How to Mine Ethereum and Get Paid in Monero (XMR)
Port: 11024
Miner: MicroBT Whatsminer M20S specifications
GPU: 1 evga-geforce-rtx-3080–10-gb-ftw3
Also, I’m not a technologically adept person. I’m able follow directions and make things work. Sometimes all we require is a little part of code or clarified explanation.
If you’re here, you’ve probably learned how to utilize the graphics card(GPU) for mining Ethereum as well as your processing unit (CPU) in order to create Monero (XMR). I’ll leave it at that since there are millions of articles that cover basic mining. This article assumes you have an Monero Wallet of some kind (NOT an Exchange Address). If not have one, it is possible to download your Monero Wallet at getmonero.org or you can use the Exodus Wallet.
A few mining companies (this instance is based on T-gid allow users to mine one coin and then get paid with another. This is not dual-mining (two coins being mined simultaneously). It is about pointing your GPU to the Monero pool, and mining Ethereum and getting paid in Monero.
There are basic instructions on t-gid.blogspot.com/ which you can read here:
__________________________________________________
To mine Ethereum via the MoneroOcean pool, you need to:
Use pool address gulf.moneroocean.stream:11024
Make use of the XMR bank account as your user name (XMRWALLET)
Add ~ethash at the end of your password, like gpu_miner_name~ethash
Use nicehash stratum mining mode
For instance:
gminer: miner.exe — server gulf.moneroocean.stream:11024 — user XMRWALLET — pass gpu_miner_name~ethash — algo ethash — proto stratum
TRM: teamredminer.exe -a ethash -o stratum+tcp://gulf.moneroocean.stream:11024 -u XMRWALLET -p gpu_miner_name~ethash — eth_stratum_mode=nicehash
Phoenix: PhoenixMiner.exe -pool stratum+tcp://gulf.moneroocean.stream:11024 -wal XMRWALLET -pass gpu_miner_name~ethash -proto 4
________________________________________
They now show three instances of the mining program as well as the command line required to get it running. For my setup I went with Phoenix Miner as I have an NVIDIA 1660 Super card, and the instruction for the two first miner (gminer as well as teamredminer) seemed to indicate that AMD cards were more suitable and I was looking for the simplest method.
Phoenix Miner here: Download Phoenix Miner here:
Buy EVGA GeForce RTX 3080 10 GB FTW3 ULTRA GAMING Online
The Download button on the site will redirect you to a MEGA.nz file sharing website, do not be worried. Just download the zip file and then remember the location you saved it to.
The downloaded zip file should be opened using 7zip and the password should be “phoenix” without the quotes. After you have extracted the entire contents you need to open the folder. you’ll find a number of batches (.bat) file extensions. Choose one you like and that mentions Ethereum. What you will do is right-click, edit after which, after you’re finished you’ll save it to (for instance: Eth2Xmr.bat) or something that you can keep in mind. Make sure to change the saved file type in the case of “All file types” or it will save as a text file which is useless.
You need to use port 11024 for mining ETH. What you put in your wallet should be as follows (wallet address deleted Mine starts with a 4 and finish by a X):
setx GPU_FORCE_64BIT_PTR_0
setx GPU_MAX_HEAP_SIZE 100
setx GPU_USE_SYNC_OBJECTS 1.1
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_SINGLE_ALLOC_PERCENT 100
PhoenixMiner.exe -pool stratum+tcp://gulf.moneroocean.stream:11024 -wal 4thisisntmyrealmonerowalletaddressbutputyourowninhereX -pass RSF1660~ethash -proto 4
pause
Save the file in whateveryouwant.batin the same directory as PhoenixMiner.exe
Try running the miner test by double-clicking on whateveryouwant.bat. If you find any errors then make sure to close the command windows by right-clicking on the file , and then select ‘Run with Administrator’.
Like most mining applications it is likely that it is likely that your Windows Defender / Antivirus is likely detect it as dangerous. Allow it to run and it will start the initialization process and then begin mining.
The second question you might have is: Why should mine for XMR in the first place when Ethereum is worth significantly more?
Ethereum is expected to eventually switch in the future from PoW(mining) into PoS(staking).
XMR is fairly steady in its price at the moment.
Minimum payouts, and payments generally, are much more frequent when using XMR because of the less costs.
The hardware and the settings for overclocking, you’ll likely reap a similar rate of profit. For instance:
GTX 1660 Super (Hynix Memory)
MSI Afterburner Settings: Power Limit: 70, Core Clock -194, Memory Clock -502, Fan Speed 70
Ethermine (ethash algorithm): 31 Mh/s average, about $2–3.50 per day, based of the exchange rate fluctuation. $1,500 at the time of writing.
Moneroocean 33.12 Kh/s (converted) approximately $2.40 every day, based upon $205.00 at the time of writing.
It’s true that the GPU is still humming at 31–32 Mh/s. However, moneroocean pool is able to take the speed and uses the conversion rate to reveal what you’re receiving as an XMR reward.
A thing to remember If you are using mobile miners monitoring applications (I employ Mining Observer). They’ll show how much raw is the hash speed (not the conversion rate) which means that mine believes I’m in fact pushing XMR to 33 Mh/s, which will bring in about $800 per day, which is not the situation. Make sure to make sure to check your pool’s dashboard for the most accurate stats.
This little guide should assist those who, just like me, may require more detail than is usually provided to the experienced mining enthusiast.