We were wondering how we could dip our toes into the profitable world of cryptocurrency mining. After all, the crypto scene is exploding and fortunes are being made.
Our group created a Bitcoin miner back in 2011 – but it all ended badly when we couldn’t decide how to divvy up the profits (not that we got any).
In any case, wanting to take a positive step forward in 2022, we looked around for what we could use for a mining rig. It was no accident that we found a few extra Raspberry Pis hanging around – so we decided to put them to work.
With Bitcoin threatening another run at another All Time High, we decided to try for another crypto that most of the miners wouldn’t target … and we settled on Monero.
We found some instructions on how to implement a Monero miner here – and were were surprised to learn that we were able to get going after entering just 7 commands in Terminal!!!!
We didn’t have big expectations on the rewards we could earn with the limited computing power of our Pis (compared to ASIC miners used by the pros). Having said that, we were surprised to see how easily it was to start earning some Monero. This was just one RasPi working after a couple of days.
At the end of the month, I will compare my returns against the extra electricity I am using to power my Pi but I’m looking foward to see how much I can mine. I’ll share what I find.