Ahead of Etherium’s transition to version 2.0, PoW mining of the cryptocurrency is still relevant. In 2023, ETH is still the most popular coin for mining. Due to the complexity of the network, the asset is more often mined on video cards and asics. However, the developers initially optimized the Ethereum algorithm for mining on CPUs to increase the decentralization of the system. After the cryptocurrency’s DAG file grew to 4 Gb, it became impossible to mint coins on CPUs. Ethereum mining on CPU regained popularity in 2020 with the advent of AVX512 and Adaptive Boost technologies, which added missing memory (up to 5 Gb) to CPU cores.
Features of Ethereum mining on a processor
The main function of the CPU (Central Processing Unit) is to allocate PC resources for optimal execution of calculations. ETH mining on the CPU is one of the most economical ways to mine cryptocurrency. Video cards and asics have better performance but consume a lot of electricity. You can install less noisy fans on the CPU, which will allow you to mine cryptocurrency at home.
Many developers oppose the use of ASIC devices, which harm the decentralized nature of the network. Computing power is concentrated in one group of individuals, which means that the risk of a “51% attack” is growing. With the advent of a new asic model for the popular coin, mining on farms with a small hash rate becomes unprofitable. Private miners are leaving the market.
To protect the network, the Ethash algorithm was originally optimized for CPU mining. The performance of ETH mining depends on the speed of random access to memory, which is quite high in CPUs. The mining efficiency is also affected by the availability of hardware support for computing (AES protocol). Therefore, older CPU models that do not have this feature are not suitable for mining the asset.
To work with the Ethash algorithm, miners need to download a DAG file. Its size is constantly growing. In May 2022, the Ethereum DAG file occupies 4.86 Gb. Therefore, ethereum can be mined only on new processors with a large amount of cache memory and support for AES protocols.
GPU vs CPU
The performance of central units in mining is inferior to that of video cards. GPUs use a faster type of memory, so the bandwidth is increased. This makes a difference for parallel computing. CPU and GPU serve different purposes. The functions of the CPUs are summarized in the table below.
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| CPU | GPU |
|---|---|
| Controls the components of the PC | Responsible for texture processing |
| CPU core processes four 32-bit instructions per clock cycle | Processes 3,200 32-bit instructions per clock cycle |
| Conducts 1 or 2 threads of computation on a single core | Runs thousands of threads on each chip |
Feasibility of mining ETH on a CPU
In 2023, etherium accounts for more than 70% of all coins mined. Most miners use video cards, which was one of the reasons for the sharp rise in the price of the latter. In addition, supply chain disruptions are not uncommon. Sometimes miners have to wait several months for the right model.
Users began to look for alternative ways to mine etherium. In 2020, powerful Intel 11-series CPUs appeared. They can compete with budget graphics cards in terms of hash rate, but consume less electricity. This is especially relevant in regions with expensive energy, where powerful graphics cards become unprofitable due to high costs for “socket”.
Esterium mining on the CPU is worth considering in such cases:
- If you need a powerful CPU to work. During the downtime of the PC, you can earn a small additional income.
- In regions with expensive electricity. You need to carefully calculate the profitability of the farm on GPU and CPU.
To increase profits, you can perform the following actions:
- Start mining on the CPU and the video card at the same time.
- Mint 2 coins on the CPU. In 2023, simultaneous mining of ETH and TonCoin is relevant.
Yield
In 2023, the complexity of the Ethereum network is so high that mining on low-cost CPU models is unprofitable. Hash rate of 20-30 Th/s can be provided only by modern Intel models of the 11th series and above (or analogs of other manufacturers). The average price of such CPUs in May 2022 is 115 thousand rubles. Profit from mining can be increased if you manage to buy a model in good condition on the secondary market at a discount.
When working around the clock per month you can earn $ 18-20 (at the price of ETH $1.8 thousand). In 2023, the cryptocurrency market is experiencing a prolonged correction. Bitcoin has declined from its peak values by 55%, etherium by 60%. Many analysts predict an increase in the price of ETH to $10 thousand on the next growth impulse. In this case, the income of vorkers will multiply.
How to mine etherium on a processor
ETH can be mined on a computer that is constantly used for work. Another option is to build a new one specifically for mining. The decision depends on the user’s goals – to create a stable source of income or to run the PC sometimes to avoid downtime.
Wallet registration
In 2023, developers offer a large number of services for storing cryptocurrencies. A small portion of funds can be placed on exchange wallets to trade coins or invest them. Large sums to store on online platforms are not recommended. It is safer to use non-custodial wallets for holding.
Such services do not store private keys from accounts, but transfer them to users. In 2023, miners are more likely to choose such wallets:
- Geth
- MetaMask
- MyEtherWallet
- Trust Wallet and others.
The account registration algorithm is the same for most services:
- Go to the developer’s website. Download and install the application. Programs for mobile devices or desktop computers are available.
- Click on the “Create new wallet” button.
- A 12-word mnemonic code will appear on the screen. You should write it down and keep it in a safe place. This is the only way to restore access to assets in case of password loss.
- Confirm the correctness of the Seed record. To do this, put the words in the given order.
The address of the wallet can be found in the “Wallet” (Wallet) menu. To receive rewards for mining, it must be copied and pasted into the appropriate field of the .bat file of the selected pool.
Hardware for mining
To create a new block, you need to solve a complex cryptographic problem. The miner who finds a valid hash first will be rewarded. CPU mining hardware is the components compactly installed in the case:
- Power supply unit. From this element depends on the performance of the system. Therefore, you need a reliable server model.
- Video cards. Computations are performed by the CPU. If the user will not mine simultaneously on the CPU and GPU, any video card will do. You can use the built-in one.
- Processor. This is the main component of the farm. For etherium mining, you need powerful modern models (minimum cache memory size of 5 Gb, support for the AES protocol). You can use server blocks designed to work in a data center. They can withstand maximum loads in 24/7 mode and have a large amount of cache memory. The disadvantage is a high price.
- Motherboard. The basis of the computer. It has slots for connecting components, so you should not save money. With a short circuit in the motherboard, most often the CPU also fails.
- RAM. For mining requires a minimum of 8 Gb. It is better to buy with a reserve – 16-24 Gb.
- Hard disk. It is more efficient to use SSD. Such disks have higher speed, which affects the performance of the system. A minimum of 128 Gb is required.
Pool selection
In 2023, solo mining of top coins is unprofitable due to the high complexity of networks. Therefore, miners join together in pools. Such services divide a common task into many simpler ones. In this case, the probability of finding a block increases several times. The reward is divided among all the vorkers in proportion to their computing power.
You should choose a pool taking into account its features:
- Reputation. Some platforms underestimate the hashrate of users, increasing their own profit up to 20-30%. Before you start working, you need to look at reviews on forums.
- Total hashrate. The more the pool has capacity, the higher the chance of finding a block.
- The way of profit distribution. In 2023, large pools use PPS (payment for each valid ball) or PPLNS (calculation for all accepted parts of decisions during the time of finding the block).
- Location. Ping should not exceed 100 ms. If there are delays, some balls will not reach the pool.
Miner programs
The extraction of digital assets is an automatic process. The work of the equipment is controlled by special programs. Most applications are distributed for free. In some, the developer’s remuneration is set by default. The software connects the computing power of the miner to the blockchain to confirm transactions and receive rewards for mining.
In 2023, the following programs are used to mine etherium on the central blockchain:
- Ethminer. The universal application is suitable for all popular operating systems (macOS, Windows, Lunix).
- CGMiner. The program allows you to mine on the video card and processor at the same time.
- ClayMoreDual. The application allows you to mine 2 currencies in parallel (one of them is ETH).
Setting up and launching mining
Mining cryptocurrency on the processor is low-profit. To increase performance, users artificially increase the parameters of the CPU. The characteristics available for modification are presented in the table.
| Parameter | Assignment |
|---|---|
| Clock frequency | Affects the number of operations performed per unit of time. |
| Voltage | Regulates power consumption |
| Data Bus Width | Responsible for the amount of information the CPU can process in a single round trip |
Tuning a CPU is all about finding the optimal combination of hash rate and power consumption. If you increase the data bus and clock frequency, the power will increase. To avoid system failures, the supply voltage must be increased. At the same time, power consumption will increase, so quality cooling is required. When overclocking the CPU, the processor can fail. If it is used mainly for work, you should not achieve maximum performance.
After setting up the equipment and the miner program, it remains to start mining. The order of actions is as follows:
- Activate the program.
- Disable WIndow auto-updates.
- Install a remote access program (for example, TeamViewer).
Summary
In 2023, you can only mine etherium with powerful hardware. A few years ago, it was profitable to mine the coin on CPUs. By 2019, the cryptocurrency’s DAG file size has reached 4 Gb. It became impossible to mine ETH on a regular PC.
The situation has changed with the advent of next-generation CPUs. In 2023, such models are expensive. At the same time, the rate of cryptocurrency fell by 60%. Therefore, the payback period of a farm on a CPU is 3-4 years.
Esterium mining on a CPU is expedient when electricity is expensive. CPU consumes less energy, compared to a video card, with a comparable hashrate. To increase revenue, you can mine coins simultaneously on the GPU and CPU. Other options are to mine 2 coins at the same time (e.g. ETH and Toncoin) or rent additional capacity.
Frequently Asked Questions
💻 Which CPUs are needed to mine etherium?
AMD and Intel are the market leaders in 2023. You should choose models with more than 5 Gb of memory.
❓ Does mining harm the CPU?
Mining cryptocurrency affects the life of the CPU. To prolong it, you need to ensure quality cooling of the equipment.
✅ What are the advantages of Ethereum mining on the CPU?
With this method of mining, there is less noise and electricity consumption. You can mint coins in your apartment.
🔍 Which pools support CPU mining of ETH?
Popular platforms in 2023 are NiceHash, MinerGate.
💳 How to calculate the potential profit from mining?
You can use the calculator on the pool’s website. It shows an approximate result, because the cryptocurrency exchange rate changes.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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