The definitive guide
How to start Ethereum mining with and without hardware. Which one? In this article i will discover the pools and the hashrate needed to mine ethereum (ETH) and get profit. In addition, software, hardware and the ethereum mining calculator to create and analyze the profitability of a small mining farm.
How to Ethereum mining Without Hardware
Hashflare’s cloud mining service allows you to Ethereum mining without hardware. How is it possible?
Simple. The Hashflare company has thought about using funds from users to create and maintain a mining farm. A mining farm that today allows you to mine Ethereum, Bitcoin, Litecoin and ZCash. They take care of the management of the equipment, of paying the expenses of the powerful computers, of the costs of the rents and of the electricity, while the user participates economically to the support of the mining farm.
An excellent solution for all those people who want to earn the Ethereum but do not have the knowledge or availability necessary to create a mining farm. Obviously the revenue obtained will be distributed net of the cost of participation of costs incurred for the hashflare cryptocurrency mine.
You can access the official website and register for free by clicking here. Once you have registered, you can mine Ethereum without hardware. To mine Ethereum you will have to choose the system called ‘ETHASH’. In short, here are the steps you need to follow:
- Click here to access the official Hashflare website.
- Insert your details to proceed with registration.
- Click on ‘buy hashrate’ and select ‘ETHASH’.
- Choose the hashrate according to your available budget and click on ‘Proceed’.
You can buy directly by credit card.
Every 100Kh / s has a cost of $ 2.20,.Depending how much you want to invest, you can calculate the hashrate you can afford and see the daily earnings that will get back to your account.
Daily earnings will be calculated and displayed on ‘Income Prediction’ after 24 hours from your first purchase:
From now on, you will see every days portions of ethereum in your Eth wallet.
Hashflare provides other systems in cloud mining. Also if you want to mine bitcoin, litecoin, or ZCash here are the names and costs of the various services:
- SHA-256 for Bitcoin mining (BTC). At the cost of 2.20 $ for 10 GH / s.
- Scrypt for Litecoin mining (LTC). At the cost of $ 7.50 for 1 MH / s.
- EQUIHASH for ZCash mining (ZEC). At the cost of $ 2.00 for 0.1H / s
How to Ethereum Mining with Hardware, Costs and Equipment you need
Today we will try to understand how to create a small mining farm to generate ethereum and get profit. We will calculate the average equipment costs, maintenance costs and electricity costs; To see if it is appropriate or not to take this way.
What I Needed To Ethereum Mining?
First of all, you will need a computer with powerful hardware to devote to full-time mining.
There are two types of hardware mining:
- Through CPU
- Through GPU
GPU mining has a higher hash rate and can solve multiple tasks in less time. For this you can immediately exclude mining via CPU and I can confirm that the miners (miners) choose to mine ethereum with the GPU as the only solution.
Setting up a GPU is a fairly complicated operation and there are various hardware more or less suitable for a more or less profitable return. The more powerful the hardware will be, the more electricity will consume. At the same time, more Ethereum will be able to mining it.
To build a machine made up of multiple GPUs, it may take a whole week.
You to consider that if you choose the right hardware you must also calculate the costs of the electricity they consume.
The ethereum mining profitability calculators can show you the ethers you will earn with a certain hash rate and GPU power, and then compare them with the cost of the electricity you’re going to spend. If the ethereum you receive will have a value higher than the energy costs you are going to spend, then your setup is appropriate for generating profit.To learn how to mining Ethereum with hardware I suggest you read this guide
What is a mining pool?
A mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A “share” is awarded to members of the mining pool who present a valid partial proof-of-work. Mining in pools began when the difficulty for mining increased to the point where it could take centuries for slower miners to generate a block. The solution to this problem was for miners to pool their resources so they could generate blocks more quickly and therefore receive a portion of the block reward on a consistent basis, rather than randomly once every few years.
Better to invest in cloud mining or create your own mining farm?
This is a question of economic availability,I can advise is to take as much information as possible, check it out and draw your own considerations on the actions to be taken.Choosing to invest in cloud mining or to create a mining farm depends on your budget.
This article was a tutorial and a little taste of the world of ethereum mining. To deepen and create a suitable set-up for a profitable mining farm you need knowledge that you will need to acquire in specific industry forums.