minerstat mining tutorial #10: Profit switch with Mining Pool Hub
Weeks have passed since we introduced our first version of profit switch and since then, we have highly improved it and added support for even more multialgo auto-exchange pools.
One of the most wanted pools was definitely Mining Pool Hub which allows you to auto-exchange mined coins to any currency. For easier interpretation their API displays rewards in BTC, that’s why we show you the reward in BTC on the minerstat dashboard as well. In this tutorial, we will show you how to set profit switch on Mining Pool Hub with auto-exchange to your favorite cryptocurrency.
About Mining Pool Hub
To mine on Mining Pool Hub, you will need to register a new account at their site. Make sure that you keep your account safe, setting up the PIN and OTP (One Time Password). If you haven’t already, set up 2FA at minerstat as well.
Mining Pool Hub offers a various number of algorithms, including most popular ones, such as Ethash, Equihash, Zhash, CryptoNightV7, Lyra2REv2, Lyra2z, Scrypt, NeoScrypt, and X11. You can find the whole list on the main page.
The fee for mining at Mining Pool Hub is 0.9% and the fee for auto-exchange is 0.2%. At Auto Exchange you can select the coin you want to automatically exchange your mining reward to. Select the coin, read the disclaimer, and click
Set Auto Exchange Coin.
Before you continue, don’t forget to add your worker to Mining Pool Hub. Navigate to Hub workers, type in your worker name (the same name as you see in minerstat workers list) and set password to
x. Click on
Add New Worker.
If it is not yet selected, then update your worker to
No work option for
About minerstat’s profit switch
You can find out more about minerstat’s profit switch function in this tutorial. It is a function that is managed remotely from your minerstat dashboard. The first step is to register a new account at minerstat and set up minerstat software on any of your mining devices. We offer mining OS for Linux rigs, a Windows node for Windows rigs, and ASIC node for ASICs.
To use profit switch, we need to set up pools and wallets in address editor. It is important that you use correct ports, which can be found on the first page of Mining Pool Hub. Algo switch mining port should be in form of
17XXX as workers mining on this port will automatically switch to mine the most profitable coin at the moment. We have prepared a list of all addresses including algorithms and ports so you will be able to set up your profit switch quicker. At the time of the writing the following pools were available:
- Equihash-BTG (Zhash)
This list was updated on 14th August 2018.
For this tutorial, we will be mining with Nvidia GTX 1080 and define the following pools.
If you want to know which algorithms are interesting for your mining setup, you can browse through our mining calculator and switch between Nvidia/AMD/ASIC to see which algorithms are available for your mining rig.
Since Mining Pool Hub isn’t anonymous pool, we won’t add the wallet address under our wallets addresses, but Mining Pool Hub username. You can find it under your account details (navigate to Edit Account in the menu).
We will name wallet
WAlLET:MPH and our wallet address will be the username
When you have defined all pools and your Mining Pool Hub wallet address, you can navigate to profit switch.
First, select the workers to which you want to apply the profit switch. You can select one or more workers or one or more groups.
Select coins/algorithms you want to include to the profit switch. Make sure to select the correct corresponding pool, wallet, and to type in the correct pool fee (0.9% for regular Mining Pool Hub mining or 1.1% if you have activated auto-exchange ).
In new version of profit switch you are also able to select mining client and set custom configuration for it for any of the coins. If you prefer using default settings, you can keep mining client at
Hashrate and consumption settings
For a profit switch to work, we need to define the speeds the worker reaches on certain algorithms. If you haven’t tried mining all algorithms yet, you can browse the internet to find some default values and then update them after you first switch to this algorithm as you will be able to see the exact speed.
Our GTX1080 reaches the following speeds when mining on msOS.
- NeoScrypt: 0.718 MH/s
- Lyra2REv2: 46.5 MH/s
- Ethash: 35 MH/s
- Equihash: 480 H/s
- Lyra2z: 2.37 MH/s
- Zhash: 38 H/s
We won’t be dual mining in this case so we can skip this section and leave values at 0.
Enter the amount you pay for kW/h. In our case, this is 0.11 EUR for kW/h.
When to switch?
Set the minimum allowed difference in coin profitability to trigger switch. This means that new algorithm will be selected only when it is X% more profitable than the algorithm you are currently mining. You can set up any value larger than 0%. We also allow decimal numbers.
In this case, we will set 0.5%. If the current algorithm is making 1 USD/day and the new algorithm suitable for the switch is making 1.005 USD, we will switch to the new algorithm. If we would set it at 5%, the new algorithm should be making at least 1.05 USD to switch to it.
In new version of profit switch you can also set the minimum mining time in hours and minutes. Default setting is 10 minutes.
Activate profit switch
After you have saved changes, you have only saved the configuration that will be used for profit switch. To really start profit switching, you will need to activate it for your miner. You can do that by clicking on the switch icon on workers’ list or by edit the configs of your worker (the second option is faster alternative if you want to activate profit switch for multiple workers at the same time).
You can check your balance on Mining Pool Hub on your balances page or add it to your pools balance monitoring on the minerstat dashboard. API key can be found under your account’s settings, and API ID is your user ID.
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