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How profitable is Monero mining Monero Mining Income Calculatio
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Date:2024-04-13 18:45:09 Channel:Exchange Read:
Monero has always been a high-profile member of the digital currency market, and its mining revenue is also a topic of great concern to investors. How are Monero mining revenues calculated? The issue revolves around complex algorithms, mining difficulty, and market volatility. Let’s dig deeper into how Monero mining revenue is calculated and what factors influence it.First of all, the calculation of Monero’s mining income involves multiple factors such as mining difficulty, computing power, and electricity costs. In the Monero network, mining difficulty is a key indicator, which directly affects the efficiency and profitability of mining. As more and more miners join the ranks of Monero mining, the difficulty of mining continues to rise, resulting in a reduction in the number of Monero coins obtained by a single miner, which in turn affects the overall mining income.The four most famous international exchanges:
Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL
Note: The above exchange logo is the official website registration link, and the text is the APP download link.
Secondly, Monero’s mining income is also closely related to the miners’ computing power. Computing power determines the miner's ability to complete computing tasks within a certain period of time, thereby obtaining corresponding Monero rewards. Miners with high computing power are usually able to calculate blocks faster and receive more rewards. However, increasing computing power also means higher electricity costs and hardware investment, which is a trade-off for miners.Furthermore, the calculation of Monero’s mining revenue also needs to take into account the cost of electricity. Mining requires a large amount of electricity support, especially when large-scale mining equipment is used, and the cost of electricity accounts for a part of the miner's income. With fluctuations in electricity prices and differences in energy consumption of mining machines, miners need to constantly optimize electricity expenses to ensure mining profitability.In addition to the above factors, market fluctuations will also have an impact on Monero’s mining revenue. The rise and fall of the price of Monero directly determines the value of income obtained by miners. Miners need to respond flexibly when market conditions fluctuate and choose the best mining opportunity to maximize profits.Monero seems to be born for darkness. We can say that its price comes from this, but its price will also be subject to this. We know that Bitcoin has always been a very popular currency in the underground market, but because Bitcoin still exists
The address, amount and flow direction are public, so there is a certain risk of information disclosure, and the anonymity of Bitcoin is greatly reduced. It is for this reason that some people have begun to develop other currencies to deal with this problem. Monero is one of them, and it is the best among them. Many investors want to know what is the income from Monero mining? Now let the editor of the currency circle bring you the calculation of Monero mining income.
## What is the income from Monero mining?
Monero is also a digital currency based on the CryptoNote protocol. The difference from Bitcoin and other digital currencies is its confidentiality. In the Monero system, all transactions are encrypted. No one can check your transaction records and account balances. It is not as open and transparent as Bitcoin or Ethereum, which protects the information security of the account owner. . Therefore, Monero is favored by hackers and darknet exchanges.
At the same time, the mining algorithm of Monero is different from that of Bitcoin. It uses the CryptoNight algorithm. This algorithm is AES intensive and very memory intensive, which significantly reduces the advantage of the GPU over the CPU. Therefore, CPU mining is more efficient than GPU mining, so we don’t need to buy professional mining machines. Ordinary PCs can also mine. Based on the current price of Monero, the income in one month is approximately RMB100.
Monero Mining Tutorial
1. Operating system
Windows
Linux
2. Mining software
minerOS(A/N card)
Minebao OS (A/N card)
xmrig(CPU/A/N card)
xmr-stak(CPU/N card/A card)
3. Mining Tutorial
MInerOS usage tutorial
1. For miners who have not installed minerOS, you first need to register a minerOS account. Miners who have already installed minerOS can skip this installation part and upgrade to the latest version in the management background.
Registration URL:
2. Prepare an 8GB to 32GB USB flash drive or mobile hard drive and download the disk burning tool.
Download URL:
3. After the download is completed, follow the prompts to burn the minerOS operating system to a USB flash drive or mobile hard disk.
4. Insert the burned U disk or mobile hard disk into the mining machine, and set the graphics card mining machine bios to USB boot. After the mining machine is turned on, it will automatically activate to the minerOS account you just registered. You can log in to minerOS to operate the mining machine.
The above is a simplified installation process. For detailed installation process of minerOS, please refer to "minerOS Installation and Usage Tutorial".
Installation and usage tutorial URL:
Set mining template:
Click on the mining template on the left -> plus sign in the upper right corner -> All -> Select XMR -> OK
Click OK, select the corresponding mining software, pay attention to the difference between N card and A card. For the mining pool, select a custom mining pool and fill in the ok mining pool mining URL.
ok mining pool website: stratum.okpool.me:16892
Just fill in the okpool mining pool alias for the wallet address. Other areas need to be filled in according to the graphics card model, and then click OK.
Apply to mining machine
Click on the host on the left -> three dots on the right -> configure and restart -> select the ETH template -> OK
Observe the mining machine
You can overview the observations on the left
Minerbao OS usage tutorial
1. Register an account
Registration URL:
2. Install Minerbao OS
First, you need to use a USB flash drive or mobile hard disk with a capacity of more than 16G to make a boot disk. Please refer to the tutorial.
3. Add username
Log in to Minebao OS, find "Wallet" on the left navigation bar, "Add wallet address", and verify your identity. Set your username in the wallet address and click Finish. As shown below:
4. Create a mining template
In the left navigation bar, click "Group", "New Group", customize the mining pool, OK mining pool mining website
ok mining pool website: stratum.okpool.me:16892
For wallet, select the wallet name set above.
Set up the grouping, click Apply, and the template is created.
5. Associated mining machine grouping
Enter the mining machine page, select the mining machine to mine BEAM, click "Associate Mining Machine Group", select the BEAM group "okpool" just created, and click "Confirm", as shown below:
6. The computing power data of BEAM can be observed on the mining machine page, indicating that the mining machine has been mining normally.
The above content is the specific analysis of the currency circle editor on the issue of Monero mining income. The biggest technical feature of Monero is its extreme emphasis on privacy. This is no longer a very serious emphasis, but a very extreme degree of emphasis. In fact, compared to Bitcoin, Monero has The three technologies of secret address, ring signature and ring signature confidential transaction are these three technologies that allow Monero to achieve non-correlation between transactions, hiding transaction parties and hiding transaction amounts, making Monero difficult to trace. This feature also makes Monero more suitable for illegal transactions than most virtual currencies, so everyone should pay attention to the risks.
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