Bitcoin Mining

What is Bitcoin Mining?

There are lots of ways to get into Bitcoin Mining. The easiest and lowest cost method would be to rent mining hardware from a cloud mining site. Below are some of the most popular cloud mining sites:

LeaseRig.net

This is an amazing site to find short or long term mining contracts.  The prices are FAR cheaper than Ebay or some other mining locations.  Simply signup for an account, transfer your currency in and rent a rig.  I have seen from 10gh/s to 5,000 gh/s rentals available.  This can be quite profitable if you find a good price on a rental (you can sort by price per gh)!  There are also rigs for Scrypt Mining!  Mining typically starts IMMEDIATELY after your order is placed!

CEX

This is the cloud hosting service that I personally use. It offers some of the lowest cost-per gHash/s, has a mining pool built in, and allows you to freely sell and buy gHash/s from other members (like the stock market). This means that you can buy mining power, make money Bitcoin mining, then sell your gHash/s to other users when you feel like you want to invest your money elsewhere.

Scrypt.cc 


This is another cloud service that I use (You can see my KH/s above).  This site is very similar to CEX.IO but instead of Bitcoins they mine Scrypt based coins (like Litecoin).  They automatically pick the most profitable coin, and pay you out in Bitcoins every 10 minutes.  You can also buy and sell your K/HS.

PBMining:

This service offers guaranteed insured 5 year contracts at ridiculously low prices. If you are looking for a long-term Bitcoin investment for very little upfront (Starting at 0.0083 Bitcoins/GHZ – That’s currently $5.00 USD), I would definitely recommend this site!

Mining Hardware:

Antminer u2 Setup: *Note: You will need a powered USB hub (5-10amp per 10 slots) if you are running more than 1 u2 per powered USB hub on your computer.*Antminer u2

Go to: https://github.com/AntMiner/AntGen1 and open the Antminer u1 user guide (it’s the same setup process as the u2).

Follow the Install Driver section to part 4 (right before running cgminer).  After the proper drivers are installed you will need to unplug the Antminer U2’s and plug them back in.

Download the newest version of CGMiner from here: http://ck.kolivas.org/apps/cgminer/

Windows install:

1. Unzip the files and note the location.
2. Open a Command Prompt.
3. Run the following script c:\yourcgminerlocation\cgminer-folder\cgminer  –anu-freq 200 -o stratum+tcp://(enter your stratum pool info) -u Example.worker1 (enter your worker name) -p Password (enter your password).
4. You can also copy the command line into a notepad document and save as a .bat file.
5. After running the script, give cgminer about a minute to detect your miners (they will show up as ANU 0, ANU 1, etc), if any aren’t detected try unplugging then plugging in the ones that aren’t running.  If that doesn’t work try lowering your ANU-Freq

Notes:

Additionally you can play around with –icarus-options if you know what you are doing, I have found the following to be the best options:
–icarus-options 115200:1:1

–Anu-Freq: This line sets the frequency of the miners.

**Note that Overclocking will void your warranty**

200: 1.6 Gh/s
225: 1.8 Gh/s
250: 2.0 Gh/s
275: 2.2 Gh/s (not recommended unless you modify the R1 and R2 resistors.)

A value above 250 typically results in the following issues if you don’t modify the resistors:

1. Too Many hardware errors
2. Not recognizing the devices

I personally have found that generally an ANU freq of 253.8 is the highest one should go on a U2 without modifying the resistors (but that’s just my personal experience, personally I don’t like to run the miners that hard).