Monthly Archives: March 2017

Expect my Ethereum mining guide next week!

My ridiculous 8-GPU mining frame with a couple lonely Radeon RX 470 cards, mining ethereum.

Look what I’ve been up to today—the UPS guy dropped off some new hardware to play with! Unfortunately it’s not everything I that was hoping for (the popular 6+ GPU mining motherboards I mentioned in a recent post are sold out everywhere), but it’s enough to get started with.

I’m already up and mining ETH on a couple RX 470 GPUs under the latest LTS release of Xubuntu. Still lots of optimization to do, but the process was a lot less painful than my first experience with litecoin mining back in 2013.

I’m celebrating a friend’s wedding out of town this weekend, but I’ll be back next week. Look for the first sections of my detailed Ethereum mining guide then!

Coinbase to finally offer support for Litecoin?

A press release from New York’s Department of Financial Services dated yesterday reveals that Coinbase has been granted approval to offer Litecoin services to its users.

Coinbase is widely regarded as the premier Bitcoin exchange. Last July, they added support for Ethereum, prompting many to wonder when (or if) support for Litecoin was coming. The press release seems to be confirmation that Coinbase is at least laying the groundwork for LTC support.

GPU Mining: back in style?

Ethereum 3 month price history

Ethereum: 3 month price history

Yes, it’s been awhile since I’ve posted. =) The GPU mining craze all but died three years ago with the rise of ASIC hardware for scrypt (litecoin) miners. But if the last few weeks are any indication, it looks like we may be in for a major resurgence in popularity.

Bitcoin is currently trading at over $1200—a roughly 400% increase in the past year. Equally interesting is the performance of a couple alternative cryptocurrencies. Ethereum is at ~$32 (up 300% in the last year), with a market cap of $3 billion—about 15% of Bitcoin! Dash is at $100 (+250% over the last year, with much of that gain in the past week).

Dash is based on the X11 algorithm, which means ASIC hardware dominates its mining scene—and getting your hands on an X11-capable ASIC miner is currently fairly difficult, as they’re mostly sold out everywhere. But Ethereum is exclusively minable with modern consumer-grade video cards, and it’s currently quite profitable to do so.

Read on for some “back of the napkin” numbers regarding Ethereum GPU mining profitability, and some current hardware suggestions.