Mining Cryptocurrencies with Raspberry Pi  Step by Step Guide ▷ 2021

At current field of economics, there is a certain term that has gained strength for some time in a dizzying way; this term is cryptocurrency. Over the last decade, the use of these assets has increased exponentially.

There are various methods to acquire cryptocurrencies, but the most common are: buying through the different exchanges, which act as an exchange house; and through the mining process. The latter consists of the confirmation of transactions within the blockchain network in which a cryptocurrency is processed.

The cryptocurrency mining process It is done with machines specially designed to support the blockchains of each Token, Nevertheless, it is possible, with the correct tools, to create a node for mining certain cryptocurrencies with a Raspberry Pi board and a few other materials. Would you like to know how? Now we explain it to you.

What do I need to mine cryptocurrencies with a Raspberry Pi? Main materials and requirements

Raspberri Pi 4

Cryptocurrency mining is a complex process, although once started it is as simple as waiting. It requires a considerable investment to achieve this, even the maintenance costs are quite high. The cryptocurrency mining process is accomplished by a computer programmed to function as a node, and consists of a series of algorithms that approve and complete transactions within the blockchain network of a certain token and transfer the amount of the transaction to an e-wallet.

In order to turn your Raspberry Pi into a cryptocurrency mining machine, all you need is:

  • Raspberry Pi 3B + / 4.
  • An account of MinerGate.
  • Source of feeding.
  • Micro SD.
  • Case HDD for SSD.
  • SSD hard drive of at least 120GB (variable depending on what cryptocurrency you want to mine).
  • Ethernet connection or by Wifi.
  • Monitor.
  • Peripherals of computer.

In principle, these are all the materials to carry out this project, since most of the process involves commands to run the mining application on our Raspberry Pi.

Is it profitable to mine cryptocurrencies using a Raspberry Pi? How long will my investment return?

Raspberry digital mneria

It must be made clear that mining cryptocurrencies with your Raspberry PI is not profitable at all, And this is due both to the power of the Raspberry Pi and to the mining requirements of the most valuable cryptos. The Raspberry Pi processor is perfect for mining certain coins that are optimized to work with CPUs., which is the only way to mine with the Pi.

The problem is that the currencies that fulfill this characteristic are worth extremely little in relation to crypto assets such as Bitcoin (BTC) or Etherium (ETH). What’s more, a machine with GPU processing is necessary to work on the blockchain network of BTC and ETH, and a hard drive of at least 500Gb.

So no, mining cryptocurrencies with Raspberry Pi will not allow you to recover any investment. If you want to do it, It will be rather because of the experience of the project for your Raspberry Pi, and because of the knowledge that you will be able to acquire about the operation of crypto asset mining, but don’t expect to make a profit using this mining method.

What are the cryptocurrencies that can be mined from a Raspberry Pi single board?

Contrary to what it may seem, thanks to the low power of the Raspberry Pi, there are a lot of cryptocurrencies that can be mined with this little computer if it is adequately adapted. Of course, the whole process is limited to crypto assets whose blockchain is optimized for CPU processing, that is, relatively low-value cryptocurrencies that don’t require a lot of power.

This, unfortunately, puts Bitcoin outside the capabilities of the Raspberry Pi due to the great weight and demand of its blockchain, which requires a hard disk of at least 500 GB and GPU processing.

Check out which are the most profitable crypto assets to mine with your Raspberry Pi:

  • MagiCoin (XMG): It is a cryptoasset of little value mineable per CPU, although its popularity is increasing and its value could be increased.
  • Monero (XMR): This coin has been around since 2014 and is the most popular option for mining on Raspberry Pi.
  • ZCash (ZEC): It is a fairly new coin with a good market value and potential to grow in the future.
  • Nexus Coin (NXS): It currently doesn’t have much information on it at the moment, except that it can be mined by both CPU and GPU.

Learn step by step how to create a node to mine cryptocurrencies with a Raspberry Pi from scratch

A node is a device with ARM architecture that run the required software for each crypto asset, and download the entire blockchain. The nodes participate in the network performing secure transactions and complying with the consensus rules, which increases the security of the cryptocurrency network itself. One of the biggest advantages that a node offers you is the security and privacy of transactions by not depending on third-party networks.

Next, we will explain step by step how to build your own mining node and start with this project so that you properly understand its functions:

Create your MinerGate account

The first step is to include your data in a mining pool. Currently the most recommended option for beginner miners is the portal MinerGate, which includes a repertoire of cryptocurrencies mineable by CPU.

Let’s see:

  • Open and fill the Registration Form from MinerGate.

Minergates official website

  • Login and confirm your email address electronic.
  • Start session.
  • Upon entering, you will be able to see the dashboard that indicates which cryptocurrency you are mining and your earnings so far, also check if it works as your default ewallet.
  • At the bottom of the page, you find the mining pool information. Copy it and keep it safe, as it will be needed later.

Prepare Hardware

Assemble the HDD enclosure around your Raspberry Pi and connect the SSD hard drive via the USB connection of your Pi, then adapts the computer peripherals, that is, monitor, keyboard and mouse, to be able to insert the commands easily. Finally, after inserting the MicroSD with Raspberry Pi OS installed, connect the board to the power to start it.

Install Raspberry Pi OS and its mining tool

For this part, all we are going to need is the NOOBS file that is available on the Raspberry Pi official website:

  • Download the NOOBS file from the official page of Raspberry Pi or from the following link.

Download NOOBS

Noobs for Raspberry Pi

  • Insert your SD card into your PC and formats to FAT32.
  • Unzip the NOOBS file and insert all files into Micro SD.
  • Safely remove the SD and insert it into your Raspberry Pi.

Insert the commands

Once the Raspberry Pi starts, you will see the selector of the available operating systems, the system we need is the Raspberry Pi OS Lite or the Raspberry Pi OS with desktop. This is what is required to start the dashboard. Once the operating system is installed and the last configurations have been made, open the command panel and install the tool “Cpuminer”by Caroline Dunn’s GitHub project.

The first thing we will need is to update the repositories of our Raspberry Pi to avoid processing problems:

  • sudo apt-get update && sudo apt-get upgrade –y

Once updated, enter the following code to clone and install the project:

  • git clone https://github.com/carolinedunn/cpuminer-multi
  • sudo apt install git automake autoconf libcurl4-openssl-dev libjansson-dev libssl-dev libgmp-dev cd cpuminer-multi

After this, the following codes will allow you to compile and install:

  • sudo ./autogen.sh
  • sudo ./configure
  • sudo ./build.sh

Once you write the commands, you just have to wait for compilation to finish. This process can take a few minutes on the Raspberry Pi.

Run the mining tool

The miner is out of the box and you only need one more code to start the mining process:

  • ./cpuminer -a cryptonight -o stratum+tcp://xmr.pool.minergate.com:45700 -u YOUR_EMAIL

In the countryside “YOUR_EMAIL “, enter the email address with which you log in to the portal MinerGate. It is all you need, since the command does not require your password. After a few seconds, the miner will start working, and you can see it online by entering your cryptocurrency dashboard in MinerGate.

Ready! Now you have your own cryptocurrency mining node adapted from scratch with your Raspberry Pi. This project is interesting and illustrative, and very helpful in understanding the inner workings of crypto asset mining. Now, besides the academic and learning value, there is little that mining crypto with Raspberry Pi can do for you, since CPU mineable crypto assets are too few and not worth enough to justify investment, which makes this a low profitability project.

If you have any questions, leave them in the comments, we will answer you as soon as possible, and it will also be of great help to more members of the community. Thanks! 😉

Author: Mario José

Graduated in journalism, specialized in investigation, I seek the truth of all things. Now 100% focused on technology, computing and Internet issues.

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