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How to Mine Monero

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Lorena Nessi
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Key Takeaways

  • Privacy and anonymity are central to Monero.
  • Monero can be mined either solo or in decentralized mining pools.
  • Monero’s low entry barrier makes it more accessible for miners.
  • Monero uses the RandomX algorithm, which is optimized for CPU mining.

“To mine Monero, users need a computer with a CPU or GPU, Monero mining software, and a Monero wallet to store earned XMR”. They can mine solo, join a mining pool, or use cloud mining services for more efficient results. 

This article covers hardware and software requirements and the mining process. It provides troubleshooting solutions for miners interested in this cryptocurrency, which has been known for its unique characteristics since its inception.

What Is Monero?

Monero is a decentralized cryptocurrency focused on privacy and anonymity. It uses advanced cryptography to obscure transaction details, ensuring complete financial privacy. Unlike blockchains like Bitcoin, where all transactions are transparent, Monero has unique privacy features that conceal transaction information. As a result, it is a popular choice for users concerned about privacy and censorship.

 

Despite this key difference from Bitcoin, Monero shares a major similarity: both operate on a proof of work (PoW) basis. This means that in both blockchains, miners solve cryptographic puzzles to earn rewards in their native cryptocurrencies—Bitcoin (BTC) and Monero (XMR), respectively. However, mining Monero does not require the same resources as Bitcoin, making it an attractive alternative.

Why Mine Monero?

Mining Monero can be profitable with the right hardware and software. Monero operates on a decentralized blockchain that rewards miners with Monero coins. 

The RandomX algorithm is optimized for CPU mining, making it more accessible and less resource-consuming than other cryptocurrencies, as it can be done using a CPU or GPU instead of an ASIC, which requires major investment and energy. Profits from mining Monero can fluctuate based on network difficulty and coin price changes.

Basic Requirements for Mining Monero

Mining Monero requires specific hardware and software to ensure efficient performance and profitability. Key components include a powerful CPU, sufficient RAM, reliable mining software, and a Monero wallet for storing rewards.

Hardware Requirements

Monero can be mined using both CPUs and GPUs, but CPU mining is much more efficient due to the RandomX algorithm, specifically optimized for CPU performance. While powerful for other types of cryptocurrency mining, GPUs do not offer the same efficiency when mining Monero. Therefore, below is a comparison with some powerful CPU options.

CPU Requirements: A Comparison

CPUs are the preferred hardware for mining Monero. The hash rate is a key factor in mining Monero, as it indicates how quickly a processor can solve cryptographic puzzles, directly impacting mining efficiency and rewards. The following comparison examines three high-performance CPUs with notable hash rates and how they perform in Monero mining.

  • Intel Xeon E5-2680 v4: 13,762.54 H/s
  • AMD EPYC 9654: 182,431.82 H/s
  • AMD Ryzen Threadripper Pro 3995WX: 109,652.73 H/s
CPU Options | Source: Xmrig Benchmark
CPU Options | Source: Xmrig Benchmark

High Core Count: 

  • Intel Xeon E5-2680 v4: 14 cores and 28 threads. It offers limited efficiency for parallel processing.
  • AMD EPYC 9654: 96 cores and 192 threads. It provides top-tier mining efficiency, excelling at parallel mining tasks.
  • AMD Ryzen Threadripper Pro 3995WX: 64 cores and 128 threads. Delivers excellent multi-core performance, though slightly behind the EPYC.

Multi-threading:

  • Intel Xeon E5-2680 v4: 28 threads through hyper-threading. It lags behind AMD’s multi-threading capabilities.
  • AMD EPYC 9654: 192 threads. Maximizes mining performance with heavy multi-threaded tasks.
  • AMD Ryzen Threadripper Pro 3995WX: 128 threads. It offers strong multi-threaded mining performance, though less than the EPYC.

Large Cache:

  • Intel Xeon E5-2680 v4: MB of L3 cache is significantly smaller and less ideal for Monero’s RandomX algorithm.
  • AMD EPYC 9654: 384 MB of L3 cache is highly optimized for Monero mining, as RandomX benefits from a larger cache.
  • AMD Ryzen Threadripper Pro 3995WX:  256 MB of L3 cache, performs well but lags behind the EPYC in cache size.

Cost and Power:

  • Intel Xeon E5-2680 v4: More affordable and energy-efficient with a 120W TDP, but offers much lower mining performance.
  • AMD EPYC 9654: This expensive model has a 360W TDP. It requires more power but delivers the best mining performance.
  • AMD Ryzen Threadripper Pro 3995WX: This processor balances cost and power with a 280W TDP, making it more accessible while providing strong performance.

Cooling:

  • Intel Xeon E5-2680 v4: Produces less heat, requiring simpler cooling solutions.
  • AMD EPYC 9654: Generates significant heat, necessitating advanced cooling due to high power consumption.
  • AMD Ryzen Threadripper Pro 3995WX: This processor requires robust cooling but is easier to manage than the EPYC due to its slightly lower power consumption.

Summary:

  • Intel Xeon E5-2680 v4: A budget-friendly, lower-power option but with limited mining performance. Best for those prioritizing cost and energy efficiency over mining power.
  • AMD EPYC 9654: The top performer regarding hashrate, cores, and cache size, making it ideal for serious Monero miners who want maximum mining efficiency, though it comes with high power and cooling demands. 
  • AMD Ryzen Threadripper Pro 3995WX: A strong middle-ground option, offering high mining performance at a slightly lower cost and power consumption than the EPYC, making it an attractive option for serious miners without the highest-end requirements.

Motherboard and RAM Considerations

RAM is a crucial component for Monero mining, especially because Monero’s RandomX algorithm requires a significant amount of memory to operate efficiently. 

While 2 GB of RAM can be set aside for mining, miners often allocate 4 GB or more to improve performance and increase profitability. The higher the RAM capacity, the better the system can handle the mining process, leading to more consistent results.

When selecting a motherboard for Monero mining, miners should focus on CPU compatibility (high-core processors like AMD Ryzen or EPYC), sufficient RAM support, and strong VRM quality for stable power delivery. Ensure it has adequate PCIe slots, good cooling support, and reliable connectivity (USB, Ethernet). Durability is essential for handling the constant strain of mining.

Software Setup

Once miners have the necessary hardware, installing and configuring the mining software is next.

Monero Wallets

Monero recommends Monero’s official Command Line Interface (CLI) and Graphical User Interface (GUI) wallets. These wallets store XMR and have built-in functionality that allows users to mine Monero without needing specialized external software. However, they are not designed to mine Monero with a GPU.

Miners must use third-party software like XMRig to mine Monero using a GPU. Users should note that they will still need a wallet to store the mining rewards, but the actual mining with a GPU happens through these external programs, not the wallet itself.

  • Installing the Monero mining software: For CPU mining, miners can use Monero’s official CLI or GUI wallets. Alternatively, XMRig supports CPU and GPU mining for more flexibility, while CSMiner is a simpler option designed specifically for CPU mining.
  • Configuring the mining software: Miners must set up their wallet address, choose a mining pool if desired, and configure other necessary settings.

Mining Pools

Joining a mining pool is optional, but Monero does not encourage it. According to Get Monero’s website, P2Pool is the “best of both solo and pool mining.” P2Pool is decentralized, permissionless, and trustless; it offers a Pay-Per-Last-N-Shares (PPLNS) payout scheme that rewards miners based on their contribution to the last set of shares. 

P2Pool does not charge miners for participating or transferring earned rewards. Additionally, it has a minimum payout of less than 0.0004 XMR, which means once a miner has earned at least 0.0004 Monero (XMR) through mining, the pool will automatically send the earned amount to the miner’s wallet.

Source: Monero Website
Solo and pool options | Source: Monero Website

Mining Process

Once the hardware and software are properly configured, mining can begin, and they should always monitor their mining performance.

  • Starting to mine: Miners should open the XMRig executable file and start mining. The software will display the hash rate, temperature, and other performance metrics. These values can be used to monitor and adjust settings for better efficiency.
  • Regular monitoring: Mining Monero requires ongoing monitoring to ensure hardware operates within safe limits. Overheating can reduce the equipment’s lifespan, while undervolting settings may lead to lower hash rates.

Troubleshooting Common Issues

As with any complex process, mining Monero can have specific problems. Some common issues can be fixed:

  • Ensure the mining software is properly configured by double-checking pool addresses and wallet details.
  • Update mining software and drivers to the latest versions for optimal performance.
  • Monitor CPU temperatures to prevent overheating and maintain performance stability.
  • Adjust or lower CPU intensity settings if mining slows down or the system crashes frequently.
  • Check for network connection issues if mining software fails to connect to the pool.
  • Verify that antivirus software isn’t blocking the mining software, as it can sometimes flag it as malicious.
  • Reboot the system if it becomes unresponsive or sluggish during mining.

For many users, mining Monero can be a daunting task. However, Monero offers many learning tools to make this journey easier. Additionally, there are many support groups available. 

Conclusion

Mining Monero offers a unique opportunity due to its focus on privacy, decentralization, and accessibility. Unlike many cryptocurrencies, Monero is optimized for CPU mining through the RandomX algorithm, allowing miners to participate using regular hardware instead of needing ASICs. However, selecting the right CPU, motherboard, and RAM ensures miners’ efficient performance and profitability. 

While joining a mining pool is optional, Monero’s P2Pool is a suitable option that offers interesting rewards. 

Miners can use Monero’s official CLI or GUI wallets to do CPU mining. XMRig software offers additional flexibility for those interested in GPU mining. 

The mining process requires regular monitoring to maintain stable performance and avoid issues like overheating. 

With Monero’s community resources and support tools, miners can successfully navigate challenges and optimize their mining experience in a unique blockchain.

FAQs

What are the minimum hardware requirements for mining Monero?

There are minimum requirements to mine Monero. It can be achieved with a regular CPU or GPU. As a result, Monero is much more accessible than cryptocurrencies like Bitcoin, which require specialized ASIC hardware.

Can I mine Monero on a CPU?

Yes. Using a 4-core CPU to mine Monero is an option and one of the advantages of mining Monero compared to other cryptocurrencies that require GPUs or ASICs for efficient mining.

What mining software is recommended for Monero?

It depends on the miners’ experience and customization requirements. XMRig is a popular choice for beginners due to its ease of use and broad community support.

How do I join a Monero mining pool?

Miners can download and configure compatible mining software such as XMRig to join a Monero mining pool and select a Monero pool from the list of available options. Miners should enter the pool’s address in the software settings and provide a Monero wallet address for receiving rewards. However, solo mining is the best option to contribute to the strength of the network.





Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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Lorena Nessi

Lorena Nessi is an award-winning journalist and media and technology expert. She is based in Oxfordshire, UK, and holds a PhD in Communication, Sociology, and Digital Cultures, as well as a Master’s degree in Globalization, Identity, and Technology. Lorena has lectured at prestigious institutions, including Fairleigh Dickinson University, Nottingham Trent University, and the University of Oxford. Her journalism career includes working for the BBC in London and producing television content in Mexico and Japan. She has published extensively on digital cultures, social media, technology, and capitalism. Lorena is interested in exploring how digital innovation impacts cultural and social dynamics and has a keen interest in blockchain technology. In her free time, Lorena enjoys science fiction books and films, board games, and thrilling adventures that get her heart racing. A perfect day for her includes a spa session and a good family meal.
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