When mining Ethereum Classic, you can choose between joining a mining pool or mining solo. Each approach has distinct tradeoffs that depend on your hashrate and preferences.
Understanding the Difference
Pool Mining
In pool mining, many miners combine their hashpower to find blocks as a group. When the pool finds a block, the reward is distributed among participants based on their contributed shares.
Solo Mining
In solo mining, you mine independently and receive the full block reward when you find a block. However, finding a block may take a very long time depending on your hashrate relative to the network.
Comparison
| Factor | Pool Mining | Solo Mining |
|---|---|---|
| Payout frequency | Regular (daily/weekly) | Sporadic (when you find a block) |
| Payout size | Smaller, proportional shares | Full block reward |
| Variance | Low | Very high |
| Fees | Pool fee (typically 0.5-2%) | No fees |
| Technical setup | Easier | Requires full node |
Pool Mining in Detail
How It Works
- You connect your miner to the pool's server
- Pool assigns you work (hashes to try)
- You submit valid “shares” proving your work
- When the pool finds a block, rewards distribute by shares
- You receive payouts based on your contribution
Advantages
- Consistent income: Regular payouts instead of waiting for blocks
- Lower variance: Smooths out the randomness of mining
- No full node needed: Pool handles blockchain sync
- Easier setup: Just point miner at pool address
- Support: Most pools offer dashboards and monitoring
Disadvantages
- Fees: Pools take 0.5-2% of earnings
- Trust: Must trust pool to pay fairly
- Centralization: Large pools can concentrate hashpower
- Minimum payouts: May need to accumulate before withdrawal
Choosing a Pool
Key factors to evaluate:
- Fee structure: Lower is better, typically 0.5-2%
- Payout scheme: PPS, PPLNS, or proportional
- Minimum payout: Lower minimums for smaller miners
- Server locations: Choose one near you
- Uptime: Reliable pools maximize your earning time
- Size: Consider supporting smaller pools for decentralization
Payout Schemes Explained
- PPS (Pay Per Share): Fixed payment per valid share, pool absorbs variance
- PPLNS (Pay Per Last N Shares): Payment based on recent shares when block found
- Proportional: Reward split by shares submitted since last block
Solo Mining in Detail
How It Works
- Run a full ETC node (Core-Geth or similar)
- Configure your miner to connect to your node
- Your hardware searches for valid blocks
- If you find a block, you receive the full reward
Advantages
- No fees: Keep 100% of block rewards
- Full block reward: Currently ~2 ETC plus transaction fees (decreases over time per emission schedule)
- No trust required: You verify everything yourself
- Supports decentralization: Running your own node helps the network
- Privacy: No pool tracking your activity
Disadvantages
- High variance: Long periods with no income possible
- Full node requirement: Need storage, bandwidth, and sync time
- Hashrate requirement: Need significant power to find blocks regularly
- Technical complexity: More setup and maintenance
When to Mine Solo
Solo mining may make sense if:
- You have very significant hashpower (multiple GH/s)
- You can afford months without finding a block
- You prioritize avoiding fees over consistency
- You want to contribute to network decentralization
- You enjoy the technical challenge
Realistic Expectations
For most individual miners, pool mining is the practical choice. Consider:
- With 500 MH/s, finding a solo block could take months to years
- Network difficulty fluctuates, affecting block times
- Pool fees of 1% are a small cost for consistent income
- Regular payouts help cover electricity costs
Block Time Calculator
Estimate your expected time between solo blocks:
- Check current network hashrate (etc-network.info)
- Calculate your percentage: (Your hashrate / Network hashrate) × 100
- Average block time is ~13 seconds
- Expected blocks per day: Your % × (86400 / 13)
Example: With 500 MH/s on a 200 TH/s network:
- Your share: 0.00025%
- Expected blocks/day: 0.00025 × 6646 ≈ 0.0017
- Average days per block: ~600 days
Hybrid Approaches
Some miners use hybrid strategies:
- Solo pools: Pool software but you keep full block reward when you find one
- Split mining: Majority to pool, small percentage solo for lottery chance
- Pool hopping: Move between pools based on luck or fees
Recommendation
For most miners, pool mining is the best choice:
- Consistent income helps planning and covers costs
- Low barrier to entry
- Pool fees are minimal compared to variance cost of solo
Consider solo mining only if you have substantial hashpower (multiple GH/s) and can handle extended periods without rewards.