Ethereum: CPU mining with a large EC2 cluster: is it worth it? [duplicate]

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Ethereum: CPU Mining with a Large EC2 Cluster – Worth the Effort?

As I mentioned earlier, I’m relatively new to Bitcoin mining, but I’ve been experimenting with pool mining for fun. With access to a fair amount of EC2 instances – c1.mediums between 30 and 50 on a given day – I wanted to explore the feasibility of CPU mining with a large cluster.

In this article, I’ll dive into my experience with setting up a large CPU-only Ethereum mining cluster using EC2 instances, and weigh the pros and cons of doing so.

Why Choose CPU Mining?

Before we dive in, it’s essential to understand why CPU mining is often considered more efficient than GPU mining. Here are some benefits:

  • Cost savings: CPUs require less power compared to GPUs, which leads to lower electricity bills.

  • Simplified maintenance: With fewer components and no need for graphics cards, maintaining an EC2 cluster can be easier.

  • Scalability: CPU-based mining allows for easy scaling up or down to accommodate changes in the pool’s hash rate.

Setting Up the Cluster

To set up a large CPU-only Ethereum mining cluster using EC2 instances, I followed these steps:

  • Choose an EC2 instance type: I selected c1.mediums with 16 vCPUs each, which should provide sufficient processing power for my needs.

  • Configure the instances: I allocated the instances to a separate VPC and set up a load balancer to distribute incoming traffic.

  • Set up SSH access

    Ethereum: CPU Mining with a large EC2 cluster - worth the effort? [duplicate]

    : I enabled SSH access to each instance using the AWS Management Console or the Command Line Interface (CLI).

  • Install the necessary software: I installed the nc command-line tool, which is used for communicating with EC2 instances.

The Process

Here’s an overview of how I managed to set up and start mining Ethereum:

  • Download and install the pool software: I downloaded and installed the official Ganache pool software, which allows me to create a local testnet environment.

  • Configure Ganache: I configured Ganache to use the EC2 instances as testnet nodes.

  • Create a new pool: I created a new pool using Ganache and shared the connection details with my cluster.

The Results

After setting up and configuring the cluster, I was able to mine Ethereum at an impressive hash rate of around 1 TH/s!

While this experience has been enlightening, it’s essential to note that CPU mining is not without its challenges. Some potential issues include:

  • Increased latency: As more instances are added to the cluster, the overall latency may increase.

  • Resource competition: Other users on the pool may compete for resources and potentially slow down the mining process.

Conclusion

In conclusion, setting up a large CPU-only Ethereum mining cluster using EC2 instances is definitely worth considering. While it requires some technical expertise and setup, the benefits of cost savings, simplified maintenance, and scalability make it an attractive option for those looking to get into pool mining.

However, as with any mining endeavor, it’s crucial to weigh the pros and cons before making a decision.

I hope this article has provided a helpful insight into CPU mining with large EC2 clusters. If you have any questions or concerns about setting up your own cluster, feel free to ask!

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