Did you know? After the 2022 Merge, Ethereum (ETH) no longer produces blocks through Proof-of-Work (PoW). However, you can still generate stable income by mining fork coins based on Ethereum's technology. Surprisingly, many individuals earn thousands monthly using idle GPUs and home electricity, even building personal "home mining farms."
This isn't a myth—it's reality. Mining remains a promising side hustle. While ETH's mainnet has transitioned to Proof-of-Stake (PoS), forks like ETC (Ethereum Classic) and ETHW (EthereumPoW) still operate on PoW. By learning to deploy mining rigs, select pools, and configure wallets, you can strike digital gold in this evolving landscape.
The term "ETH mining" now broadly refers to mining PoW projects developed from Ethereum's technology, many of which are new with lower difficulty and higher profitability.
Essential Mining Hardware Setup
| Component | Recommended Model | Price Range (USD) | Required? |
|---|---|---|---|
| Motherboard | ASRock H110 Pro BTC+ | $70–$110 | Yes |
| GPU | RTX 3060Ti / RX 6600XT | $200–$350 (per card) | Yes |
| Power Supply | 750W / 1000W Gold-rated | $70–$130 | Yes |
| SSD | 120GB | $10–$20 | Yes |
| RAM | 8GB DDR4 | $15–$20 | Yes |
| Mining Frame | Open-air rig frame | $20–$40 | No (DIY) |
| OS | HiveOS / PhoenixMiner | Free | Yes |
👉 Maximize your mining profits with optimized setups
Step-by-Step Mining Guide
1. Recommended Mining Software
- PhoenixMiner: High efficiency for ETHW/ETC mining.
- GMiner: Supports multiple algorithms like Autolykos.
- LolMiner: Low-fee option for AMD/NVIDIA GPUs.
2. Choosing a Mining Pool
- Pool Selection Criteria: Low fees (<1%), reliable uptime, and frequent payouts.
- Top Pools: 2Miners (ETC), F2Pool (ETHW), Nanopool (multi-coin).
3. Secure Wallet Options
- Hot Wallets: MetaMask (for convenience).
- Cold Wallets: Ledger Nano S (highest security).
Future Trends in Mining
- AI Mining: Projects like Bittensor reward computational contributions.
- Decentralized Storage: Filecoin and Arweave offer storage-based earnings.
- ZK-Rollup Chains: Emerging PoW alternatives with lower energy costs.
👉 Stay ahead with the latest mining trends
FAQ: Quick Answers for Beginners
Q: Is Ethereum mining still profitable in 2024?
A: Yes, but focus on ETHW/ETC or newer PoW coins with lower competition.
Q: What’s the ROI for a 6-GPU rig?
A: ~6–12 months, depending on electricity costs ($0.10/kWh ideal).
Q: How do I reduce mining risks?
A: Diversify coins, use efficient cooling, and monitor hardware health.
Final Tip: Mining isn’t for everyone, but mastering it equips you with a "digital goldsmith" skill for the Web3 era. Whether for income, education, or innovation, ETH mining remains a valuable endeavor.