Unveiling what cryptocurrency can be mined using HDD and SSD in 2021

How to buy Bitcoin (BTC) – Forbes Advisor Australia
Video Hard drive up bitcoin can it

The rise of cryptocurrencies led to an inevitable shortage of video cards in some regions of the world, as enthusiastic miners went on a panic buying spree. however, today the market is forecasting a huge shortage of hdd and ssd due to a new crypto player: the chia token, which can be mined using hard drives.

Cryptocurrency fans decided to turn to cryptocurrency mining on their own equipment, as it does not require large energy costs. and although mining on hard drives is not as popular as mining on video cards or asics, it allows to obtain coins without noise and dust, as well as without the continuous hum of refrigerators.

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Today we will tell you how to mine cryptocurrencies on hdd and ssd, which models are suitable for mining, how to mine chia cryptocurrencies step by step and how to calculate the benefits of this process.

general principles of hard drive mining

every miner remembers January 2021, when video cards sold out on store shelves. then many wondered: what else can you mine, besides the gpu?

And here the proof-of-capacity algorithm (poc), created in 2014, crossed my mind. It marked the beginning of a new type of crypto mining on hard drives.

Proof-of-Capacity work algorithm.

Proof-of-Capacity work algorithm.

The peculiarity of the PoC algorithm is the use of unnecessary physical memory of the device. Solutions for generating a new block in the blockchain are recorded on the free drive space, which triggers mining on HDD.

The mining community calls this process “tracing”. a parcel is a piece of memory in a device to store chia or other currency. once placed, it must be “grown”. the process of cultivation or subdivision consists of expanding the plot to a certain size.

Thanks to the poc algorithm, the developers have significantly reduced the power consumption of mining. In addition, hard drives do not require large investments, which is especially important in the context of fluctuating encryption rates.

compared to gpu mining, hdd farms are characterized by:

  • low cost;
  • energy efficient;
  • quiet;
  • easy setup requiring no special knowledge.

but of course there are also negative aspects. the first and foremost is the small number of cryptocurrencies available. Today, you can mine Chia, Burst, Sia, Storj, and Filecoin on your hard drive. and the list ends there.

Also, a hard drive is not eternal, it tends to wear out. but at the same time, a used hard drive is harder to sell than a video card.

and yet many people, despite the shortcomings, delve into mining on hdd and ssd.

which hard drives are suitable for mining?

When choosing a hard drive, it is important to pay attention to several parameters:

  • the amount of internal memory on the unit. this factor directly affects the level of profitability of mining: the more memory, the higher the profit.
  • speed of the spindle. this setting affects how quickly the computer can retrieve data from the hard drive.

The most suitable units for cryptocurrency mining today are:

memory: 3TB

spindle speed: 7200 rpm

cache: 64mb

See also : How To Buy Crypto With RBC Bank In 2022 – 4 Easy Steps

cost: ~$100

memory: 8TB

spindle speed: 7200 rpm

cache: 256mb

cost: ~$155

memory: 6tb

spindle speed: 7200 rpm

cache: 64mb

cost: ~$250

memory: 10TB

spindle speed: 7200 rpm

cache: 256mb

cost: ~$500

how to mine chia on hdd and ssd in 2021?

To mine chia coins, you need to follow four main steps.

step 1: install the chia program

To find the program you need, go to the official chia website and download the latest version of the blockchain. don’t panic if the process takes a long time.

after installation, create your own wallet, which will store the chia you mined. select generate new private key and 24 words will appear on the screen. be sure to write them down and keep them in a safe place, as this phrase is used to access your wallet.

See also : How to buy Bitcoin (BTC) – Forbes Advisor Australia

stage 2: start forming the plot

Go to the “parcels” tab and click the “add a parcel” button. to form a plot, you need 356.5 GB of free hard disk space. wait for the process to finish.

stage 3. start blockchain synchronization

After the frame is formed, the chia blockchain synchronization begins. and again you have to wait.

stage 4. start cultivating

farming (as mining of xch cryptocurrency is called by the founders of the project) will start automatically after synchronization.

It is worth noting that with two units and a frame, the production of an xch coin can take from 2 to 8 years. therefore, using a primitive computer assembly does not make sense.

The main objective of chia cultivation is to build plots in parallel. to get a tangible profit, a miner needs to optimize his equipment to create the maximum number of plots. in this case, one can be built in about 3-4 hours.

You can estimate how much xch you can earn from a given hard drive using the chia calculator.

when using a calculator, the units of measure may seem strange to you. mib (mebibyte) and gib (gibibyte) are based on the degree of two instead of ten. thus, a mebibyte is 1,048,576 bytes and a gibibyte is approximately 1.07 gigabytes. Without going into details, the values ​​given in mib and gib are slightly higher than gb and mb.

Chia calculator

Profitability from hard drives mining

Now, recovery from hard drive mining is almost insignificant and is interesting for users who expect large-scale growth of coins.

so, with the current price of the assets and the purchase of hard drives for $2000, it will be able to recover its costs in only 3 years. every 3tb of free hard drive space will generate around $9-10 per month.

It’s simply impossible to talk about any kind of extra profitability with such numbers unless you have a bunch of free hard drives.

final words

mining on a hard drive requires minor investments since a hdd or ssd is much cheaper than an asic or a video card. mining on hard drives also doesn’t require complex cooling systems or the removal of hot air from the room, and of course uses less electricity.

However, this process has several drawbacks. First, there is a limited number of coins to mine. second, used hard drives are much harder to sell. and sometimes their subsequent sale is simply impossible, since the high mining load leads to their premature failure. For example, continuous chia farming reduces the lifespan of a 512GB hard drive from 5 years to 40 days.

In short, it must be said that mining on hdd and ssd will be profitable only in a few years when this method gains momentum. At this stage of development, mapping cryptocurrencies using hard drives will not generate tangible revenue.

Category: Bitcoin

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