Introduction
Ethereum mining remains one of the most popular ways to earn cryptocurrency, but outdated tutorials often lead to inefficiencies. This guide reflects the latest technical advancements and best practices for ETH mining in 2024.
Part 1: Hardware Requirements
Essential Components for ETH Mining Rig:
- GPU: Primary determinant of hash rate (AMD/NVIDIA recommended)
- Motherboard: Supports multiple GPUs (6+ PCIe slots ideal)
- Power Supply: 80+ Gold certification (1000W+ for multi-GPU setups)
- CPU: Basic processor (e.g., Intel Celeron)
- RAM: Minimum 4GB DDR4
- Storage: 60GB SSD preferred
- PCI-E Risers: For GPU connectivity
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Part 2: Wallet Setup
Secure Wallet Options:
Local Wallets:
- Official Ethereum Mist Wallet (discontinued - use MyEtherWallet alternatives)
- MetaMask browser extension
Exchange Wallets (Not recommended for long-term storage):
- International platforms like Bitfinex
- Always enable 2FA
Part 3: Mining Software Configuration
Step-by-Step Setup:
Operating System:
- Windows 10 (21H2+) for AMD/NVIDIA
- Linux (HiveOS) for advanced users
Driver Optimization:
- AMD: Adrenalin 22.6.1 (best for RDNA2)
- NVIDIA: 522.25 WHQL (30/40 series optimized)
Overclocking Tools:
- MSI Afterburner (NVIDIA)
- AMD Radeon Software (AMD)
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Part 4: Mining Software & Optimization
Recommended Software:
| Software | Type | Hash Rate Efficiency |
|---|---|---|
| PhoenixMiner | ETH-only | 1-2% higher than Claymore |
| TeamRedMiner | AMD-specific | Best for RDNA3 |
| lolMiner | Low-fee (0.75%) | Good for RTX 40 series |
Pro Tip: Avoid wrapper programs - use original miners for stability.
Part 5: Mining Pools Comparison
Top 2024 ETH Pools:
- Ethermine (0.1% fee)
- Flexpool (PPLNS system)
- 2Miners (Solo mining option)
FAQ Section
Q: Is ETH mining still profitable after The Merge?
A: Yes, but requires efficient hardware and cheap electricity. Calculate ROI with online calculators.
Q: What's the minimum investment for ETH mining?
A: Approximately $1,500 for a basic 6-GPU rig (used RX 580s).
Q: How to reduce dev fees?
A: Use open-source miners like ethminer (0% fee) or miner-specific config tweaks.
Q: Best GPU for ETH mining 2024?
A: AMD RX 6800 XT (62MH/s at 120W) or NVIDIA RTX 3080 (75MH/s with LHR unlock).
Final Recommendations
- Thermal Management: Maintain GPU temps below 70°C
- Power Efficiency: Target <0.3W/MH ratio
- Regular Maintenance: Clean rigs monthly
- Pool Monitoring: Check rejected shares daily
Note: Always stay updated with Ethereum network changes and adjust strategies accordingly.