How to Mine Ethereum Classic
Learn how to mine Ethereum classic in our step-by-step guide including popular ETC mining hardware and software, the best ETC mining pools, and more.
What is Ethereum Classic?
Ethereum Classic is a decentralized, open-source blockchain that allows for the creation and use of smart contracts. It is the original Ethereum blockchain, which split from Ethereum following the DAO hack in 2016. Unlike Ethereum, Ethereum Classic uses a Proof-of-Work (PoW) consensus mechanism, similar to Bitcoin, which makes mining an essential part of its network and many investors mine ETC.
Read next: How to Stake Ethereum
What hardware do you need to mine Ethereum Classic?
There are several components and factors you’ll need to consider for your Ethereum mining hardware:
GPUs/ASICs: Depending on your choice of hardware.
Power supply unit (PSU): Ensure it can handle the power draw of your mining rig.
Motherboard: For GPU rigs, a motherboard that supports multiple GPUs.
RAM: Minimum of 4GB.
Internet connection: Stable and with unlimited data.
Cooling system: To manage the heat generated by your mining hardware.
Read next: What is the flippening?
ASIC Miners
ASIC (Application-Specific Integrated Circuit) miners are specialized hardware designed specifically for mining cryptocurrencies. They are the most efficient option for mining Ethereum Classic.
GPU Miners
While ASIC miners are more efficient, GPU (Graphics Processing Unit) mining is also a viable option for Ethereum Classic, especially if you already own a powerful gaming computer. High-end Nvidia GPUs like the RTX 3090, GeForce GTX 1080, and GTX 1080 Ti are popular choices. AMD GPUs like the Radeon VII are also suitable.
Read next: Best Crypto Mining Machines
What software do you need to mine Ethereum Classic?
There are many popular Ethereum Classic mining software options, including:
Ethminer: An open-source miner that supports multiple platforms.
GMiner and NBMiner: Other efficient options for both Nvidia and AMD GPUs.
MinerGate: Offers a graphical user interface and is simple to set up.
Claymore Dual Miner: Supports both Nvidia and AMD GPUs and allows for dual mining.
Configuring your ETC mining software
For most mining software, you will need to configure a .bat or .ini file with your mining pool information and wallet address. For example, with Claymore, your configuration string might look like this:
EthDcrMiner64.exe -epool eu1-etc.ethermine.org:4444 -ewal 0xd69af2a796a737a103f12d2f0bcc563a13900e6f -epsw x -eworker rig1
In this example, you’d replace eu1-etc.ethermine.org:4444 with the appropriate mining pool URL, and 0xd69af2a796a737a103f12d2f0bcc563a13900e6f with your Ethereum Classic wallet address.
Read next: Best Crypto Mining Software
What wallet do you need to mine Ethereum Classic?
Before you start mining, you need an Ethereum Classic wallet to receive your mining rewards. Some popular wallets include:
Trust Wallet
Exodus
Ledger
Trezor
Read next: Best Crypto to Mine
How to join an Ethereum Classic mining pool
Mining pools allow miners to combine their computational power to increase their chances of solving blocks and earning rewards. Some popular Ethereum Classic mining pools include:
Ethermine.org
f2pool
Nanopool
MiningPoolHub
2Miners
Joining a pool involves setting the pool's URL and your wallet address in your mining software's configuration file. For example, using f2pool, you would set:
Pool/URL: stratum+tcp://etc.f2pool.com:8118
User / Worker: accountName.workerName
Password: Your choice
Read next: Best Crypto Mining Pools
Monitoring and optimizing your ETC mining
Most mining pools provide a dashboard where you can monitor your mining performance, including hash rate, earnings, and payouts. As well as this, there are factors you can consider to optimize your mining hardware, including:
Overclocking: Increase your GPU’s performance by adjusting its clock speeds.
Cooling: Ensure adequate ventilation and cooling to prevent overheating.
Power efficiency: Optimize your power settings to balance performance and energy consumption.
As well as this, If setting up your own hardware is not feasible, consider cloud mining. Services like Eobot offer Ethereum Classic mining contracts, allowing you to rent hash power without the need to manage hardware.
Read next: Best Cloud Mining Platforms
How to keep your ETC mining rewards secure
Miners are prime targets for scammers and hackers. You should follow some common-sense steps to keep your crypto secure, including:
Secure your wallet: Use strong passwords and enable two-factor authentication where possible.
Regular maintenance: Keep your hardware clean and update your mining software regularly.
Stay informed: Follow updates from your mining pool and software providers to stay ahead of any changes.
Read next: Ultimate Crypto Mining Guide
Don’t forget your ETC tax bill…
Saving the worst news until last… your Ethereum Classic mining rewards come with a tax bill. We cover everything you need to know in our crypto mining taxes guide, but in brief, you’ll likely pay Income Tax and Capital Gains Tax on your ETC mining rewards depending on your transactions.
