Ethereum is the second-largest cryptocurrency by market cap, after Bitcoin. The popularity and rise in the price of Ethereum has seen many people scramble to get to it. For those who can’t buy it from the various crypto exchanges where it’s listed, mining it is the next best option.
ETH Mining Resources
With Ethereum's imminent/recent switch to Proof of Stake a.k.a. "The Merge", Ethereum Classic becomes the largest Proof of Work Smart Contract Platform and inherits many of the miners that previously mined Ethereum. As Ethereum Classic's hashing algorithm is almost identical to ETHash, so it supports the same hardware, and mining ETC should be as simple switching to a mining pool that supports ETC.
Ethereum Classic has a long term commitment to Proof of Work, a tried and true consensus mechanism that provides a solid foundation on which to Build Unstoppable Applications. This commitment is not out of happenstance, but as an intentional design choice over other mechanisms, such as Proof of Stake, that come with inherent security trade-offs.
Mining is one of the most important elements of any Proof of Work blockchain, as it provides security allows nodes to reach consensus about the state of the network. In exchange for providing this service, anyone in the world, without permission, can contribute hash power and be rewarded every block with ETC, based on the emission curve and transaction fees.
Below is a non-exhaustive collection of mining resources developed for Ethereum Classic. If you have questions about mining, there is an active Mining channel in the Ethereum Classic Discord.
ETH Mining Hardware Guide
Mining Ethereum Classic is almost identical to mining Ethereum, and supports the same hardware and mining software. If you are a recently evicted Ethereum miner, Ethereum Classic loves its miners and welcomes you, and you can start mining ETC using your existing hardware by simply switching to a mining pool that supports Ethereum Classic.
The ETC Mining algorithm is almost identical to Ethereum's ETHash, with a small upgrade that made it more miner friendly. In late 2020, during the Thanos upgrade, ETC implemented ECIP-1099, which tweaked the ETHash algorithm into what became known as ETCHash.
Basically, in 2020, Ethereum's DAG exceeded 4 GB, meaning that many GPUs with 4 GB of memory would be unable to continue mining ETH. In response, Ethereum Classic tweaked it's algorithm to ensure that cards with 4 GB would be able to continue mining ETC until approximately mid-2025.
There are two main types of hardware that can be used to profitably mine Ethereum Classic.
Generally, the best graphics cards to mine Ethereum Classic are the most power efficient cards with at least 4 GB of memory. Before picking a GPU, look for reviews specifically about mining ETCHash. You can search online for the "Best GPUs for mining Ethereum Classic in [current year]" for suggestions, and visit WhatToMine for more info.
ASICs, or Application Specific Integrated Circuits, are specially manufactured chips that are designed, as the name suggests, to mine just one specific algorithm. Originally, due to the memory-intense requirements of the DAG, ETHash was fairly resistant to ASICs, but with time, like all profitable algorithms, there was a big incentive to build ASICs for ETHash, which did come to market.
A range of ASIC miners Ethereum Classic are available and can be found by searching online for "ETHash ASIC Miners", and check the manufacturer's specification for whether it supports ETCHash.
For further help and guidance from other miners in the ETC community, you can reach out in the #mining channel on Discord.
There is currently a debate ongoing in the Ethereum Classic community about whether to change the hashing algorithm of ETC to SHA3, but presently there is no fixed schedule or consensus about implementing this change. If you would like to follow the debate or have your voice heard, check out the #ecip-1049 channel on Discord.
What is Ethereum Mining?Ethereum mining is the process of creating a block of transactions to be added to the Ethereum blockchain. This process is made possible by use of advanced computer systems that compete to solve exceedingly tough arithmetic problems and validate blocks. The miner who solves the puzzle first is rewarded with ETH.
Why do ETH Miners Exist?There are a few reasons to mine Ethereum. Some of them include;
One of the major reasons people mine Ethereum is profit. The rise in the price of Ethereum has made it one of the most expensive cryptocurrencies in the market.
Ethereum mining offers those with mining equipment and the necessary resources a way of earning ethereum without having to put any money down. Then, they can choose whether to hold on to their newfound coins or sell them.
Security is vital for the smooth operation and integrity of the Ethereum blockchain. The Ethereum mining process is one way the Ethereum blockchain remains secure and decentralized.
-Increase Ethereum number
According to Statista by November 2021 there were over 118 million Ethereum tokens in public circulation. Unlike Bitcoin, Ethereum has no supply cap.
By mining Ethereum, miners help increase the number of Ethereum coins in public circulation. This helps with its price movement. Now that you understand why ETH miners exist, let’s delve into the various approaches used in Ethereum mining.
Three ways to Mine Ethereum-Pool mining
Pool mining is where ETH miners combine their computational resources over a network to increase their probability of finding a block and winning the block reward.
Mining pools have become quite popular as they make it a little easier for people, even beginners, to participate in crypto mining. The probability of earning from a mining pool is also higher than when a miner chooses the solo route.
Solo mining is the opposite of pool mining. Instead of combining resources to increase the probability of winning the block reward, a miner decides to do the whole work alone.
The problem with solo mining is it's not as profitable as it was back in the day. With huge mining pools in play and the computational power needed to mine even a single block, it can take a while before a solo miner sees some worthwhile returns.
Cloud mining is the process of mining Ethereum using rented computational power. A miner doesn’t need to invest in expensive ETH miner hardware. It is a perfect choice for those looking for a cheaper way into Ethereum mining.
The problem with cloud mining is scammers. The space is filled with scammers since miners have no way of assessing the mining farms in person.
What You Need to Mine EthereumWhile most people tend to focus on finding the best mining software. Other essentials you will need to consider include:
- ETH miner hardware: Well-equipped Ethereum mining hardware is extremely important for ETH mining. This is because it can help maximize your earnings while minimizing your overhead cost, which includes electricity bills.
- Crypto wallet: A crypto wallet stores your cryptocurrencies. You have the option of choosing a soft wallet or hardware wallet for storing your Ethereum.
- Mining location (optional): If you intend to mine ETH long-term, a good mining location might be a necessary addition. An ideal place should be cool and spacious. This will allow you to store a lot of Ethereum mining rigs. Simply think of mining rigs as powerful computer systems designed to perform crypto mining.
The Best Ethereum Mining HardwareWhen building a good Ethereum mining rig, good hardware is indispensable. Some of the best Ethereum mining hardware includes;
-AMD RX 580
The AMD RX 580 is one of the most energy-efficient GPU cards in the market. It is also one of the most affordable Ethereum mining GPUs. It is a great choice when on a budget and looking for the best ETH miner hardware.
-AMD Radeon RX 480
The AMD Radeon RX 480 is one of the best mid-range GPUs. It stands out with its low power consumption and decent hash rate. The card reaches 25Mh/s hashrate while consuming 150w of power.
-NVIDIA Titan V
The NVIDIA Titan V is not cheap. However, it is a powerful ETH miner. It is one of NVIDIA’s top cards and one of the best ETH miner hardware. The card can help you generate a reasonable income while mining Ethereum. That is if you can afford it.
List of the top Ethereum mining software/solutions
2MinersFounded in 2017, 2Miners is an easy-to-use Ethereum mining solution that boasts thousands of active users every day.
2Miners stands out with its user-friendly interface. Navigating through the platform is easy even for beginners. Most of the information is available on the main page.
The platform supports several mining algorithms and features two mining modes, pool, and solo. Miners can choose to mine ETH solo or utilize a mining pool.
Besides ETH, miners can also mine 19 other different cryptocurrencies, which include Ravencoin, Ethereum Classic, Monero, Ergo, and Bitcoin Gold.
A plus for the 2Miners mining pool is that payouts are processed automatically every 2 hours. Ethereum can choose to be paid in Ethereum, Bitcoin, or Nano. The minimum payout is in Ethereum is 0.01ETH, in Bitcoin is 0.005ETH and in Nano is 0.0005ETH.
- Easy to use and nice user interface
- Great for pool mining and solo mining
- Great for all types of miners beginners, intermediates, and advanced
- 0.1ETH minimum payout is not beneficial to beginners
- The suppurated coins could be more
NBMinerNBMiner is a highly secure and versatile ETH miner. It is one of the best Ethereum mining software you can add to your Ethereum mining rig.
NBMiner supports AMD and Nvidia GPU mining. It also supports over a dozen algorithms, the mining of more than 10 different cryptocurrencies, and SSL connection to different mining pools.
When it comes to fees, NBMiner’s mining fees vary depending on the mining algorithm. Some coins feature a mining fee of 1% while others feature a mining fee of 2%. The mining software is free to download and supports Windows and Linux systems.
It is worth noting that NBMiner is designed for medium-sized and large mining farms. It is not beginner-friendly. It is also mainly intended for the Chinese market.
- Highly secure and versatile mining software
- Works with both Nvidia and AMD cards
- Can also mine other cryptocurrencies besides Ethereum
- Not beginner-friendly
- Mainly intended for the Chinese market
Cudo MinerFounded in 2017, Cudo Miner is a popular GPU, ASIC, and CPU mining software. It currently has over 100,000 users globally.
Cudo Miner stands out as an Ethereum mining solution that can serve all kinds of users. It is simple to use and allows for automated and manual mining. It works as a fully automated ETH miner on desktops.
With automated mining, beginner miners don't have to do anything. The mining solution automatically sets everything for users. There are advanced settings for advanced miners. Auto coin switching is also in play to ensure users always mine the most profitable coins.
A plus for the Cudo miner is that users can still earn from it when their systems are idle. Beginner users also have a seven-day free trial. Fees are as low as 1.5%, which begin to be charged after the trial days.
Cudo Miner is compatible with Windows and Linux systems.
- Automated and manual mining options
- Advanced settings for advanced miners
- Withdrawal fees
- Consumes resources
GMinerGMiner is an Ethereum mining solution developed by DevelSoftware. It has more than 671,000 daily active users.
The mining software supports Nvidia and AMD cards. It is great for a GPU mining rig that supports mixed graphic cards. However, it mainly mines Ethereum on Nvidia GPU miners. It also supports several popular mining algorithms including Ethash, ProgPow, KAWPOW, Equihash, and CuckooCycle.
GMiner is not only great for mining Ethereum but other coins like Beam, Grin, Zelcash, Aeternity, and Ravencoin as well. Users can expect some mining fees while using the software. The mining fees differ depending on the algorithm.
GMiner is compatible with Windows and Linux systems.
- Excellent for mining rigs with mixed graphic cards
- Supports most of the popular mining algorithms
- Low fees
- Compared to other miners GMiner is slightly slower
- It is not compatible with macOS
LolMinerThe LolMiner is a free-to-download mining software developed by Lolliedieb. The mining software is a great addition to a good Ethereum mining rig. It has more than 613,000 daily active users.
Like the GMiner, the LolMiner supports both Nvidia and AMD graphic cards. Users also have access to multiple mining algorithms. Some of the popular ones include Ethash, Equihash, and Cuckoo.
Like the GMiner, the LolMiner is also a multi-coin mining software. The mining software can also mine cryptocurrencies like Beam, Grin, and Zelcash. Mining fees vary depending on the mining algorithm. Most coins feature a mining fee of 2%.
A plus for the Lolminer mining software is that developers are constantly releasing software updates. Security is guaranteed. The mining software is compatible with Windows and Linux systems.
- Highly secure
- Supports most popular mining algorithms
- Developers are constantly releasing software updates
- Mining speeds vary with Nvidia cards
- Not compatible with macOS
T-Rex MinerCreated in 2018, the T-Rex Miner is one of the fastest Ethereum mining software currently in existence. It is also quite versatile. It currently serves more than 577,000 daily active users.
The T-Rex Miner is free to download and can be installed on an NVIDIA-powered system. However, it only works with newer or modern Nvidia GPUs. It supports over 30 mining algorithms including popular ones like Ethash, KAWPOW, Octopus, and MTP.
The T-Rex Miner fee varies depending on the mining Algorithm. Most coins feature a 1% fee. Yes, the T-Rex Miner also supports the mining of other cryptocurrencies besides Ethereum. Some of the supported coins include Zilliqa, Ravencoin, Ethereum Classic, and Pegascoin. The T-Rex Miner is compatible with Linux and Windows systems.
- Highly secure and fast
- Works with lots of algorithms
- Lots of updates
- Needs modern or newer Nvidia cards
- Not compatible with macOS
Phoenix MinerThe Phoenix Miner is another great option for Ethereum mining software that prioritizes speed. It might not be as fast as the T-Rex miner but it offers higher stability levels and supports both AMD and Nvidia cards.
The Phoenix Miner supports several mining algorithms including Ethash for mining Ether. It also supports the mining of other cryptocurrencies including Ethereum Classic, Metaverse, Musicoin, and Ellaism.
Users can appreciate the fact that besides speed and higher stability levels, the Phoenix Miner also comes with lower mining fees. The fee is just 0.65%.
Like most Ethereum mining software, the Phoenix Miner is only compatible with Linux and Windows systems. It is not compatible with macOS. It is, however, free to download.
Something interesting about the Phoenix Miner is that, like Bitcoin, its creator is not known. The eth miner was created in 2014 anonymously.
- Supports both Nvidia and AMD cards
- Low fees
- No dual-mining option
- Not compatible with macOS.
KryptexKryptex is an easy-to-install and use Ethereum mining solution. The software is free to download from its official site.
Kryptex supports several mining algorithms and cryptocurrencies. Among its many great features is auto coin switching. The mining software detects the most profitable coin and automatically switches between coins to maximize profitability.
Users also get to benefit from the lite mode function. The lite mode allows users to use their computers at a lower percentage while mining either of the supported cryptocurrencies. Users have the option of working with lite mode or full mode depending on their ETH miner hardware capabilities.
Another plus for the Kryptex Miner is it pays in Bitcoin or real-world money. Withdrawal is also pretty fast. The software is compatible with Windows 10.
- Easy to install and use
- Auto coin switching feature
- Lite mode function
- Low profitability
- Poor customer service
BetterHash MinerThe BetterHash Miner is another easy-to-use Ethereum mining solution. The software is great for all types of miners, beginners, intermediates, and advanced.
Beginner miners will appreciate the fact that not much is needed from them while setting up the ETH miner. Automation helps take care of most of the important stuff including selecting the most performing algorithm and switching between algorithms.
Yes, the mining software supports several algorithms. Besides Ethereum, it also supports the mining of several cryptocurrencies including Bitcoin, Monero, Zcash, Ethereum Classic, Bitcoin Gold, and Ravencoin.
There are no withdrawal fees. But, there are pool mining fees which are around 1%. Users have the option to either transfer their cryptocurrencies to external wallets or store them in their accounts. The mining software is only compatible with Windows.
- Easy to set up and use
- Best for beginners, intermediates, and advanced miners
- Helps with mining profitable cryptocurrencies
- Low profitability
- Only compatible with Windows
NiceHash MinerThe NiceHash Miner is an impressive Ethereum mining software designed for all types of miners. Like BetterHash it caters to beginners, intermediates, and advanced miners.
The mining software supports AMD and NVIDIA cards. It is also great for an ETH miner rig with mixed graphic cards. It also supports several algorithms and cryptocurrencies. It is not just meant for Ethereum mining but other cryptocurrencies as well.
The mining software features a profitability calculator to help users check and compare the potential earnings of their hardware. There is the NiceHash mobile app that allows users to manage their NiceHash accounts and mining activities. The app is available on Google Play and App Store for download.
- Great for all types of miners
- Profitability calculator
- Mobile app
- Use of intermediaries
- Remote mining is not suitable for long term investors
So, Which is the Best Solution for Mining Ethereum?The best Ethereum mining solution should; be easy to use, has low fees, and is compatible with various operating systems. From our list of the best Ethereum mining solutions, 2Miners stands out as the best ETH miner. It’s great for all types of miners; beginners, intermediates, and advanced. It features a simple user interface, 18 languages, and pretty low mining fees. It is also highly secure.
2Miners mining fees vary depending on the mining mode. The platform offers two mining modes, in pool and solo. There is a 0.5% fee for PPLN and a 1.5% fee for Solo mining. There is, however, an average fee of 1.25%. Low fees do not affect returns.
2Miners is also one of the most profitable mining pool for GPU and ASIC. Regardless of the versatility of the crypto space, 2Miners users can rest easy as payouts are processed automatically every 2 hours.
Unlike most Ethereum mining solutions 2Miners comes with an extensive FAQ section that helps with understanding how it works. Beginners should have no problem learning about 2Miners and what it has to offer in a few minutes.
What’s more, 2Miners has an impressive support system. The mining pool has a miners' community on telegram. Its customer support is also available 24/7.
Final WordTechnically, anyone can mine Ethereum. To mine Ethereum profitably you need a powerful ETH miner and decent knowledge about the crypto world.
Different ETH miners have different features. Some Ethereum mining solutions are designed for advanced miners while others are designed for all types of miners. Some programs feature low fees while others have high fees. Other mining programs like 2Miners even give the option of pool mining or solo mining.
All said and done, there’s plenty of ethereum mining solutions to choose from. The best ETH miner will vary depending on your budget, needs, and how much ethereum mining is worth to you.
We hope this article helps you get started.