Litecoin wallet mining setup

There’s two ways that people mine Litecoin right now. First way is through CPU mining, that uses the microprocessor to do the mining. The second way is GPU mining, which utilizes the graphics card to mine for Litecoins. Both of these can be done at the same time, and CPU mining is still viable unlike in Bitcoin where the difficulty is too high even for GPU mining. To my knowledge there aren’t any FPGA or ASIC miners capable of mining Litecoin at this time, but that will probably change in the future.

To start mining Litecoins first you have to create a wallet and an address where you want your coins deposited, for that you need wallet software that supports Litecoin. Personally I use the official Litecoin wallet, which can be downloaded from litecoin.org.

Once you’ve installed the software and created a wallet address for Litecoin mining, it would be a good idea to join a Litecoin mining pool. I decided to join burnside’s Litecoin mining pool, which is the one I will be using as an example in this post as well as the video.

After you’ve signed up for burnside’s mining pool, enter the wallet address you want as your payment address into your account settings. Remember your PIN number! Then go to the bottom of your account settings page and add your workers. I use one worker per miner. So if I’m mining with my CPU and GPU on the same computer, I’d be running two miners, so I’d have two workers. Remember the worker suffixes and passwords.

Now that you’re done with that, it’s time to download cpuminer and cudaminer (GPU miner for nVidia). Make sure you get the right version of cpuminer, there are 32- and 64-bit versions available. Cudaminer has both of them in the same zip file, including the source code, incase you want to tweak the software. Please note that cudaminer is designed for nVidia graphics cards. Use cgminer for Radeon graphics cards. Personally I haven’t used cgminer yet, so I don’t have instructions, but you can find some .