Mining Ether (Ethereum, ETH) in 2021
- Created: Monday, 11 January 2021 02:32
At the turn of 2020 - 2021, we once again observe an increased interest in cryptocurrencies from investors and miners, which is why the cost of cryptocurrencies breaks new records, and the profitability of mining cryptocurrencies also brings in excess of income to owners of ASICs and mining rigs on video cards. The most profitable cryptocurrency for GPU mining will remain Ethereum (Ethereum), or Ether for short. On exchanges, Ether can be found by the ticker ETH. If you have just started to get involved in cryptocurrency mining or have left mining for a long time and decided to refresh your knowledge in this matter, then our further guide on mining ether on video cards will be just for you.
How to start mining ether in 2021
1. The first thing you need is, of course, mining equipment: video cards. motherboard, processor, memory, SSD or flash drive, power supply and risers.
If you are a beginner miner, we recommend that you familiarize yourself with the following materials.
How to correctly assemble a mining rig for mining ether, read the following article:
For an example of how to correctly calculate the payback of mining on video cards, see the following guide:
See the current hash rate of all modern video cards on air here:
You can more clearly compare the hash rate of video cards on the website Profit-mine.com, here you can also calculate the payback of video cards.
Important: A video card for Ethereum mining in 2021 must have at least 5Gb of video memory, because The DAG file loaded into the memory of video cards is over 4GB. AMD Radeon RX470/RX480/RX570/RX580 video cards with 4Gb video memory available on the secondary market are not suitable for mining ETH!
The next step is choosing the operating system for your mining rig. We recommend using HiveOS or RaveOS. For those who use only one video card in their work or home computer, there is no point in installing specialized operating systems. all the same can be done on Windows. For more information about choosing an operating system for mining, read here:
3. After assembling the mining rig and installing the operating system on it, you need to decide on the software for Ethereum mining or, more simply, choose a miner.
There are many different programs for mining Ethereum:
All of the above miners are already built into HiveOS and RaveOS, you just need to select them in the settings. For miners using Windows, you need to download the miner you like yourself and create a so-called BAT file with settings, through which the Ether mining program will be launched. A versatile and well-performing miner for all types of AMD and Nvidia video cards is the Phoenix Miner. Claymore`s Ethereum Dual Miner, previously popular for mining Ethereum, does not support a DAG file larger than 4Gb, and therefore it is now impossible to use it for Ethereum mining.
NiceHash service is worth noting, because it is not just a pool, but an automatic pool that itself switches mining to more profitable algorithms and changes all mined cryptocurrencies into Bitcoin.
4 To set up a miner, you must first select a pool for Ethereum mining. It is advisable to choose pools from the top ten by hash rate. A list of such pools can be found here:
5 The next step is to create an Ether wallet, to which the ether extracted from the pool will be transferred. There are two options here. the first is to install your own wallet on a computer or smartphone, suitable for those who want to store ether for a long time or register on the exchange, where you can quickly and safely exchange for ether for bitcoin, rubles, dollars and other currencies and withdraw them to your bank card. The most popular exchange with the ability to withdraw to a bank card at the moment is Binance.com.
You can choose a wallet to install on a smartphone or computer on the official website Ethereum.org
6. When you know the pool and wallet, you can start setting up the BAT file or flight sheets in Hive OS.
Example BAT file for Phoenix miner and Ethermine pool
|PhoenixMiner.exe -pool ssl://eu1.ethermine.org:5555 -pool2 ssl://us1.ethermine.org:5555 -wal 0xb0AAf2169f677D4BA289F14AE3AE06f3C2861b0e.Rig001
Here you only need to replace the Ethereum wallet (0xb0AAf2169f677D4BA289F14AE3AE06f3C2861b0e) with your own and come up with the name of the rig after the dot, here it is listed as Rig001. These are the settings for Windows.
In Hive OS and Rave OS, if you have configured everything correctly, then all data will be substituted automatically, you just need to start the Ethereum mining process.