Here we are not going to mine big cryptocurrencies like Bitcoin or Ethereum, they are hard to mine and mostly they are GPU-based. But we are mining Monero which is easy to mine on CPU and which is included in the oracle free tier but you can mine it on any cloud for really cheap. This method helps you to earn passive income without much configuration, with free setup with oracle cloud this is an undeniably offer.
Here I’m going to walk you through every step to transform your oracle cloud free tier into a cryptocurrency mining machine and show you the path to build a passive income. Here you will understand how to mine crypto on oracle cloud with CPU mining, or mine crypto cloud of any kind with CPU power.
Oracle Cloud provides us free 6 CPUs, which includes 4 VPS core and 2 AMD cores and we can combine all to mine crypto in one centralized wallet location to increase output.in the video below I am showing how to mine crypto on oracle cloud free VPS, but you can replicate with other VM and another cloud too.
Along the way, I answer some of the basic questions like,
- What is a cryptocurrency, Mining pool, Blockchain?
- What is cryptocurrency mining?
- Is crypto mining profitable?
- Why mine Monero?
This is not financial advice but you can
- Should you try mining crypto on the cloud?
- defiantly.
- Is mining crypto on the cloud profitable?
- depends
- Is mining crypto on the cloud profitable?
- well, it’s better than nothing. I will show later home much you can make money by mining cryptocurrency on oracle cloud later.
- Can you be rich in mining crypto on the oracle cloud?
- That is no, but it’s fun. You can learn so much about crypto technology by mining it .and you can brag about it to your friends, colleagues, or your manager that you are mining crypto on the cloud. sounds cool right .so Let mine cryptocurrency on the cloud .lets get to it.
What is crypto and why we are mining it?
Crypto mining is all about supporting the blockchain. When you send money to me you send it to the bank and the bank gives it to me and the bank keeps the record of the transaction. But when you send cryptocurrency to me it is directly sent to me and who is keeping the record? everybody who is mining crypto.
How to earn crypto?
When you send crypto to me there is some mathematical calculation is required to solve the transaction, and everybody tries to solve that problem. Who first solves the problem is rewarded which crypto. To mine crypto, we first need to save all the crypto transaction records and when we solve the block our share is accepted
Why we are mining monero, instead of Bitcoin or Ethereum?
Mining Bitcoin or Ethereum is really hard. There are miners out there who have dedicated GPU-based mining machines which are just do mining like ANT miners. But monero support CPU based mining instead of GPU based mining
Step 1: Create a VM of your choice and connect via ssh.
Create a VM on the cloud with a Linux distribution, or you can mine anywhere you want.
Step 2: Install the Crypto Mining Software
1. Update your VM and essential repositories
sudo apt update
sudo apt install git build-essential cmake libuv1-dev libssl-dev libhwloc-dev -y
2. Clone XMRig repository from GITHUB and open the folder git clone
https://github.com/xmrig/xmrig.git cd xmrig
3. Create a new directory and cd into it
mkdir build
cd build
4. Install XMRig which you downloaded
cmake ..
make
STEP 3 - Get a Monero Crypto Wallet
https://www.getmonero.org
STEP 4 - Start Mining
To start mining enter the following code with your wallet address and label for VM
./xmrig -o gulf.moneroocean.stream:10128 -u yourwalletaddress -p lableforvm
Press the following key to check the status
H - hash rate speed of mining
S - to check result
C- current connection mining
STEP 5 - Check the accepted share in the mining pool
To check accepted share goto website https://moneroocean.stream
