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What to mine if ethereum is not an option anymore?

Author: LB 2021-03-22 176

There is an unprecedented hype around cryptocurrencies these days. Miners are always searching for the most profitable coin to mine and as bitcoin is out of question for mortal miners, ethereum with its second largest market capitalization is getting more and more attention. Nevertheless, the introduction of the PoS based ethereum 2.0 will bring an end to the era of extremely profitable eth mining and GPU miners will have to look for alternatives. One of the most promising candidates is ravencoin and I'm going to talk about my experiences with this new altcoin. If you want to install your own ravencoin mining software on Ubuntu, this guide is for you!

The current mining algorithm of ravencoin in 2021 is based on ethereum's ProgPoW algorithm. ProgPoW is said to be highly ASIC resistant, therefore the ravencoin network offers much more decentralization than for example bitcoin. These days, the majority of ravencoin is being mined on GPUs, because CPU mining is not profitable anymore. In other words, anyone with a decent video card can mine ravencoin and as its market price keeps climbing up, ethereum miners are keeping an eye on this altcoin. In the following few lines I'm going to demonstrate the installation process. Follow these if you want to mine ravencoin on GPU!

I hadn't got any good GPUs in my own PC, so I decided to rent an AWS virtual machine with a Tesla V100 card. If you have a fresh registration at Amazon, you might not have enough permissions to launch an instance in the resource group with GPUs in it, so you have to contact them to increase your usage quota.

Launching an instance with a Tesla V100 GPU in it can be done in a few seconds. Make sure you allocate at least 30Gb of disk for the mining software. This is how my instance looks in AWS:

You can connect to the instance with SSH and start the installation process. First you have to install CUDA on the machine:

$ sudo apt-get update
$ sudo apt-get install build-essential
$ sudo apt install mesa-common-dev
$ sudo apt install cmake

$ wget

$ sudo sh

And now you have to link the CUDA library in your .bashrc file:

if [ -d "/usr/local/cuda-11.2/bin/" ]; then
  export PATH=/usr/local/cuda-11.2/bin${PATH:+:${PATH}}
  export LD_LIBRARY_PATH=/usr/local/cuda-11.2/lib64${LD_LIBRARY_PATH:+:${LD_LIBRARY_PATH}}

Now let's download kawpowminer from Github and build it:

$ git clone
$ cd kawpowminer
$ git submodule update --init --recursive
$ mkdir build
$ cd build
$ cmake .. -DETHASHCUDA=ON
$ make -sj $(nproc)

My kawpowminer was not even compatible with CUDA and I got the following error when I tried to compile the source code:

[ 64%] Building NVCC (Device) object libethash-cuda/CMakeFiles/ethash-cuda.dir/
nvcc fatal : Unsupported gpu architecture 'compute_30'
CMake Error at (message):
  Error generating

make[2]: *** [libethash-cuda/CMakeFiles/ethash-cuda.dir/build.make:65: libethash-cuda/CMakeFiles/ethash-cuda.dir/] Error 1
make[1]: *** [CMakeFiles/Makefile2:513: libethash-cuda/CMakeFiles/ethash-cuda.dir/all] Error 2
make[1]: *** Waiting for unfinished jobs....

Edit the following file to make kawpowminer compatible with CUDA: ./libethash-cuda/CMakeLists.txt. Delete (or uncomment) the following three lines from the file to make it compatible with CUDA 11:

        list(APPEND CUDA_NVCC_FLAGS "-gencode arch=compute_30,code=sm_30")
        list(APPEND CUDA_NVCC_FLAGS "-gencode arch=compute_35,code=sm_35")
        list(APPEND CUDA_NVCC_FLAGS "-gencode arch=compute_50,code=sm_50")

The make should proceed with no errors. Once your binary is ready, you can start mining ravencoin with the following command connecting to

$ ./kawpowminer -P stratum+tcp://

Be sure to replace your ravencoin wallet address, otherwise you'll be mining ravencoin onto my wallet.

This is how the mining process looks on my output in Amazon AWS:

And now you can check your progress and your profits on the pool's website:

I used an online calculator to estimate the profit I'd able to mine with a Tesla V100 card and after deducting electricity, my ravencoin profitability was around 200 USD with this setup.

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