Ethereum: CPU Mining with a large EC2 cluster – worth the effort? [duplicate]

Ethereum: CPU mining with a large EC2 cluster: is it worth it?

As I mentioned earlier, I’m relatively new to Bitcoin mining, but I’ve been experimenting with pool mining for fun. With access to a reasonable number of EC2 instances (between 30 and 50 per day), I wanted to explore the feasibility of CPU mining with a large cluster.

In this article, I will dive into my experience setting up a large CPU-only Ethereum mining cluster using EC2 instances and weigh the pros and cons of doing so.

Why Choose CPU Mining?

Before we dive in, it’s important to understand why CPU mining is often considered more efficient than GPU mining. Here are some advantages:

• Savings: CPUs require less power than GPUs, resulting in lower electricity bills.

• Simplified Maintenance: With fewer components and no need for graphics cards, maintaining an EC2 cluster can be easier.

• Scalability: CPU-based mining allows easy scaling up or down to accommodate changes in pool hash rate.

Cluster configuration

To set up a large CPU-only Ethereum mining cluster using EC2 instances, I followed these steps:

• Choose EC2 instance type: I chose c1.mediums with 16 vCPUs each, which should provide enough processing power for my needs.

• Configure the instances: I assigned the instances to a separate VPC and configured a load balancer to distribute incoming traffic.

• Configure SSH Access: I enabled SSH access to each instance using the AWS Management Console or Command Line Interface (CLI).

• Install the required software: I have installed the “nc” command line tool, which is used to communicate with EC2 instances.

Process

Here’s how I was able to set up and start mining Ethereum:

• Download and install the pool software: I have downloaded and installed the official pool software “Ganache”, which allows me to create a local testnet environment.

• Configure Ganache: I configured Ganache to use EC2 instances as test nodes.

• Create New Pool: I created a new pool using Ganache and shared my cluster connection details.

Results

After setting up the cluster, I was able to mine Ethereum with an impressive hash rate of around 1 TH/s!

While this experience was enlightening, it is important to note that CPU mining is not without its challenges. Some potential problems include:

• Increased Latency

  : As more instances are added to the cluster, the overall latency may increase.

• Competition for resources: Other users in the pool can compete for resources and potentially slow down the mining process.

Conclusion

In conclusion, setting up a large CPU-only Ethereum mining cluster using EC2 instances is definitely worth considering. Although it requires some technical expertise and tuning, the benefits of cost savings, simplified maintenance and scalability make it an attractive option for those looking to get into pool mining.

However, as with any mining activity, it is important to weigh the pros and cons before making a decision.

I hope this article has provided you with useful insight into CPU mining with large EC2 clusters. If you have any questions or concerns about setting up your own cluster, don’t hesitate to ask!

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