Yes, You Can Mine Cryptocurrency on Your Raspberry Pi

When Bitcoin first took off, the concept of mining currency on your computer was pretty foreign to most of us. The idea is that your…

Cameron Coward
3 years agoCryptocurrency

When Bitcoin first took off, the concept of mining currency on your computer was pretty foreign to most of us. The idea is that your computer verifies transactions, and in turn you’re rewarded with some currency. How many transactions you can verify is directly correctly to how powerful your computer is.

In the early days of cryptocurrencies, even an everyday gaming computer could mine a profitable amount of coin. But, currencies like BitCoin have worked on a sliding scale, meaning it has become more difficult to mine a coin (and the value of the coin has risen). For that reason, mining with a Raspberry Pi has traditionally been counterproductive—it would take you years and years to even make up the cost of the Pi itself.

But, that doesn’t mean it’s not possible with some currencies. As NovaSpirit proves, a Raspberry Pi 3 can profitably mine Magicoin. There are some tricks to getting the software setup, but he explains how to make it work.

Once it was running, he was able to generate $0.20-$0.25 (USD equivalent) per day. Further, staking with Magicoin means that will eventually start to vest interest which will increase that revenue a bit further. It’s worth considering if you’ve got a spare Raspberry Pi collecting dust between projects.

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