How To Mine Ravencoin (RVN) In 2024

Ravencoin (RVN) is a blockchain platform focused on the efficient creation and transfer of assets between parties. It operates on a fork of the Bitcoin code, optimized specifically for asset issuance and transfer rather than currency. RVN is the native token used within the Ravencoin network, essential for issuing new tokens and assets, paying transaction fees, and ensuring network security through proof-of-work mining.

Ravencoin mining is highly popular in the crypto community as it’s an ASIC-resistant mining process. It means that anyone with a GPU can mine RVN, and they do not require any specialized mining rig.

So, if you want to add Ravencoin to your portfolio of passive income, here’s a detailed guide exploring how to mine Ravencoin in 2024 and beyond.

Key takeaways

• Ravencoin uses the KAWPOW algorithm, which allows for decentralized mining with GPUs, making it more accessible than ASIC-dominated coins.
• With a block reward of 2,500 RVN, current profitability is low due to rising difficulty, low RVN prices, and high electricity costs.
• Miners should prepare for the next halving in 2026, when the block reward will drop to 1,250 RVN, and optimize their setup to manage costs effectively

The current state of Ravencoin mining

As of 2024, Ravencoin (RVN) mining continues to operate under its KAWPOW algorithm, which is ASIC-resistant, making it accessible to GPU miners. The current block reward for mining Ravencoin remains at 2,500 RVN per block, with an average block time of approximately one minute. This reward system ensures a steady rate of coin issuance while supporting network security and decentralization.

However, profitability is a key concern for miners due to fluctuating market conditions. The price of Ravencoin hovers around $0.017, and while the block reward is significant, factors such as rising network difficulty, electricity costs, and the declining price of RVN can negatively impact profitability. Miners need to continuously monitor these variables and optimize their hardware setup to maintain profitability.

What do you need to mine Ravencoin?

1. Mining hardware

• GPUs: Some mining GPUs such as the NVIDIA RTX 2070, RTX 3060, and RTX 3080 are popular choices due to their excellent balance of performance and power efficiency. The RTX 2060 Super is also an option for those looking for mid-tier performance.

When choosing hardware, focus on:

• Hashrate: Higher hashrate means more mining power. For example, an RTX 3080 can deliver around 50 MH/s on KAWPOW.
• Power consumption: Power-efficient mining rigs like can help keep electricity costs down, which is crucial for profitability.

Keep in mind that Ravencoin’s KAWPOW algorithm is memory-intensive, so GPUs with high VRAM (at least 4GB) are recommended.

2. Mining software

Several software options are optimized for Ravencoin mining on the KAWPOW algorithm. The best software for mining Ravencoin are Kapowminer and T-rex miner.

When setting up mining software, miners need to configure their GPUs for the optimal balance of performance and power efficiency, which often requires some tuning of settings like overclocking.

3. Mining pools

Mining solo can be challenging due to Ravencoin’s increasing network difficulty. Joining a mining pool allows you to combine your hash rate with other miners, leading to more consistent payouts.

Some of the top mining pools for Ravencoin include:

• 2Miners: Known for low fees (1%) and a user-friendly interface, 2Miners is popular for Ravencoin miners and provides real-time monitoring and statistics.
• Flockpool: A well-established pool with competitive fees and optimized payout structures. Flockpool is a solid choice for both small and large miners.
• Ethermine (supports Ravencoin): Ethermine’s Ravencoin pool is one of the most reliable, with a large number of miners contributing to consistent payouts.

Most pools will have a small fee (around 1-2%), but they help reduce the variance in mining rewards, making it a worthwhile trade-off. Mining pools provide real-time stats, allowing you to monitor your performance and optimize your setup as needed.

4. Other considerations

• Electricity costs: Mining can be energy-intensive, so ensure you account for the electricity costs when calculating profitability. Efficient hardware and power-saving software settings are essential.
• Wallet: You’ll need a good crypto wallet to receive your mining rewards. Options include the official Ravencoin wallet, Electrum-RVN, or Trust Wallet.

Is Ravencoin (RVN) mining profitable?

In many cases, Ravencoin mining is not profitable unless you have access to cheap electricity and highly optimized hardware. For example, miners with average equipment and standard electricity rates may face daily losses rather than profits. Profitability calculators show that even though miners can earn 257 RVN per day, the associated electricity costs often exceed the value of mined coins.

While Ravencoin mining can still be profitable under the right conditions, it’s heavily dependent on low electricity costs, efficient hardware, and possibly higher RVN prices in the future. Monitoring market conditions and optimizing your mining setup is crucial for achieving profitability in the current environment.

How to Mine Ravencoin – Step by step

Step 1: Build your hardware

Mining Ravencoin uses GPU-based mining, so you’ll need a suitable rig:

• NVIDIA GPUs: RTX 3060, 3070, 3080, or 2060 Super are good choices due to their high hashrates and efficiency.
• AMD GPUs: RX 5700 XT, RX 580, RX 6600 XT, and RX 5600 XT are popular among miners.
• Power supply: Ensure your power supply can handle the GPU load with an 80+ Gold-rated PSU.
• Cooling: Mining generates a lot of heat, so proper cooling is critical. Use external fans and monitor the temperature of your GPUs.

Step 2: Download mining software

After setting up your hardware, choose mining software compatible with Ravencoin’s KAWPOW algorithm:

• T-Rex Miner (for NVIDIA cards) or TeamRedMiner (for AMD cards) are popular options.
• Kawpowminer is the official miner for Ravencoin and works well for both NVIDIA and AMD cards.

Download and install the software from the official site or a trusted source, then configure it by specifying your GPU model and power settings.

Step 3: Join a mining pool

Mining Ravencoin solo can be challenging due to network difficulty, so joining a pool increases your chances of earning consistent rewards. Popular Ravencoin mining pools include:

• 2Miners
• Flockpool
• WoolyPooly

Visit the pool’s website, register, and configure your mining software to point to the pool’s server by entering their address and port information into the software config file.

Step 4: Connect your wallet

You’ll need a Ravencoin wallet to receive your mining rewards. Download an official wallet from the Ravencoin website or use trusted wallets like:

• Ravencoin Core Wallet
• Electrum-RVN
• Trust Wallet

Once set up, copy your wallet address and configure the mining software to send your mined RVN to this address.

Step 5: Start mining

With hardware, software, a pool, and your wallet ready:

• Run the mining software and start the mining process.
• Monitor your mining statistics like hash rate, power consumption, and temperature.
• You can check your progress and earnings directly on the pool’s dashboard.

Mining pools will payout rewards based on your contribution to the network’s total hash rate.

Other coins you can mine

Here’s a list of the best cryptos to mine instead of Ravencoin, along with their latest block rewards as of 2024:

Final Thoughts

Ravencoin mining remains accessible due to its GPU-friendly KAWPOW algorithm, making it an attractive option for miners who prefer decentralized networks over ASIC-dominated ecosystems. However, profitability is a concern due to rising difficulty, relatively low RVN prices, and high electricity costs. To succeed, miners should focus on optimizing hardware (using efficient GPUs like NVIDIA’s RTX series or AMD’s RX series) and mining in pools to increase the chances of consistent rewards.

Additionally, it’s critical to monitor profitability regularly, adjusting your setup to current market conditions. This includes using accurate mining calculators, joining reputable pools like 2Miners or Flockpool, and keeping energy costs low to maximize returns. As the next halving approaches in 2026, it’s important to plan for the long-term sustainability of mining operations

Frequently Asked Questions

1. 01.

   How long does it take to mine 1 Ravencoin?

   

   It depends on your mining setup, especially the hash rate and network difficulty. On average, with a decent GPU, mining 1 RVN takes less than an hour.

2. 02.

   What is the best way to mine Ravencoin?

   

   The best approach is to use GPU mining in a pool (like 2Miners or Flockpool) for consistent payouts. NVIDIA and AMD GPUs are optimal for this.

3. 03.

   Can I mine Ravencoin on my PC?

   

   Yes, you can mine Ravencoin on a PC if it has a good GPU. A mid to high-end NVIDIA or AMD GPU is recommended, as CPU mining is not efficient.

4. 04.

   How much RAM do you need to mine Ravencoin?

   

   You need at least 4GB of VRAM on your GPU to meet the memory requirements of the KAWPOW algorithm.

5. 05.

   Can you mine Ravencoin with CPU?

   

   No, Ravencoin mining is not efficient with a CPU. It requires a GPU for effective mining.

6. 06.

   What is the best algorithm for RVN mining?

   

   The KAWPOW algorithm is the best for mining Ravencoin, as it is optimized for GPUs and resistant to ASICs.