Friday, June 24, 2022

Quick Start Guide to GPU Ethereum Mining

Quick Start Guide to GPU Ethereum Mining

Cryptocurrencies are digital assets aimed at replacing the world’s fiat currencies, while making transactions secure and hassle-free. Ethereum is one of those cryptocurrency platforms. It’s a network comprised of nodes (basically miners), designed for running smart contracts. It features its own protocol and decentralized blockchain. The cryptocurrency token that it offers is called “ether” or ETH.

Also read: What Are ‘Altcoins’? Are They Better Than Bitcoin?

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This article has been designed to get you started with GPU mining ether as fast as possible. For this purpose, the content has been made as concise as possible, so you don’t get bored. Without further ado, let’s get started.

Ingredients for Ethereum Mining

To get started with GPU Ethereum mining, all you need is:

  • Source code/Binaries for the CLI (Command Line Interface) of one of the implementations of the ethereum protocol: While there are many implementations of the Ethereum protocol, like pyethereum (python), go-ethereum (Golang), c++-ethereum (C++), ethereumj (Java) etc., I’ll be using go-ethereum for demonstration purposes, as this is supposed to be a quickstart guide. The CLI for go-ethereum is geth. The binary for windows/tarballs for linux or MacOS version of geth can be downloaded here.
  • Mining software: Again, there are many options available here, like claymore and ethminer. I’ll be using ethminer for demonstration purposes.
  • A mining pool of your choice: There are many mining pools out there but beware, they have different payout structures and might also steal your precious coins from you. So instead of recommending any of them, I’ll leave it to you to decide. Personally, I’ll be using dwarfpool for demonstration purposes.
  • An ETH wallet: There are many out there. I suggest that you use a search engine to find out the best one that suits your needs. Do remember that they are susceptible to hacks, so choose the one that you trust the most. That’s it. These are all you need to get started. Next, I’ll show how to use these tools.

Getting Started

Follow these steps, in order:

1. First you need to download the binary for geth, from the link mentioned in the previous section.

2. Then install it.

3. After that, you need to create an account. Open up the command prompt (cmd) and issue the following command:
geth account new

4. You will be prompted to enter a password and you must remember it.

5. After that, issue the following command:
geth --rpc --cache=1024 --syncmode=“light”

6. This will sync the ethereum blockchain. You need to wait until you start seeing ‘count=1’. Alternatively, you could match the current block number here. Once done, your Ethereum blockchain is fully synced.

Ethereum Mining

Troubleshooting Tip: If you get stuck somewhere, don’t panic. Just wait for a while and let geth do its stuff. For example, have a look at this screenshot:

As you can see, the timestamps marked in red have a considerable difference. The yellow circle shows that sometimes a few block headers may be ignored. So don’t always rely on “count=1”. Match the current block number to be sure. Finally, the timestamps marked in blue represent the ideal case and you should be good to go now. Also, do note that the block synchronization took some time to start after the http endpoint was opened.

7. After you’re done, download ethminer using this link.

8. After extracting the binary from the zip file, open up the command prompt (cmd) navigate to the folder that contains ethminer.exe.

Ethereum Mining

9. Now issue the following command:

10. In the previous point, YOUR_WALLET_ADDRESS should be replaced by the public address of the wallet where you’d like to store Ethereum.

11. The WORKER_ID can be any random string, that you’d like to identify your machine with.

12. And finally, YOUR_EMAIL_ADDRESS should be your email address.

13. After a while the output should look like this:

Ethereum Mining

14. Congrats! You just became the newest member of the Ethereum mining community. Now what? You can also monitor the status of your worker here. Just enter your wallet address in the ‘worker stats’ section and that’s it.

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Images via Ethereum, Utkarsh Anand

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