Want to mine some bitcoins? Want to earn for free? Have a pi not being used?

Then lets mine some bitcoins!

Step 1: What is BitCoin?

If you don’t know already, Bitcoin is a virtual currency set up in 2009. Bitcoin has grown in reputation over the past few years becoming a very popular as a method to pay for services over the internet. The value has rocketed recently thanks to the huge coverage in the media, for both positive and negative reasons.

There are two ways to get Bitcoin:

-Buying them from an exchange, which is the process of converting local currency to Bitcoin.

-Mining them. Mining is the process of verifying transactions in the blockchain.

As the whole of the Bitcoin system is decentralised, every transaction is publically viewable within what is called the blockchain. This blockchain contains every bitcoin exchanged between users so, as there is no central server, it has to be self governed. This is the job of the miners.

<p>interesting article.<br>I was just wondering, with an average usb miner costing say 50 USD and an Rpi say 40 USD, did you already break even?<br>I really have no idea how long it would take to mine a bitcoin r wether that is even a predictable time</p>
<p>from what I've read it should take 70 years to break even</p>
<p>What usb bitcoin miner did you use?</p>
<p>Can you do this project without a USB block erupter/miner?</p>
<p>Everything went smooth until the make command then I got &quot;No targets specified and no makefile found&quot;</p>
<p>how much BTC would i make with four RPIs - model 1 1st model??</p>
<p>you can't mine bitcoin with the raspberry pi, the pi is only used to host the miners so they don't need to be tethered to a computer</p>
<p>autoreconf pakage required</p>
<p>What USB miners would anyone suggest? Something cheap; I'm not trying to support myself on this or anything</p>
Any idea how I could add a PC CPU to the raspberry pi?
<p>Just lop off the Broadcom unit and slab on an i7-6700k with some superglue! Probably won't run any faster but it will look ultra cool. :)</p>
<p>Thanks for sharing this! Maybe your next instructable could be how to make this profitable ;)</p>
<p>How much sd cards and usb miners do I need for every Pi? There are four usb`s in the picture, but I don`t sure if I can get enough.</p>
<p>Link to the acrylic enclosure you used to house the eight Raspberry Pis?</p>
<p>To see how much you can make on mining check out </p><p>https://bitcoinwisdom.com/bitcoin/difficulty - at the moment you can generate about 10 US cents worth of bitcoins per month with 1.3Gh/s as shown on the display on the picture in the article. </p>
<p>Hah. At SDG&amp;E current average electricity costs ($.21 per kwH) it would cost about $.21 per kwH (assuming 6.5 watts usage 24 hours per day), so you'd be losing 11 cents per month. Break-even is somewhere around 14 to 15 cents per kwH (assuming the 10 US cents per month earnings is correct).</p>
<p>how about using solar power...</p>
<p>You will most likely find more money on the streets. By far more money if you don't invest in high end mining equipment.</p>
can this setup process work to mine scrypt coins like lite and doge assuming you bought the scrypt asic hardware? I know people are doing it but no one has the same miner for scrypt it seems
<p>It would be cost-effective if you live someplace where electricity is used for heating. At least in the winter, or perhaps for some commercial processes.</p>
<p>You must mention in your article that mining is not profitable anymore, unless you have free electricity (that is stealing it), but in that case stealing money should be considered as more effective solution :)</p>
<p>I have free electricity and I'm not stealing it. It's included in my rent :)</p>
<p>Well, it's not really free. That cost is included in your rent.</p>
<p>I get electricity from the sun. Filthy electricity thief, that I am. Sorry, sun!</p>
<p>I think this is a great little thing to do. While you will never make money off of it; it's cool just to say you were a part of it. Conversation starter with your nerdy friends. I've got some coming in; if you want you could become a part of a multipool which will focus on whatever digital currency that is most profitable. </p>
What sort of money per day/week are you looking at so far?
<p>$0.02 per month per USB device. Unless you get free electricity, you will be making a loss.</p>
<p>Even with free electricity you'll need about 84 YEARS to make up the cost (if my math is correct) of USB miners. Each USB miner costs $24. According to current difficulty to make $1 a month, you'll need 43 miners, that's a $1000. I'm not even counting cost of RPis here. </p>
<p>I am curious, too, what the unit &quot;mp&quot; means. Although you say it's a unit of power, did you mean unit of current, and mean to say &quot;as much as 1 Amp&quot;? </p>
<p>Looks pretty good. What would need to be changed to use cgminer ?</p>
<p>&quot;as much as one mp per miner&quot; I'm not quite sure what you mean here. mp is not a unit of power, or even of current. Perhaps you mean mA, but that's not much power at 5 mW. The raspi can supply 100 mA of current to each USB port, so it would probably be more than that.</p>
The author probably meant to say &quot;Amp&quot; and the &quot;A&quot; got left off. it happens.
Oh wow, you're definitely right! I was looking at the little m as a prefix meaning mili, but he obviously just meant 1 Amp. Thanks!
Still, it probably uses more than 1mA. He asked a valid question
<p>Nice write up. I have to ask, is it work using a RPi for mining? Even with a cluster of RPis, I wonder if using graphics cards are a better solution.</p>
The Rpi is the controller and the data link between the miners (asics) and the pool/blockchain. I run a Rpi with a bigger asic than what is in the picture but for me in the UK there is no real chance of a profit unless the bitcoin price rockets again.
<p>OK that makes a bit more sense. Do you have any information on the ASICS you use? </p>
<p>Block Erupter ASIC usb miners and the ones like them will never pay for themselves in terms of the return on your investment because they have a ridiculously-low hash-rate. A hashing rate is how powerful the device can crunch numbers. Even a cluster of these things wouldn't be enough for a return on investment because they are no longer efficient/powerful enough to compete with the other ASIC mining devices that are exponentially more efficient/powerful. Which, also means they are more expensive. However, you may use a Pi as a controller for ASIC devices that are supported. Most ASIC devices have their own embedded controller, now-a-days, though.</p>
I use a new R-box 2 which when overclockwd runs at 140ghs which is good considering it's listed at 100-110ghs. If I'm lucky I might pull &pound;2.50 out every 10-12 days. like I said no money in it now.
<p>They are &quot;USB Block Erupters&quot; (that is how they spell it) if you want to google them.</p>
<p>A graphics card producing the same 333MH/s as these modules will use around 150W. The USB modules use 2.5W. You will also have an extra 100W for the PC.</p>
<p>With such low power could you set up a solar bank for power production and cut out that cost?</p>
<p>What a great project and a fun way to start mining.</p>
<p>Excellent write up and explanations. It's a cool project. What I don't understand is it appears that diy bitminers seem to be investing to contribute to the bitcoin process but it won't ever break even. What's worse, as the system requires ever increasing hash rates which makes this equipment obsolete. </p><p>I'm not meaning to troll. Is it more of a &quot; I can do this because it's kinda neat&quot; thing?</p>
<p>Interesting project. What kind of rate are you seeing for your setup (Bitcoins / day) and how long do you expect it to take until you see a return on your investment at the current Bitcoin valuation? If more people start doing the same thing will that cut into your Bitcoin rate or are there plenty of jobs?</p>
Any idea of kWh usage versus bitcoin production?
<p>Each USB module is 2.5W, and gets 333MH/s, or $0.02 in bitcoin per month . Add about 10-20W for the Pi, USB hubs and PSU losses and work out your cost of electricity from that.</p>
<p>Great project for hobby solo miner (not in pool tho). But as money maker - Sorry but this is way to 2012... Today ~400$ gives ~1,1Th, noone is talking about Gh anymore... it will consume more electricity than make money... But if you are solo miner you could hit a lottery and win few bitcoins by luck.</p>

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