A Raspberry Pi is a small mobile computer that can be linked together to mine cryptocurrencies for you. You can buy Raspberry Pi 3 for about $35 from Amazon and start mining almost immediately. You should have basic computer knowledge to use the Raspberry as they don’t have a graphic interface like your Windows desktop or Mac program.
I recommend that you start mining monero or bytecoin instead of mining bitcoins. Bitcoin requires a custom mining rig to even see some profits. CryptoNight based cryptocurrencies like monero, zcash and bytecoin don’t require heavy computing power and can be mined on your Raspberry Pi with minimal energy. You can visit this site to convert your hash rate into how much profit you will make while mining.
Raspberry Pi may not be a profitable endeavor, but it is a best way to learn the technology behind cryptocurrencies and the process of mining before you start investing in altcoins and mining rigs.
Equipment and Software for Raspberry Pi Mining
- Raspberry Pi 3
- USB Drive with NOOBS (New Out Of the Box Software) installer
- Raspbian OS
- PuTTY (SSH Client)
- IP Address
- Mining Software like CPUMiner-Multi
- Mining Pool like MinerGate
Installing your software
Once you have your equipment in-hand, you will need to install the Raspbian operating system using NOOBS, which you can download here.
After you are done with the operating system setup, you need to connect your Raspberry to your computer through PuTTY to install the necessary modules to start mining cryptocurrency.
Open PuTTY and enter your IP address.
By default, the username and password is username: pi and password: raspberry. You can change this information now by entering the command:
You then need root access to run certain commands to update our Raspberry Pi and install the cryptocurrency miner.
Enter the following command:
Now you will update your Raspberry to latest version from the repository by typing this command:
Sudo apt-get update–y
Once you have the latest version, you are ready to install CPUMiner-Multi to connect to mining pools through which you will mine new monero and bytecoin.
You will have to clone the CPUMiner from Github Repository by using the command below:
Then install the necessary modules by entering this command:
apt-get install automake autoconf pkg-config libcurl4-openssl-dev libjansson-dev libssl-dev libgmp-dev make g++ git libgmp-dev
Notice: If you are using a 64-bit operating system, use this code to install the modules:
./configure –disable-assembly CFLAGS=”-Ofast -march=native” –with-crypto –with-curl
Now your Raspberry Pi is ready to connect to a mining pool.
Connecting to a Mining Pool
First create an account with a mining pool like MinerGate.
Then connect your MinerGate account to CPUMiner-Multi that you just installed.
For a monero mining pool enter and replace the email with the same email address used for MinerGate:
minerd -a cryptonight -o stratum+tcp://xmr.pool.minergate.com:45700 -u YOUR_EMAIL -p x
For a bytecoin mining pool enter and replace the email with the same email address used for MinerGate:
minerd -a cryptonight -o stratum+tcp://bcn.pool.minergate.com:45550 -u YOUR_EMAIL -p x
Mining will begin automatically. You can check your hash rate and coin balance on your MinerGate account.
Pros of using Raspberry Pi:
- Uses low electricity
- Inexpensive to assemble
- Small and discrete hardware
- Best way to learn how to mine
Cons of using a Raspberry Pi:
- Low hash rate
- Not very profitable
- Complex set up
Coin Colony has not endorsed the use of Raspberry Pi. This article is for educational purposes only.