Hardware and software needed to start mining cryptocurrency

A successful cryptocurrency mining venture depends on the right combination of hardware and software elements.  For instance, you can have a very powerful crypto miner but an unstable internet connection which limits your participation in confirming transactions on a blockchain. If you are looking for the hardware and software needed to start mining cryptocurrency, do you know what cryptocurrency mining is and how it works?

Below, we explore the elements of a winning cryptocurrency mining setup.

Hardware needed to start mining crypto

Miners

Miners are computing devices like graphics processing units (GPUs) or application-specific integrated circuits (ASICs) that do the actual work of crunching the numbers. They form part of a mining rig. Note that a rig can only have one type of device such as either GPUs or ASICs even though they can be different models and varying computing strengths.

The miners in a rig are determined by the type of cryptocurrency you want to mine. Here’s an article on the most profitable cryptos to mine and how to choose which one to mine. For example, if you want to mine Bitcoin (BTC), the rig will consist of ASICs instead of GPUs while those interested in mining Monero (XMR) will need a GPU rig and not ASICs.

Motherboard

Crypto mining motherboards are special types of motherboards compared to the ones used by a normal personal computer. A mining motherboard has more slots to handle more miners and a superior cooling system that enables it to run 24/7 without overheating or even requiring time to rest. 

The motherboard lets connected miners operate as a single unit. For example, if you have a rig with 10 GPUs each having a hash power of 10 hashes per second (H/s), the rig’s total output power will be 100 H/s.

Power supply

Now that we have miners and the motherboard, it’s time to power the rig. A rig’s power supply should be able to comfortably and reliably provide enough power to all the miners in the setup. Therefore, it’s critical to check a miner’s wattage and voltage requirements before settling on a particular power supply. 

However, it’s advisable to go for a power supply with a little more capacity that is required to avoid overloading and increase its efficiency. For instance, if your rig needs a power supply with a 600-watts rating, go one with between 800 and 950 watts. 

Also, look for a power supply with extra features like remote monitoring and modularity (the option to detach and attach power cords at will).

Internet connection

A powerful crypto mining rig is a waste if it’s not accompanied by a strong and reliable internet connection. The internet is what links the rig to the blockchain where the actual heavy lifting happens.

A good internet connection needs to have low latency to ensure a higher speed when sending data between the rig and the blockchain. Also, it needs to have a higher bandwidth so that it can handle high amounts of data.

Other hardware elements needed to mine cryptocurrency include the RAM, a central processing unit (CPU) that is installed on the motherboard, and a hard disk.

Software components needed to mine cryptocurrency

Although the hardware aspect of crypto mining plays a major part, the software components are also critical since they define how efficiently the rig connects to the blockchain.

Operating system

This is the software that powers the computer that’s connected to the rig. It is advisable to keep the operating system up to date to ensure you benefit from occasional security and performance patches.

Mining software program

This is where you input the details needed to link with a particular blockchain. Common mining software programs include CGMiner, BFGMiner, EasyMiner, and Claymore’s Dual Miner. Although most mining software is compatible with Windows, Linux, and MacOS, check the software’s documentation to see how well it works with your preferred operating system.

Wallet 

You need a wallet to secure and store your mined coins. Your wallet of choice should be able to hold the mined coins.

Conclusion

Our above discussion covers the core hardware and software elements needed to mine crypto. However, feel free to talk to Endless Mining to have an expert guide you on the best hardware and software to help you run a profitable cryptocurrency mining business.