Bitcoin was the first decentralized cryptocurrency and has an unprecedented reputation that has spawned numerous copies and innovations. Bitcoin mining uses the SHA-256 algorithm to mine 21,000,000 total mineable coins. The block time is 10 minutes.
Feel free to check out the community website and block explorer to get more familiar with Bitcoin before continuing. You can also find a summary of Bitcoin metrics and other resources on our Bitcoin page.
1. Obtain suitable hardware
✅ Bitcoin can be efficiently mined with SHA-256 ASIC mining machines
❌ Bitcoin cannot be efficiently mined with GPU cards
View our Miners page to discover the most profitable ASIC machines for Bitcoin mining.
And don’t forget to check our Mining Hardware Tools page to download the necessary software for setting up your device.
2. Sign up for an f2pool account
3. Configure your mining device
You must use your f2pool mining account and your miner must be connected to one of the f2pool servers listed below for your hashrate and revenue to be recorded and monitored.
You’ll need to enter the following information in your mining device:
1. URL: An f2pool server URL
3. Password: Your choice
The list of f2pool mining pool servers is available here, as well as in the table below. Please use the server closest to your mining operation for a better connection and lower latency.
miningAccountUsername is in your Account Settings.
workerName is optional, but we recommend labeling each of your mining devices with a separate
workerName for more efficient monitoring.
Bitcoin mining pool servers:
Ports 1314, 3333, and 25 can be used as alternative ports for each server.
A miner with the mining account username
oceanminer and a worker named
bigfish1 who wants to connect to the USA server would configure his device as follows:
4. Add payout address
You’ll need to register a payout address to collect your mining revenue. You can add or change your payout address in your Payout Settings. f2pool distributes mining revenues on a daily basis to every user who reaches the payout threshold, which is 0.005 BTC. Details about our payout method and fees can be found here.
If you do not yet have a BTC address, you’ll need to get one. We recommend Cobo Wallet or Bixin Wallet. An extensive list of wallet options is available on the bitcoin.org website. You can also choose an exchange, such as Binance or OKex. Note: You should always do your own due diligence when choosing a wallet provider or exchange.
5. Merge mining setup
To receive free VCASH from mining Bitcoin, you will need to obtain a VCASH wallet address from BKEX. The reward ratio is 8 free VCASH for each bitcoin mined, with a payout threshold of 0.01 VCASH.
Note: You should only withdraw from the f2pool platform when your balance is above the threshold to avoid losing out on VCASH rewards.
To receive Elastos and Namecoin rewards, you will need to obtain Elastos and Namecoin wallets or exchange addresses. The reward ratio is 1 free ELA and 1 free NMC for each bitcoin mined.
You can add or change your VCASH, ELA, and NMC payout addresses in your Payout Settings. There are two more steps for finalizing this change: 1. Verifying via SMS or two-factor authentication, and 2. Activating a link sent to the email address linked to your f2pool account.
You are now set to receive free VCASH, ELA, and NMC rewards from mining Bitcoin.
6. Join the profit switching pool!
This service provided for all SHA256 coins can maximize mining revenue by automatically switching to mining the most profitable SHA256 coin at any given time.
To join the profit switching pool:
1. Create a new f2pool account or subaccount.
2. Set a wallet address for BTC, BCH, and BSV.
3. Configure your mining device with the URL
And you’re ready to go!
Previously, miners received any BCH and BSV they mined within 24 hours. Now, if you choose to receive your mining rewards in BTC, any BCH or BSV you mine using the profit switching pool will be automatically converted to BTC within 10 minutes and you will receive it together with the BTC you mine.
To compare revenues, one option is to split your machines into two different accounts or subaccounts, one for a single SHA256 coin, and one with the SHA256 profit switching option. You will likely find that the profit switching pool will earn you slightly higher revenues.
7. Start mining!
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