine.org for my pool and found the closest pool of theirs to me geographically here.  So an example of a last line you might have would be

ethminer.exe -P stratum1+tcp://0xEA674fdDe714fd979de3EdF0F56AA9716B898ec8.main@eu1.ethermine.org:4444 -U -R 

Once you've created your file, save it as a .bat inside the same folder containing ethminer.exe e.g. start.bat. Then double clicking the bat file will start mining. (You can also create a shortcut by right clicking it and clicking send to desktop as shortcut)

If all has gone well, you should see the miner start to pick up jobs

Example of a miner

Monitoring and getting paid

Once the miner has started to produce "shares", which can take upwards of an hour or so. Your miner will appear on the ethermine.org website and you will be able to monitor how much your miner is mining. Visiting https://ethermine.org/miners/{EthereumAddress}/dashboard will show all the miners attached to your Ethereum address and how much Ethereum they are producing.

Ethermine Dashboard

Once you have reached enough Ethereum to meet the withdrawal minimum you will automatically be sent Ethereum by the pool. Currently you will automatically be paid every 2 weeks if you mine 0.01ETH, every week if you meet 0.05ETH and daily if you reach 0.1ETH.

Happy mining

How do you rate this article?


2

1


Crypto Bytes
Crypto Bytes

Byte sized information about cryptocurrency

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.