This tutorial will show you how to link your MicroBT Whatsminer M50 or Whatsminer M50s to NiceHash.
To maximize your mining income with your MicroBT Whatsminer M50 or Whatsminer M50s, finding a suitable mining pool is essential.
NiceHash was declared the most profitable mining rig in 2023. Users can buy or sell computing power through it to make money; it is the top platform for crypto mining services. The fees on NiceHash are very reasonable and have a minimal effect on your overall profit.
Let’s now look at how to connect your MicroBT Whatsminer M50 or Whatsminer M50s to NiceHash.
Power and an internet connection should be connected to your MicroBT Whatsminer M50/M50s.
Your local network should contain the IP address of your MicroBT Whatsminer M50/M50s. You can do this by logging in to your router, going to DHCP, and searching for the Whatsminer IP. In your browser, paste the IP address.
Log in by providing your username and password.
Go to the Miner Configuration tab.
Go to this URL in a new tab in the browser: https://www.nicehash.com/asic-mining. Click Generate Stratum after selecting your MicroBT Whatsminer M50/M50s algorithm (SHA-256).
Copy stratum server, in this case use stratum+tcp://x11.auto.nicehash.com:9200 or stratum+ssl://x11.auto.nicehash.com:443 (if ssl is supported). Enter it in the URL text field on the Miner Configuration tab (step 4).
In the text field for the worker, enter your Nicehash mining address or an external BTC wallet address. You can use it like this: MiningAddress.WorkerName to name your worker.
Always use “x” as your password.
Click Save&Apply.
Note: Since #xnsub is supported by some ASICs, it must be used at the end of the stratum line in the URL text field (stratum+tcp://scrypt.auto.nicehash.com:9200#xnsub).
Xnsub stands for extra-nonce subscription. It is possible for a miner to completely exhaust the nonce-space, or the value that is altered with each hash in an effort to locate the valid hash, for algorithms with extremely high degrees of difficulty and miners with extremely high hash rates.
Extranonce was developed to give miners the ability to modify a small field in the coinbase and restart hashing with a slightly different block.
By subscribing, you’re letting NH (or any pool that supports it) know that even though you’ve already submitted a specific nonce, this block is actually different because of the extranonce field. The nonce’s size is effectively expanded.
What is NiceHash?
In the cryptocurrency industry, the business NiceHash provides services for trading, mining, and exchanging cryptocurrencies. In the hash power brokerage industry, it dominates the market. Comparing NiceHash exchange’s hash rate to that of other mining programs and services, it is competitive. This platform is made for miners, assisting them in solving problems and acquiring cryptocurrencies quickly through mining. For buying and selling cryptocurrencies, NiceHash is a reliable platform. Its users can buy Bitcoin, Ethereum, and other significant stable coins through the platform.
This platform’s ability to make practical crypto mining possible is one of its main features. The NiceHash mining program assists in producing the required hash rate to obtain stable and altcoins. Advanced NiceHash algorithms are used by this software. Through GPU-based mining, the platform’s algorithmic capabilities assist users in quickly obtaining cryptocurrency. It assists in instantly and seamlessly mining BTC with the aid of the computing and graphical processing power of the user device.
It is also recommended to use NiceHash if you want hassle free mining with your MicroBT Whatsminer M50 or Whatsminer M50s.
How Does NiceHash Work?
The main goal of the NiceHash exchange is to provide its users with reliable hash power. Users can become profitable cryptocurrency miners thanks to this platform’s hash power. To solve the blockchain calculations and encrypted demands for mining BTC, ETH, and other crypto assets, a buyer can use NiceHash algorithms. By mining these assets, the buyer can save money on their purchase and have an impact on the global circulation streams of cryptocurrencies. Users of NiceHash can quickly become active nodes in the blockchain.
Like cloud mining software, NiceHash functions as well. Users who use this platform’s cloud mining features can build a backbone network for their mining operations. The user can become a productive crypto miner thanks to central management and unified storage of mined coins. Unlike other crypto exchanges, NiceHash encourages mining over trading. Hash and computing power are used to power the majority of the crypto transactions carried out on this platform. This platform also works to develop a top-notch mining pool for the cryptocurrency markets.
NiceHash Features
Users can share their knowledge of cryptocurrency mining on the NiceHash exchange platform, which will benefit the entire community. In the world of cryptocurrency mining, the platform offers unique features. People are learning important lessons about how to acquire crypto tokens without making a direct purchase thanks to NiceHash’s hashing power features. It’s a great choice to use MicroBT Whatsminer M50 or Whatsminer M50s mine on Nicehash.
NiceHash Fees
The costs of using NiceHash are clear. The maker-taker ratio and trade levels have been used to differentiate them. NiceHash limits are boundaries established by trade levels. For trades up to 1,000 euros, the maker fee is 0.5% and the taker fee is 0.5%, for instance. However, as these levels increase, the taker fee and the maker fee gradually change. The maker fee drops to 0.3% for trades under 100,000 euros. Likewise, the maker fee is 0.1% and the taker fee is 0.08% for high-volume trades up to a value of €10 million.
Not to be confused with NiceHash’s 0.0001 BTC withdrawal fee, which is separate from these fees. In addition to the fees mentioned above, miners are also charged wallet fees, which vary depending on the wallet used. Find out more by going to the official website.
Summary
By following the above instructions, starting a mine in Nicehash with your MicroBT Whatsminer M50/M50s is quite simple. You are now aware of the procedure for linking your MicroBT Whatsminer M50/M50s to NiceHash. Start mining to earn money.
FAQs
What’s the Profitability of MicroBT Whatsminer M50s With NiceHash?
Mine 0.00046429 BTC every 24 hours with the MicroBT Whatsminer M50S. It can make a profit of $5.34 per 24 hours if the cost of electricity is 6 cents/kwH.
Is NiceHash Mining Safe?
The platform was created for miners and aids newcomers in becoming profitable cryptocurrency miners. It functions as a hash power broker and uses GPU and cloud mining to unlock BTC, ETH, and other cryptocurrencies.
