Want to Earn $$$ Using the CPU of Your Mining Rigs or Home Computers? Gridcoin [GRC] CPU Mining Revenue in USD! (Up to USD$70/m per CPU for Intel i7!)
One of the most significant benefits of 'mining' Gridcoin is that it can still be done very profitably on a CPU - something that other coins have left far behind them. The reason for this is that unlike traditional POW mining used by coins such as Bitcoin, Gridcoin 'mining' is done by contributing compute to scientific endeavours through the BOINC platform. Science computations are fickle beasts, ranging from the most simple calculation to colossal complexity which only a CPU can manage. As a result, many BOINC projects that reward compute with through Gridcoin are not able to make use of a GPU, and no BOINC projects at all can make use of ASICS.
Unfortunately, benchmarking CPU performance is not as easy as GPU performance. We cannot just compare the number of logical cores and clock speeds. This might seem counter intuitive, as wouldn't it make sense that the faster the clock speed and the more cores on the CPU, the more work we can do with it? The answer lies somewhere between a 'yes' and a 'no'...
We can successfully use the two metrics above to make comparisons within an architecture family. If we compare two Intel Haswell i7 cores, the one with the higher clock speed will outperform the slower one. This is the case because other than clock speed, the processors are architecturally identical. However, comparing between series gets more complex.
Would you believe me if I told you that Intel released the first 3.6 GHz chips way back in 2006? Well, it's true. Even though over a decade has passed, the fastest Intel cores run at factory speeds of about 4.4 GHz, which seems like a very marginal improvement. As a matter of fact, most actual headway was made in the amount of work done by the CPU in each individual clock cycle, not in the number of cycles per second. There are other factors that influence processing speed too, such as improvements in cache memory, but the work done per clock cycle is by far the most significant gain realised.
Before getting into the details of the various CPU models, lets quickly review Gridcoin mining. Just like mining other crypto, with Gridcoin:
- The amount you earn depends on how much you contribute to the network compute relative to everyone else.
- You can join a pool to get paid more steadily, rather than having to get lucky staking a block.
- More powerful hardware outcompetes less powerful hardware generally speaking.
However, unlike mining other crypto, with Gridcoin:
- Your compute power is used to solve research problems, primarily for the scientific community. These problems are complex, and vary wildly between projects that the Gridcoin Network rewards contributions on. As a result, hardware performance will vary between projects, as will your mining rate.
- Hashing power is meaningless, so hardware profitability cannot be readily compared
- The daily Gridcoin mint is spread across the 'whitelisted projects', which are projects eligible for rewards (you run these projects - you get paid GRC). If the number of projects in the whitelist changes, this will significantly impact your daily GRC mint.
The best way to maximise your yield is to select a project with minimal competition from other members of Team Gridcoin by reviewing the total contributions made here. I have been running over 80 CPUs for the last month and a half, and collected data on the income they have generated. By calculating the average yield per GHz of compute and linearly extrapolating within each architecture family, we can predict the earnings of most CPUs in these series. Processors highlighted in yellow are those for which I have actual data, which were used to linearly interpolate the rest of each series. Note that all values are averages, meaning none of the raw data remains in these tables. Further, all hardware is running stock settings - no overclocking or overvolting, which could further increase yield. However, turbo was enabled as per the default settings. Horizontal lines delimit architecture families.
I had some limited data available for Intel Xeons, but not enough to give me confidence to populate tables such as the ones above. That being said, Xeons with 8 logical cores are up there with modern i7s in terms of performance.
Some final notes on the data tables presented:
- I have not taken into account power costs as power prices vary significantly depending on where you live. However, the maximum Wattage that the CPUs will run at with their factory cooling system has been listed to make it easy for you to work out the profit you can make.
- I have assumed that your CPU will be running 24/7
- I have not considered multi-core job performance, only single core (some projects such as YAFU run many work units that take 4 or 8 cores each).
- These estimates are for the current GRC price (USD$0.033), and ATH (USD$0.13 in June). You will have to adjust the income estimates based on markets rates at the time of reading.
- This data was collected from a small subset of projects, primarily SRBase. Due to the massive number of factors to consider for these calculations across projects and across time, you need to remember these are only estimates.
If you are not sure what CPU you have in your machine, you can find out in less than a minute! Hit the start button, and type 'run'. Open the run dialogue box by pressing enter and type 'dxdiag' without the speech marks. If asked whether or not you would like to check if your drivers are digitally signed, select 'no' and wait for the window to open up. Note that on my computer shown below, I am running a Xeon E31230, which was not listed above.
If you would like to get involved, you can get started by installing the research software BOINC and the Gridcoin Wallet.
Image credit, in order of appearance:
Banner, @joshoeah
Tables all done by me in Excel
I'll have to try out gridcoin mining. Is it more lucrative than CPU mining monero now? I stopped CPU mining a few months back but monero used to be the best for CPU.
I have never mined anything other than Gridcoin, so I could not say. If you have your rough monthly revenue, you could compare it against the tables. If your CPU isn't listed, you can compare your CPU to an i7 through the architecture family release date and clock speed to get an approximation.
I honestly cannot for the life of me remember what I used to get. Thanks for the reply though :)
I tried mining monero for a month on a two year old computer, then switched to Gridcoin and so far I'm making more through Gridcoin in a pool than I did Monero.
My understanding is when monero gets more complicated as well Gridcoin doesn't because you aren't working the block, you're working packets from the science guys.
Interesting, thanks for the info.
Hey, thanks for writing this. I like your name too. Anyway, I didn't know much about gridcoin until reading this.
I bookmarked your post as well so when I have time for research, I will reference back to this information and use it to plan some of my Gridcoin ops - should I decide to leap into it.
This coin reminds me a little of Burstcoin in the sense that it is using hardware in a fundamentally different way than many of its rivals.
I'm definitely long on anything that effectively "Democratizes" the blockchain and a better word than democracy is DECENTRALIZE but that's a topic for a blog post.
While Gridcoin and Burstcoin both do use hardware very differently to most conventional cryptos, the key defining factor is actual benefit to society achieved by the former. Burstcoin functions on a proof of capacity. I can 'mine' it by hooking massive amounts of blank storage together that does nothing and fundamentally achieves nothing.
Gridcoin requires miners to contribute to scientific endeavours through the BOINC platform. While mining, you may discover a new stellar phenomenon, or a new megaprime, or an unknown cancer marker. I honestly consider that on a per user basis, GRC does more good for society than any other crypto.
However, that is coming from a researcher, so I may be a little biased. =)
Perhaps slightly, but you make a valid point.
dutch, you impress me more each post that I read.
As an avid Gridcoin fan, I use my spare resources to 'crunch' BOINC projects for the benefit of science and human kind and as a member of the Gridcoin Team there is money to be made by running a Gridcoin Wallet.
I look at the coins I earn from Proof Of Research (PoR) as an investment for my continued contributions to science and humanity.
These coins allow me to defray my expenses and my participation in the Gridcoin Community allows me to learn more about blockchain technology.
To me it's a 'win win' endeavour!!
I actually installed BOINC Manager a few days ago, and have made a few Gridcoin since then. I have not really optimized anything yet since I don't really know a lot about mining, but I'm always happy to help out with research! :)
Wow will look into it, thanks for this information. I never thought CPU Mining can be profitable, will definitely try it out.
This is a really comprehensive and detailed guide, I'm gonna look into mining GRC. Thanks for sharing!
Great news! Any compute added to science will benefit everyone in the end! I'm a researcher, can you tell I'm biased? =D
If you would like to get further involved, or to read up on what is going on with the network, you can check out the following channels serving the Gridcoin network:
Gridcoin Developer Slack - General channels for troubleshooting, as well as developer and branding discussions.
Gridcoin IRC - Join the linked channel, then register with NickServ using the instructions at the top of the page so you can join #Gridcoin. This is required to stop someone else stealing your nickname and the associated GRC.
Gridcoin Steemit - You are here already! =)
Gridcoin Homepage - The actively maintained and developed homepage of GRC globally.
Gridcoin Subreddit - Anything GRC related. The developers read the comments posted here, and will in all likelihood directly address any questions you pose within the day.
Gridcoin Forum and Main Thread - The ongoing megathread where you are most likely to find the original GRC developer Rob weighing in.
Gridcoin Twitter - Keep up to date with GRC news.
Awesome, thank you so much for sending these resources my way! This really is an exciting project and I look forward to reading more about it, including your future posts.
Hi @dutch, thank you very much for the article.
From my point of view Gridcoin has a lot of potential.
Hi @dutch, I posted a question at reddit. Here is the link:
https://www.reddit.com/r/gridcoin/comments/72l7jb/how_come_my_quad_core_eight_thread_laptop_cannot/?ref=share&ref_source=link
I got an answer from u/Cr1318, and I am very interested in your opinions too.
Thanks,
Brian
Hey rainclear, my apologies for my very late reply. I have been away due to my research commitments and my laboratory being burgled, but back now!
I had a look at the thread and you have gotten some good responses. My first question was whether the two machines are actually running the same project. If they are, then the reason for the mag discrepancy will just be the age of your architecture. A 7 year old CPU will have a slower clock, but more significantly it can complete far fewer FLOPs per clock cycle.
That being said, there is a way to get better mag out of your laptop due to it having 8 threads. The project WCG awards credit differently to all other projects, based only on the number of thread-hours you commit. The actual work done by each thread does not factor in. Therefore, you may want to move your laptop onto WCG.
Hope that helps, let me know if you have any more questions and I will try my best to answer (punctually). =)
Hi @dutch,
Thank you for the information. I did participate the same project, TN Grid.
I will switch to WCG then. WCG uses different clients, right? Do they use different clients for both Windows and Linux?
Thanks,
Brian
Thanks @dutch. It is really good detailed article about benefits of GridCoin. But can you share step-by-step guide to start Gridcoin mining on a normal computer or from a Windows laptop? Because, I'm completely new to Crypto currency mining.
@dutch any ideia of what ryzens make?
Unfortunately, I do not yet have any Ryzens to play around with. We are getting two Threadrippers for the lab soon, so I will report back! =)