How to Mine Zcash on Amazon EC2

I'll wait until Dec 2nd to see the results of the Open Source Miner contest
(so we actually know which of the Open Source miners really is fastest on
CPU) and then I'll write that miner into the guide.

I currently don't have the time to write a guide for each solver, so I'm
just using tromps miner (since it's available in native zcashd).

I dont think this is profitable anymore at these prices.

This image shows what happens if you rent out 100 instances for $0.6/hour each for a total of 5,500 hash/sec.
this means you pay $60 an hour but only get $24 back. (yesterday it was 117$ so it was still profitable)

2 Likes

Please help me. I have followed all of the steps and amazon is even charging me already. But when I check on the info, I don't see any changes on my balance:

    ~/zcash/./src/zcash-cli getinfo
{
    "version" : 1000050,
    "protocolversion" : 170002,
    "walletversion" : 60000,
    "balance" : 0.00000000,
    "blocks" : 1540,
    "timeoffset" : 0,
    "connections" : 8,
    "proxy" : "",
    "difficulty" : 49357.06330147,
    "testnet" : false,
    "keypoololdest" : 1477826529,
    "keypoolsize" : 30001,
    "paytxfee" : 0.00000000,
    "relayfee" : 0.00005000,
    "errors" : ""

In the guide, there is no way we connect to pool, right? do we need to connect or use pool?

Also, how do we know our zcash wallet address so that we can for example withdrwaw and deposit it to exchange sites for selling some zcash coin?

Thank you very much! :slight_smile:

1 Like

good questions, Id like to know too!

please someday can help me :frowning:

hi all,
now for the 'not waste of time' version of mining zcash on amazon ec2.
use spot instances, around 32-64 cpus is fine.
paste the below into userdata, when setting up yr instances (this mines against zec.suprnova.cc)
have fun,
james

#!/bin/bash
sudo apt-get update
sudo apt-get install -y cmake build-essential libboost-all-dev git
git clone https://github.com/ocminer/nheqminer.git
cd nheqminer/nheqminer
mkdir build
cd build
cmake ..
make
./nheqminer -u <username.worker>

to mine against other pools, replace the 4th line with:
git clone https://github.com/feeleep75/nheqminer.git
and the last line with:
./nheqminer -l <poolname:port> -u <username.worker> -p x

so it looks like:
./nheqminer -l zec.coinmine.pl:7007 -u barrystyle.1 -p x

4 Likes

having a balance of zero is pretty much to be expected with how much hashpower is on the entire zcash net right now

1 Like

Is suprnova.cc the pool that pays you in btc instead of zec?

I agree, mining on AWS is definitely not profitable now. I wrote this guide back during the alpha releases -- so people could use it for testing.

At the time of this writing, one can expect to lose about 60 cents for every dollar they put into mining on EC2. This assumes the current price, network hashrate, spot prices, immediate sales, etc etc.

All of those variables change quickly, but I think it's safe to say that mining on EC2 isn't profitable right now.

1 Like

no, that would be nicehash

Good to know, thank you.

I'm really interested in trying out cryptocurrency mining, but if mining on AWS is no longer profitable how is a complete beginner/noob meant to mine zcash?

Pool mining with one of the GPU miners

What is pool mining?

What instance type would you recommend which are the cheapest and most effective?
Also is there any way to check hashrate of any single spot instance?

Thank you

It is when you share your hashing powers with other people and then split the reward equally, according to the amount of work everyone done to solving a block.

If you have small hash power - it is the only option to mine.

Interesting @iamniks can you suggest any resources for me to learn more about it this, I'd like to start pool mining zcash but have no idea where to start, where to find trustworthy mining pools and how to contribute value to them etc

Just a head's up. Pool mining DOES NOT increase your expected payout. It only lowers your variance.

So instead of getting one huge payout every several months, you get a bunch of tiny payouts every few hours (as an example). But the total amount of money you'll make mining will be the same (in the long run) either way.

Pool mining is better in that you'll actually see coins sooner. But it WILL NOT make your price per coin any lower than solo mining.

So yeah, if you are going to mine, you should probably pool mine. But mining right now is nowhere near profitable on AWS -- pool or no pool.

I just want to make sure everyone is aware of that. This is a very easy space in which to lose a lot of money very, very quickly.

1 Like

^^^^^^what he said, and I second that emotion as an enabler of AWS mining who put out a turnkey Zcash For AWS AMI distro!

That's why I switched it to boot by default into just running a fullnode, for hosting your own zcash instance as a wallet, because you can rack up a really high AWS bill really fast, all for nothing

I have been playing with mining on spot instances, with help from this thread - mostly just to sharpen my AWS and bash chops and have fun, not because I expect to make any profit. I have my scripts to the point where they can automatically check the spot prices, spin up instances, detect the number of cpu cores, and start up feeleep75/nheqminer with a worker named after the instance type. I just finished benchmarking c3 vs c4 instances, and c4 performs about 70% better for the same cost, due to newer hardware and AVX2 capabilities.

What other instance types would you guys suggest trying out? I am curious about high GPU instances as well but not sure what the best miner software is for GPU on linux. Thanks!