This is the detailed tutorial of mining Bitcoin on F2pool with Antminer S19 series miners, which incuding how to set up, how to check the reward and how to increase your eranings.
Greetings from the multi-billion dollar cryptocurrency mining industry! The first decentralized cryptocurrency, Bitcoin, had an unrivaled reputation that gave rise to numerous imitators and innovations. To this day, according to market capitalization, it is still the biggest cryptocurrency. It singlehandedly helped create the blockchain industry and has continued to have a profound influence on the industry culture since its creation.
F2pool was one of the first Bitcoin mining pools, having been established in 2013. Utilize this in-depth mining guide to get your mining career going and join F2pool in securing the largest decentralized network!
Table of Contents
What is Bitcoin Mining?
General Overview
On October 31, 2008, a programmer using the pseudonym of Satoshi Nakamoto released a document called “Bitcoin: A Peer-to-Peer Electronic Cash System”—the Bitcoin whitepaper.
On January 3, 2009, Bitcoin’s genesis block was mined. This signaled the beginning of cryptocurrencies, an unreliable form of money with decentralized control.
The balances of each user are kept up to date using a distributed ledger in Bitcoin. Each transaction is tracked and broadcast throughout the network, where it must be confirmed by each participant who creates a block.
The miners step in at this point. Miners enable the fundamental security of the network by providing computer power, or hashrate, to validate these transactions and blocks of data. They are compensated with newly minted bitcoin and transaction fees.
Basic Information
| Items | Details |
|---|---|
| Website | Bitcoin.org |
| Block explorer | Blockchain.com |
| Total supply | 21 million BTC |
| Algorithm | SHA256d |
| Consensus | Proof of Work |
| Block time | 10 minutes |
| Current block rewards | 6.25 BTC |
| Mining device | ASIC miner |
| Mining channel | Bitcointalk thread |
| f2pool mining community | Reddit group |
| f2pool address | f2pool servers |
The Economics of Mining
To fully comprehend the network and its revenue potential, miners need to have a solid grasp of some fundamental economic principles.
Bitcoin is a deflationary currency: There will only ever be 21 million Bitcoin mined. Over 89% of Bitcoin’s total supply has already been mined as of this writing. Another 6.25 BTC will be created once every ten minutes. Every 210,000 blocks, or roughly every four years, the block rewards are halved.
Today, hashrate contributed by miners is usually measured in Thash/s as the basic unit. The more hashrate there is in the network, the more challenging mining a block is. Network difficulty adjusts itself about every 14 days to fit the ten-minute block time.
Connecting your mining machines to a mining pool can make participating in the network easier and help you with achieving more stable returns.
Bitmain Antminer S19 Series
ASIC mining devices that use SHA256d can be used to mine bitcoin effectively.
The new generation of custom chips from Bitmain, with an energy efficiency ratio as low as 21J/TH, are used in the Antminer S19 series of mining rigs. The energy efficiency ratio is pushed to the extreme through revolutionary circuit architecture adjustments.
The efficiency of mining increases with decreasing unit power consumption compared to hashrate.
The latest Antminer S19 models can reach a unit power of about 30-40 W/T and achieve electricity cost rates of less than 50%.
How Do I Set Up the Antminer S19 and Create An Account?
Step 1: Create a Wallet Address
Creating a wallet address is always the first step when diving into a new blockchain network. To check and receive payouts from f2pool’s bitcoin mining, you’ll need a wallet address.
You have the option of using another wallet solution or running a full node as a wallet. The Bitcoin.org website has a comprehensive list of wallet choices. An exchange address is an additional option. Remember to always conduct your own research before selecting a wallet provider or exchange.
Step 2: Create An F2pool Account
You must first register for an f2pool account in order to mine bitcoin. Register on the official website if you don’t already have an account there.
Set an account_name. This will be required for configuration. To keep an eye on your employees or miners, you are free to make several subaccounts.
Go to your Payout Settings and enter the Bitcoin wallet address you created in Step 1 there. Once you start supplying mining power, you can set a payout threshold, monitor changes in hashrate, and check your rewards.
You can add or change your payout address in your Payout Settings. f2pool distributes mining revenues on a daily basis to every user who reaches the payout threshold.
Step 3: Configuration
You can set up your mining device now that you have a wallet and an f2pool account name.
As opposed to GPUs and CPUs, which are no longer profitable for mining bitcoin, ASIC miners are the simplest mining equipment to use. No mining software is required to be run on your computer. To meet the power consumption requirements, all you need is the appropriate electricity setup, along with a dependable internet connection.
Please note that your The Antminer S19 should be connected to your local network via a wired connection, and both your computer and the Antminer S19 should be on the same network.
Connect to an f2pool server by using any current browser that can access your computer’s IP address. You’ll need to enter the following information into your mining device:
URL: stratum+tcp://btc.f2pool.com:3333
Username: account_name.worker_name
Password: Your choice
Please note
1. Ports 1314, 3333, and 25 can be used as alternative ports for the server.
2. Your account_name is provided in your Account Settings.
3. worker_name is optional, but we recommend labeling each of your mining devices with a separate worker_name for more efficient monitoring.
Example configuration
A miner with the mining account username oceanminer and a worker named bigfish1 who wants to connect to our pool server would configure his device as follows:
URL: stratum+tcp://btc.f2pool.com:3333
Username: oceanminer.bigfish1
Password: 123456
Simple configuration procedures are required for Antminer S19. After setting up your device and saving your settings, you’re ready to start mining and collecting rewards. You are not locked into f2pool and can enter and exit the pool freely at any time. On the other hand, you can only receive mining rewards from f2pool when you are connected to a f2pool server.
How Do I Check My Rewards?
Now that you’ve started mining, you can calculate the revenue your devices are generating. We’ll also walk you through how f2pool’s payouts and fees operate.
Check the Block Reward On-chain
For more information about the decentralized environment that your hashrate is enabling, visit the Bitcoin block explorer. To access on-chain data, including payouts from f2pool, enter your wallet and transaction details.
Calculate What You Can Earn
Measure your revenue
The number of coins you can earn is primarily based on how much hashrate you have. By calculating the number of coins you can mine with your Thash/s and multiplying that number by the current exchange rate for your desired currency (e.g. If you would rather use units other than Thash/s, you can use this hashrate conversion tool.
Factors affecting profits
At any given bitcoin price, the biggest factor influencing your profits is your costs, which are highly dependent on your mining machines. As such, electricity and the overall cost of your hardware are the main factors that influence your costs.
Mining difficulty, payout schemes, and fees can also affect your profits.
f2pool calculator tool
Using our calculator, you can quickly determine how much money you could potentially make from well-known mining equipment.
Verify Your Payouts from F2pool
You can access up-to-date reward records from f2pool after your device starts mining and sending data to the pool.
View your records
You will receive payments from f2pool as long as your miner is successfully submitting your hashrate.
Visit the f2pool website and sign in to view your payout history for real-time Bitcoin mining.
Checking your rewards is another simple option with the f2pool app.
How F2pool Calculates Rewards
For Bitcoin mining, f2pool uses PPS+ (Pay Per Share+) to determine rewards and deducts 2.5% of your rewards as a commission. You will get a payout within 24 hours once the coins in your account reach the minimal requirement of 0.005 BTC.
You can read more about our payout process and costs here.
Increase Your Earnings
We want to introduce merged mining as a way to help you get the most out of your mining activities.
Merged Mining
Merged mining is “the practice of utilizing work produced on one blockchain on additional chains.” To put it another way, merged mining allows you to earn mining rewards for several coins without increasing your hashrate or lowering your rewards for the main coin you’re interested in mining (like bitcoin).
With f2pool, you can mine Bitcoin and receive payments from a variety of merged mining coins.
To receive free Hathor (HTR), for instance, from Bitcoin mining, you’ll need to get a KuCoin or the official page’s HTR wallet address. For every BTC that is mined, 120 HTR are awarded.
Added to your account are additional merged mining coins. For the purpose of configuring your payout addresses for merged mining coins, go to your Payout Settings.
Activating these rewards requires the following two steps: 1. two-factor authentication or SMS verification, and 2. activating a link you received via email at the f2pool account address.
F2pool Mining Review
F2pool is a well-known mining platform that enables miners to pool their computing power, find a block, and get paid based on the block’s ID. Each miner who uses F2pool receives a 3% reward. A mining pool flame for cryptocurrencies like Bitcoin, Litecoin, Monero MXR, and Ethereum, F2pool supports a wide range of digital currencies.
However, this pool is based in China and is also known as Discusfish; it was launched in 2013 in Beijing and was established as the world’s leading mining group. This swimming area has kept expanding. It has grown to be one of the top five mining pools in the world. This pool has over two million users, the majority of whom are Chinese; perhaps this is because it is based in China and will soon reach other continents.
This pool is the largest pool for cryptocurrencies mining in the world that provides mining services to over 40 digital currency, including Bitcoin (BTC), Ether (ETH), Zcash (ZEC), Ethereum Classic (ETC), Litecoin (LTC), Siacion (SC), Decred (DCR), Verge (XVG), Monero (MXR), Dash (DASH), and Zcoin (XZC).
With its user interface in Spanish, Russian, English, simplified, and traditional Chinese, F2pool has a new modern technology that gives its users the security and confidence they need to mine their desired cryptocurrencies. It has made over 17% of mining power in Bitcoin, making it one of the most significant and remarkable platforms on the market for more than 7 years and the second-largest Bitcoin mining pool in the market, which gives it a certain level of respect.
If F2pool didn’t have strong security, they would never have become so well-known or established. The service includes a wallet lock feature that protects all of your investment in the event that your account is compromised and the platform has HTTPS protocol. Just be aware that the email address you use to sign up for F2pool cannot ever be changed or removed, as the company forbids it for security reasons to prevent identity fraud on their platform.
Above all, F2pool is the only pool that accepts peer-to-peer payments; its withdrawal fees never exceed 4%, the pool payouts occur daily, and they are delivered right to your F2pool wallet.
Summary: Start Mining Today!
Here are the detailed information for mining bitcoin on F2pool with Bitmain Antminer S19 series.
Start securing the network now that you have all the information you require!
FAQs
What is the Minimum Payout on F2pool?
When the coins in your account reach the minimum threshold of 0.005 BTC, you will receive a payout within 24 hours. Here are the specifics regarding our payout process and fees.
What is My Antminer IP Address?
Generally, Antminer machines will show a name with “Antminer” in it. The IP address of every terminal is listed. Copy the URL to address bar. If users do not know router’s IP address, you can download an IP scanner to figure out the miner’s IP address.
