The idea of making money from home using a Raspberry Pi sounds tempting. These small, low-cost computers have gained immense popularity for their versatility, and among the many ways to use them, cryptocurrency mining appears to be an attractive option. However, the question remains: Is it really worth mining cryptocurrencies using a Raspberry Pi?
The truth is that, although it is technically possible to involve a Raspberry Pi in processes such as cryptocurrency mining or staking, the actual benefits may fall far short of expectations. To determine whether this approach is profitable, environmentally friendly, and technically and economically viable, we will analyze it in depth based on current information and comparing various real-life experiences.
What is cryptocurrency mining really?
Cryptocurrency mining is the process by which transactions are validated and recorded on a blockchain network. Traditionally, this was done (and still is for some coins) through a consensus mechanism called Proof of Work (PoW), which requires a lot of computing power.
Miners are tasked with solving complex mathematical problems. These allow blocks to be validated and, in return, receive a reward in the form of cryptocurrency. This process requires a huge amount of electrical energy and very powerful hardware, such as cutting-edge graphics cards or specialized ASICs.
For this reason, over the years, less demanding alternatives in terms of resources have been explored, such as staking (proof of stake or PoS), where the important thing is no longer to have a large computing capacity, but have a certain amount of coins locked in the network to act as a validator.
How does a Raspberry Pi fit into this picture?
A Raspberry Pi doesn't have the power to compete with GPU or ASIC mining, but it can be useful in less demanding models like staking. The latest versions, such as the 4GB Raspberry Pi 8, have enough RAM and capacity to run full nodes of some cryptocurrencies, especially those operating under the PoS model.
In the case of Ethereum, for example, since fully migrating to PoS in 2021, ultra-powerful hardware is no longer required to participate as a validator on the network. However, certain technical and economic requirements must be met.
What do you need to stake Ethereum with a Raspberry Pi?
To use your Raspberry Pi as an Ethereum validator node, you need to meet several conditions. The first is to use the 4GB Pi 8 model to avoid problems with the validation software, since lower versions fall short in terms of RAM.
You'll also need an external SSD of at least 1TB, as The entire Ethereum chain exceeds 200 GB and continues to growAdditionally, this validation process requires the device to be powered on 24/7, so you'll need to consider power consumption, although it's low compared to more powerful devices.
But the most complicated thing is the economic requirement: You must have at least 32 ETH in your wallet to participate., which represents a very high barrier to entry for most users (more than €50.000 at the time of writing).
How do I set up the validator node on the Raspberry Pi?
There are two main methods for getting the validator node up and running: one that uses automated scripts recommended for less experienced users, and a more manual approach that offers more control if you're familiar with Linux.
The most common software for Ethereum validation is prysm, and from its official website you can follow the specific instructions for ARM64 architecture (that of the Raspberry Pi). In addition, The Ethereum Foundation has published a comprehensive guide on how to set up a node on the platform for any user.
Before you jump into the mainnet, you can try it on a testnet like Pyrmont, which It doesn't use real ETH and is for experimentation.This way, you can ensure everything is working properly before making a significant investment.
What if you don't have 32 ETH?
Quiet, There are other cryptocurrencies that also use lighter consensus mechanisms and require less investment. to stake or participate in its network as a node.
Among them stand out NAV Coin, VeChain or NEO, which allow you to operate with a Raspberry Pi and don't require large amounts of coins to get started. Of course, the rewards are proportionally lower, but they can be an interesting option for those looking to learn and experiment without taking too much risk.
What if instead of staking you prefer to mine with your Raspberry Pi?
Although it makes less and less sense to mine cryptocurrencies with a Raspberry Pi every day, It is still feasible in less popular and demanding currenciesA typical example is Dogecoin or Monero.
Simple configurations allow you to use software like XMRig To start mining from home, you'll need:
- A powerful Raspberry Pi model, such as the 4 or the new 5
- 64-bit operating system
- A wallet to store cryptocurrencies
- A mining pool to join
The profitability is minimal and in many cases negative if electricity costs are taken into account., but as a proof of concept or to get in touch with the ecosystem, it may be worth it.
What real results are obtained?
Cases like Wired, where they ran a miner on a Raspberry Pi for 12 hours, They made a profit of 0.00000006 XMR (about 0,0012 cents). On the other hand, energy expenditure was 0,41 cents, which clearly shows that money is being lost when viewed as a business.
The biggest problem with using a Raspberry Pi for mining is the lack of power. You're competing against mining farms with GPUs and ASICs performing millions of calculations per second. The Raspberry Pi remains, at best, a science or educational experiment.
Are there more profitable ways to make money with your Raspberry Pi?
Yes. In fact, some users have found more lucrative ways to monetize their Raspberry Pi than mining. The main alternatives are:
- Rent unused storage space through platforms such as STORJ
- Sharing your internet connection's bandwidth with services like EarnApp
With platforms like STORJ you can Use your Pi as a node to host encrypted portions of third-party filesThe more space you offer and the more active your internet connection is, the more you'll receive.
On the other hand, EarnApp pays you to allow them to use your internet connection to perform market analysis and web scraping outside of your control. The earnings can range from €5 to €15 per month passively., which already outperforms many mining options without the need for complex technical knowledge.
Technical aspects: what to consider before testing?
Before you jump into turning your Raspberry Pi into a small profit center, consider the following:
- The Raspberry Pi must be on and connected 24/7
- It is recommended to use a stable power supply and Ethernet cable connection.
- You must control the temperature to avoid overheating.
- Using quality external SSD drives is essential
Additionally, if you're looking to participate in crypto networks, make sure you meet each network's specific requirements. Some coins, like Ethereum, have clear limitations to prevent validator saturation.
The Raspberry Pi has demonstrated its ability to participate in blockchain networks, but with limitations. Different methods, such as staking, sharing storage or bandwidth, offer real opportunities to earn money., although far from getting rich overnight. The important thing is to understand that these practices should be approached realistically, as a way to learn about new technologies and, in the process, earn a small passive income if done right.