The Math Doesn't Work (For Most People)
Ethereum moved to Proof of Stake. That killed GPU mining profitability for the majority of hobbyists. What's left is a handful of altcoins where the electricity usually costs more than the coins are worth.
I ran a rig for four months in my apartment. The GPU (an RTX 3070) pulled about 130W mining Ravencoin. Add the rest of the system — call it 180W total, running 24/7. At my electricity rate that was roughly $41/month. I mined maybe $19 worth of RVN in a good month. The math was obvious from week two but I kept it going because I was learning things.
There are narrow cases where it still works: if your electricity is under $0.08/kWh (like parts of Texas or certain industrial plans), if you already have GPUs sitting idle, or if you're betting on a coin's future value. Outside of those, you're paying to generate heat.
And about the heat — I had the rig in a closet for the first week. Ambient temperature hit 40C. The GPU throttled. I moved it to the living room where it sounded like a hairdryer on low. My roommate was not thrilled.
Mining Options
GPU Mining
Still viable for some algorithms:
- Ravencoin (RVN) - KAWPOW algorithm
- Ergo (ERG) - Autolykos
- Flux (FLUX) - ZelHash
- Kaspa (KAS) - GPU/ASIC
ASIC Mining
Specialized hardware for specific algorithms:
- Bitcoin - SHA-256 ASICs
- Litecoin - Scrypt ASICs
Higher upfront cost, but more efficient than GPUs for supported coins.
CPU Mining
Limited but possible:
- Monero (XMR) - RandomX (CPU-preferred)
- Raptoreum (RTM) - GhostRider
Hardware Considerations
For GPU Mining
- AMD and NVIDIA both work
- VRAM matters for some algorithms
- Power efficiency matters more than clock speed (performance per watt)
- Good cooling will make or break your rig's stability
Power Supply
Calculate total system draw + 20% headroom. Mining runs 24/7, so efficiency matters.
Other Components
- Basic CPU (mining rigs use GPUs, not CPUs)
- 4-8GB RAM sufficient
- SSD for OS (small is fine)
- Mining rig frame or open-air case
Software Setup
Operating Systems
- HiveOS - Purpose-built mining OS (recommended)
- Windows - Works but less efficient
- Ubuntu + mining software - Free, requires more setup
HiveOS Setup
- Create account at hiveos.farm
- Download HiveOS image
- Flash to USB/SSD
- Add rig ID from dashboard
- Boot and connect
Free for one rig, small fee for additional.
Driver Headaches (What Actually Happened to Me)
My biggest issue was GPU driver crashes. The Nvidia 535 driver on Ubuntu 22.04 would randomly freeze after 6-8 hours of mining. Downgrading to 530 fixed it. If your miner suddenly stops and nvidia-smi hangs, it's the driver.
Mining Software
Different miners for different algorithms:
- T-Rex - NVIDIA, various algorithms
- lolMiner - AMD/NVIDIA, multi-algo
- NBMiner - Popular multi-algo miner
- XMRig - CPU mining (Monero)
Most have 1% developer fee. Avoid unknown miners - they may have hidden fees or malware.
Pool vs Solo Mining
Pool mining - Join others, share rewards proportionally. Consistent payouts.
Solo mining - All or nothing. Only for high hashrate operations.
For most miners, pools are the way to go.
Popular pools:
- 2Miners
- Ethermine pools
- Flexpool
- F2Pool
Basic Configuration Example
For T-Rex miner on Ravencoin:
t-rex -a kawpow -o stratum+tcp://rvn.2miners.com:6060 -u YOUR_WALLET_ADDRESS.worker_name -p xComponents:
-a kawpow- Algorithm-o- Pool address-u- Your wallet.worker_name-p x- Password (usually empty)
Monitoring and Optimization
Overclocking
Mining benefits from:
- Memory overclock (big impact)
- Core underclock (saves power)
- Power limit reduction
Each card is different. Start conservative, test stability.
Temperature Management
- GPU: Keep under 70°C
- VRAM: Keep under 100°C (check with HWiNFO or similar)
- Good airflow — don't skip this
Hashrate lower than expected? Check that you're not thermal throttling — run nvidia-smi -q -d TEMPERATURE and look at the throttle reason. Also make sure you're using the right algorithm for your GPU architecture.
Profitability Calculation
Use calculators like whattomine.com:
- Enter your GPU(s)
- Enter electricity cost
- Compare coins
Remember: calculators show current rates. Profitability changes daily.
Taxes and Legality
In most jurisdictions:
- Mining income is taxable
- Fair market value at time of mining
- Capital gains when selling
- Keep records of all mining activity
Consult a tax professional for your specific situation.
Alternative: Cloud Mining
Rent hashpower instead of running hardware. Generally not recommended - most are scams or unprofitable. Stick to reputable services if you go this route.
Why I Stopped
Four months in, I'd spent roughly $164 on electricity and mined about $68 worth of Ravencoin. The RVN is still sitting in a wallet. Maybe it'll be worth something someday — probably not.
The GPU (a 3070 I use for other things) got thermal paste reapplied and went back to gaming duty. The experience taught me more about Linux driver management, GPU undervolting, and thermal engineering than I expected. That part was worth it. The mining itself was not.
If you're going to try this anyway — and I get it, I ignored the same advice — at least undervolt your cards and run the electricity math on whattomine.com before you commit. The numbers don't lie, even when the crypto subreddits do.
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