As many of you know, I do quite a bit of hustling on the side, whether it be reselling limited edition target clothes or using AdWords to get referrals. Today I’m gonna talk about mining ethereum. To give you the quick rundown, ethereum is a crypto currency like bitcoin that is worth some money. Exactly how much can be found here. You can generate Ethereum (or “Mine” it as they call it) with your computer, provided you have a sufficiently powerful desktop computer. If you do not have a gaming desktop, or you do not have the desire to acquire a sufficient graphics card for your desktop computer, then you should just stop reading here.
Still with me? Good. So it would be best if you have a Radeon RX470/480/570/580 graphics card as those are the best for mining Ethereum. If you want to get one right now, it will be hard, as miners are snatching them up left and right. If you have Nvidia GTX 1060/1070/1080/1080Ti, then you are also good to go, albeit at a small disadvantage compared to the efficient AMD cards.
If you are wondering how much money you will make, use this calculator . Use 22MH/s as a baseline AMD card hash rate and 19MH/s as a baseline for Nvidia cards.
Without further blabbering, here’s the guide to make some moolah on the side:
Step 1. Install the latest drivers if you are
using 570/580. Install driver 15.12 if you are using 470/480.
Step 2. Go download Ethereum-Wallet-win64-0-8-8.zip or Ethereum-Wallet-win32
-0-8-8.zip depending on if you are using win32 or 64.
Step 3. Set up your wallet and let the blockchain sync, check this video if
you are confused: link. Make sure
your C drive has sufficient space, 10 GB should be enough.
Step 4. Copy your wallet adress, should look like
Step 5. Go download Claymore Mining Software from here
You are going to be using that to actually mine your Ethereum. Extract it to
Step 6. For this guide we are going to be mining as a part of a “pool”, this
way you get paid more consistently versus trying your luck and mining a whole Ethereum by yourself, which could days or weeks depending on your luck. I’m gonna use nanopool as an example
but you can use others.
Step 7. Go to nanopool, click on “Quick Start”, click on “3.
Generate your config”, and fill it in like so using your info such as your
wallet address from step 5:
Step 9. Click “generate”, you will get a zip file, unzip it and put both files
in your Claymore miner folder and overwrite existing files.
Step 10. double click on start.bat in the claymore file and you should start
mining. Every time you see the following it means you mined successfully:
Payout is set to automatically deposit into your wallet at 0.2 ETH
Step 11: Check on your mining status by going to https://eth.nanopool.org/
Replace the above wallet address with your own.
Optional steps to increase money gain:
1. Change your minimum payout to 0.05 so you see your payout faster. Go to
your own page at Step 11, click “settings”, and then put in your email. Beware
that you can only change your min payout threshold after you mined a bit.
2. Your Hash rate is directly correlated to how much success you have. My
hash rate is at 29MH/s after modding my RX580. If you don’t mod it, you will
probably see 22MH/S. Nvidia cards will see a bit lower hash rates I think
BIOS modding your graphics card is another level of complexity that I’m not
gonna go over here.
3. Also if you mod your BIOs, you can reduce your power draw which saves on
Obviously if you live with your roommates, you are gonna be drawing way more power than them by mining every day, so you should probably talk to them about your electricity bill.