In this tutorial, I'll outline how to mine Monero using p2pool. Monero mining uses the RandomX algorithm
and is CPU bound to prevent ASICs from centralizing the network.
As with almost all other cryptocurrencies, Monero is best mined in pools.
Most pools are centralized, meaning one entity controls the operation of the pool.
This is an issue, because if the pool gains at least 51% of the total hashing power of the
network, the network's security
can be compromised.
To prevent this, p2pool was written.
p2pool is a open source Monero mining pool that provides the best rewards and helps prevent
centralization of mining power.
The pool is decentralized and is not controlled by any one entity.
Before you begin, it is important to know that due to the peer to peer nature of p2pool, all
nodes connect to each other via forwarded ports and your IP will be visible by the network.
There is currently no way to hide your IP, except maybe via VPN which is beyond the scope of
this tutorial.
This tutorial explains how to
set one up.
Monero Node
Before you begin mining, you must first find a node to source block data from. This node must
have zmq enabled for p2pool to function.
I recommend running your own node to reduce strain on the network and to increase your own
privacy.
You can follow this tutorial to set one up.
If you cannot run a Monero node for some reason, pick the fastest node from the list here and write down the hostname,
RPC_Port, and ZMQ_Port.
p2pool Node Setup
When using p2pool, you must run your own p2pool node to which the xmrig mining clients will
connect.
You'll need to make various changes to this config for your specific configuration:
Change the path of p2pool in ExecStart to the path outputted by realpath on your machine.
Replace the x in --wallet x with your own wallet address
This is the wallet address that will represent your mining power on p2pool. It MUST be a primary address.
I recommend creating a new wallet specifically for mining to protect your privacy, as mining payout transactions are partially transparent to allow auditing of the total Monero supply.
DO NOT share this address with anyone, as it can be used to obtain the IP address of your p2pool node.
Change the hostname after the --host option and the ports after the --zmq-port and --rpc-port options to the hostname and ports specific to the Monero node you run (or the one wrote down earlier if you are using another node).
Make sure the stratum interface is configured how you want it
The --stratum option sets the address and port p2pool will bind to for accepting stratum connections. These stratum connections are for p2pool to communicate with the computers you will be mining on.
The default is fine, but will expose on all interfaces. If you don't want this, change the 0.0.0.0 to a different address.
Remove the --mini option if you are running a larger scale mining operation (around 100kH/s or higher)
Please note that the source code and precompiled xmrig binaries will donate 1% of your hashrate to the developer.
You can change the code to prevent this or block the developer's server as it can compromise your privacy.
The donation can be blocked by amending your hosts file like so:
Be careful mining in apartments, dorms, shared living spaces, public spaces, etc. as many have explicit policies against mining that may result in your punishment.
With that out of the way, we can setup a systemd service like so:
Again, you'll have to make some changes to the service config for your configuration:
Change the path of xmrig in ExecStart to the path outputted by the realpath command
Replace the 127.0.0.1:3333 with the hostname:port of your p2pool stratum server we just set up relative to your mining rig
Some optimization info:
xmrig relies on bare metal control of a CPU as root for optimization, so if you run it in a VM or as a regular user it will get a very bad hash rate.
xmrig also has options to control the amount of threads and resources it uses on your machine.
By default it won't use all resources to prevent the computer from becoming unusable.
You can force xmrig to use as much computing power as possible by adding the option --cpu-no-yield to the command line.
You can also set the number of preferred CPU threads for xmrig to use by adding -t N, where N is the number of threads.
I don't recommend changing this, as xmrig will chose the optimal settings for you.
Cutting down threads will reduce cpu + power usage.
Make sure to periodically check for updates on p2pool, as there may be breaking changes that affect mining profitability and security.
To update the binaries for either p2pool or xmrig, simply download them and overwrite the old version.
You can use commands in the installation instructions to overwrite the old one.
The systemd services should continue to work fine.
Simply paste your mining wallet address in the search bar to view. Keep in mind the information will not populate until you get your first share, which might take a few hours.
Registering for the xmrvsbeast hash rate raffle can give you even more profitability as a miner. The site explains the rules in depth.
