How to mine Cryptocurrency?

Step-by-step guide to mining Ethereum

Published in

Coinmonks

4 min readAug 29, 2021

Due to the current (August 29, 2021) price of cryptocurrencies, it is extremely profitable to mine them. In this post, I will solely focus on the steps required to mine Ethereum and I assume that you already have dedicated hardware — I will soon write a post to discuss hardware in more details and help you decide if you should start mining or no. In the meantime, if you are in a hurry, here is a great workstation I recommend : https://amzn.to/2Xl81qF.

1) Create an Ethereum wallet. Until now, I have used MEW Wallet. It allows setting up a wallet in a few minutes and the App is great. Any other wallet is fine.

2) Choose a mining pool to join. I am using SparkPool and I strongly recommend it. It is super easy to join as you need to do nothing… You can mine anonymously and therefore, do not need to sign up. The only thing you will need to do is communicating to the mining software that you will be mining within SparkPool (more on this in the next step).

3) We are already at the third and final step! You need to download the NBMiner code. Click on the download link in the project page and install the zip file (assuming you are using Windows). If you are using Linux, download the tgz file.

Your antivirus may delete some files when you unzip the downloaded compressed folder, which is a problem. I recommend turning off the real-time scan of your antivirus while you set things up. You may prefer whitelisting the downloaded file. When you have managed to download and unzip the compressed folder, you are one step away from mining! You will see a bunch of .bat files which are the files needed for mining different cryptocurrencies. For example, start_eth.bat is for mining ETH. Let us edit this file, configure it and run it. Open the Notepad application, and then, from the application open the file start_eth.bat. You should see something similar to this:

You need to change two things. First, update what follows, the -o flag to indicate your mining pool. In my case, I replace stratum+tcp://cn.sparkpool.com:13333 with ethproxy+tcp://eth-eu.sparkpool.com:3333 (the SparkPool situated in Europe). Have a look at this quick tutorial from SparkPool to know what you should use depending on your location. Second, update 0x4296116d44a4a7259B52B1A756e19083e675062A.default by your_ethereum_wallet_address.rig_name where your_ethereum_wallet_address is the address of your Ethereum wallet and rig_name is a name you choose for your rig (it can be anything). Then, save the file and launch it by double-clicking on it. If everything went properly, you should now be mining Ethereum.

Wait a bit (~10 minutes) and check your data at sparkpool.com.

I hope the story was useful to you. If you enjoyed it, please leave a clap to support my work, it will propel other similar stories.

Disclaimer : I am not a financial advisor. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. Furthermore, I only recommend products I use myself. This post may contain affiliate links that are at no additional cost to you, I may earn a small commission.

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How to mine Cryptocurrency?

Step-by-step guide to mining Ethereum

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Written by Mintvest