Proof-of-Work (PoW) Mining¶
Proof-of-work mining, more commonly referred to as PoW mining, is the activity of committing your computer’s hardware and resources to process network transactions and build the blocks that make up the blockchain in the Bitum network. Each time a block is created (by a miner), which is then approved by ticket holders, the miner receives a block reward (newly created BITUM). If the block is rejected by ticket holders, the miner does not receive a reward. The block reward adjusts every 6,144 blocks (approximately 21.33 days) by reducing by a factor of 100/101.
Each new block reward is then split up as follows:
For more details on the growth of the coin supply, see the inflation page.
Miners typically receive a reward that is roughly proportional to the hashrate of your miner and the overall hashrate of the network when you commit your computer to PoW mining.
Bitum uses the BLAKE-256 hashing function. PoW mining can be done using GPUs. However, ASICs that mine BITUM are now available, and since their introduction the PoW difficulty has become high enough to make GPU mining unlikely to be profitable.
Solo Mining or Pool Mining¶
Solo mining is not recommended and is not covered by this documentation! The Bitum network regularly sees a network hash rate of up to 10,000Gh/s. Solo mining is generally only done by advanced individuals or organized groups with a large cluster of GPUs so it is not addressed here.
When you mine in a pool, your hashrate is combined with all the other pool miners’ hashrates to look for the correct solution for a block. You will receive a reward based on the amount of work your miner performs in the pool. Pool mining distributes shares based on blocks found so you can earn a steady amount of Bitum rather than the “all or none” of solo mining.
Obtain a Bitum Address to Receive Funds With¶
Follow the bitumctl Basics guide and create an address so you can withdraw mining rewards to it.
Sign up for a Mining Pool¶
These mining pools are known to support Bitum:
Mining pools all work more or less the same but you may wish to sign up at multiple pools and see which one suits you the best.
Please choose to mine on a smaller pool so the network’s hashrate can be spread out for better decentralization of mining power!
GPU drivers usually contain the libraries needed for mining. If you have difficulties running the software you may wish to re-install and specifically check that the OpenCL (AMD) or CUDA (NVIDIA) libraries are selected.
Select and Download Mining Software¶
Official Bitum Miner (gominer)¶
Gominer is the official Bitum miner developed and supported by the Bitum team. It is the easiest miner to setup and start mining and so it is recommended for most users. Currently, the latest version of gominer is v1.0.0 and the official binaries can be downloaded from https://github.com/bitum-project/bitum-binaries/releases/tag/v1.0.0
Please be certain to select the correct operating system (Windows/Linux) and the correct version for your GPU type (CUDA for NVIDIA cards, OpenCL/OpenCLADL for AMD cards). gominer is only available to 64-bit operating systems. User guides to start mining with gominer can be found here:
cgminer - cgminer is a popular miner for AMD GPUs that has a long history of use in many different cryptocurrencies. It is more difficult to use than the bitum gominer.
ccminer - ccminer is a popular miner for NVIDIA GPUs that has a long history of use in many different cryptocurrencies. It is more difficult to use than the bitum gominer.
sgminer - Those with an AMD graphics card running Windows may want to download sgminer.
Running the Software¶
- Decompress and install the software to a place of your choosing.
- Open a command prompt to that path.
- Follow your mining pools instructions for setup.
- Run the miner.
Continue to PoW Mining FAQ