Helium Miner To Earn HNT: Helium Mining’s set-and-forget approach is its strongest feature. In addition, it drives a top-notch decentralized wireless network. Mining cryptocurrencies is meant to be difficult and expensive. It would be best to imagine traditional mining installations as high-performing GPUs or ASIC miners that always produce excessive heat and wreak havoc on the neighboring population.
I won’t even begin to discuss mining investments. Here comes Helium Blockchain, an open-source, decentralized wireless network that provides inexpensive internet to billions of Internet of Things devices. However, a lot is being developed, such as a Helium 5G network where users only pay for the data they use rather than a set monthly fee. The long-term goal is to drive the traditional internet service providers out of business, and it will be a lot more affordable. But the main reason we’re here is to mine helium, which is roughly…
To put it briefly, you purchase and install a WiFi device at your location to receive mining rewards. Unlike conventional miners that require a lot of electricity, these little WiFi devices only use 5W. However, they pose a challenge to standard wireless hotspots. These routers, equipped with Helium LongFi technology, offer 200 times more coverage than a typical WiFi router. Accordingly, a few hundred of these devices can only cover a city. Technically known as LoRaWan, low-power radio networks enable this technology.
Helium Mining (TL;DR)
Purchasing a hotspot device and setting it up is all required to mine helium for a non-technical miner. Many YouTube videos are available regarding installation, which will take a little time. Everything else happens on its own, except for this. Helium Tokens are awarded to these hotspot owners for their “Coverage.” The only drawback is little profits, particularly if you’re the only Helium hotspot in your area. A network of hotspot miners is necessary for most of the many tasks miners do. The people’s network is shown on Helium Explorer.
Comparable to Google Maps, this shows the coverage of particular hotspots as green hexagons. You may verify this to determine how many miners are in your area. Every miner on the Helium network may be viewed in addition to their prior activity and rewards. There are a few more specifics, but if you need to be okay with this, please skip the following two sections.
How Does Helium Mining Work?
By setting up a device that resembles a WiFi router, you may power Helium Network (aka The People’s Network) and receive rewards. In the background, your device creates Proof-of-Coverage (PoC) jobs for other routers, increases network reach (data transmission), finishes other people’s PoC tasks, and monitors the PoC activities of hotspots that are accessible. There are five different ways to obtain Helium tokens (HNT) through mining.
- Be a PoC Challenger (up to 2.11%)
- Join PoC challenge (up to 11.78%)
- Witness the challenge (up to 47.11%)
- Network Data Transfer (up to 35%)
- Consensus Group Member (6%)
The percentage shows the portion of the action that may be used to earn rewards for HNT mining. Depending on the hotspot device and your immediate surroundings, you may do one or more of these operations. One earns mining rewards if elected to the Consensus Group, which verifies transactions. Up to 6% of all mining rewards go to this group.
Helium, Inc. and the network investors receive 33% of the mining rewards. Helium mining, like other mining, needs to provide consistent profits. Halving occurrences are another aspect of helium mining similar to conventional mining practices. Such occurrences are noted on the Helium blockchain every two years. Similarly, this is done to increase the value of the native token.
Helium Mining Risks
Rewards from mining are only sometimes assured. Big issues arise when you’re the only miner in a certain area. You are not eligible to participate in PoC events or serve as a witness. Therefore, rewards are only given for data transmission. The Challenger is the only other way to earn HNT regularly. These organizations create Proof-of-Concept challenges for Beaconers or Challengees, which are other hotspots. The PoC challenge is then accepted by the Beaconer, who finishes it in front of a nearby Witness. You should be aware that any activity that generates rewards is entirely random and mechanical. And once your device is turned on, you hardly move a finger. Now that you are sufficiently informed about it let’s examine some suitable gear.
Best Helium Miner
Helium, Inc. was the company that produced the first few miners. They then permitted certain businesses to follow suit. Please make sure the Helium miner you’re purchasing is on the official list of manufacturers, which can be found on their website.
1. RADACAT COTX-X3
This is the most expensive choice on the Helium Miner list, featuring an LCD display and an optional high-gain antenna. There was no reservation period at the time of writing, and this COTX-X3 mining hotspot was easily accessible for purchase.
2. FinestraMiner
Better coverage may be achieved using the non-adhesive mount with FinestraMiner for high stationing. Apps like FinestraMiner or Helium provide dashboard management.
3. Browan Merryiot Hotspot
Even though the Browan Merryiot has an internal antenna, you may increase its range by adding an external one. However, its eMMC storage, which indicates extremely quick beacon finding, makes it unique.
4. SenseCAP M1-US915
Miles of coverage and eligibility for automatic over-the-air (OTA) updates are mentioned in the product description. A cooling fan and heat sink are also included with the SenseCAP M1 to guarantee seamless functioning.
5. Milesight LoRaWAN Hotspot
In this instance, the key differential is the high antenna gains, which can offer a long Proof-of-Coverage range and large HNT revenues. Lastly, Milesight offers the UG65 & UG67 versions, suitable for indoor and outdoor usage scenarios.
6. MNTD Blackspot by RAKwireless
The MNTD Blackspot is based on the RAK Hotspot, as stated on the webpage. Notably, each of these specs is particular to the RAK version.
7. Bobcat Miner 300
Bobcat Miner was named the preferred hotspot by the helium community in 2021, in addition to having lightning-fast eMMC storage. Furthermore, the large antenna gain opens the door to greater coverage, raising mining rewards.
8. Nebra ROCK Pi Miner
There are two pricing tiers for Nebra ROCK Pi: basic (free) and advanced (paid). The basic subscription covers auto-updating, while the advanced tier covers remote management—which includes device performance and stats.
Consider The Following:
The Bottom Line:
That was helium mining, the simplest plug-and-play mining method you could imagine. The finest features include silent operation, a one-time minimal expenditure of about $500, and support for the biggest wireless network in the world. The rewards, however, are comparable and distinct from those of standard Proof-of-Work (PoW) mining.