Cryptocurrency mining on PS4 and Xbox gaming consoles: is it worth it?
Cryptocurrency, has not abandoned its attempt to penetrate every corner of the world as an alternative means of payment and a unique source of income. While some countries actively oppose such an innovation, others are improving their legislation to provide the crypto sector with a regulated legal space in which to operate.
Miners or miners of such currency, as well as crypto-enthusiasts, are always on the lookout for a convenient, fast and least expensive way to get what they want. Mining is known to require a certain amount of power. There are, of course, types of tokens for which simple computers are sufficient, but they are already extremely few and soon there will be none at all.
Gaming consoles as a means of mining
Experimenters have found another way to engage in mining – gaming consoles. Moreover, it is glorified on thematic forums that such subject is available to anyone. Except that this is not true. It is indeed possible to mine on a gaming console, but it is far from easy.
If you take PS4 and Xbox, you have to hack them first and then install Linux. The consoles have little processing power. Mining software requires a much higher figure. In addition, the user will face difficulties in terms of installing the required software. It will not be allowed by the operating system, as it is configured accordingly to ensure security.
It turns out that in order to at least start installing Linux, one has to hack the set-top box. If this succeeds, you can safely download any mining software and try to mine cryptocurrencies that do not require superpowers. Bitcoin, for example, cannot be mined on PS4 and Xbox, but Ethereum Classic, Zcash or Vertcoin can be tried.
Approximate Calculations and Prospects
Let’s calculate how much it will cost to mine on PS4 Pro and how much you can earn with it. The console has a Radeon RX 480 graphics card with 8GB of GDDR5 RAM. The electricity tariff is around $0.05 per kWh. Mining Ethereum Classic via the set-top box will generate as much as $1 per day, or around $30-31 per month. That does not come out to be a lot.
Since less popular cryptocurrencies have less appetite, it’s easier and faster to mine them. Moreover, the yield is also more decent. For example, mining Ergo will generate $1.32 a day. But the trick is that many such tokens have certain risks. In addition, not all of them are listed on leading cryptocurrency exchanges.
In conclusion, there is no point in mining on gaming consoles. It is only an additional expense of money, time and resources that does not pay off. If you want to mine cryptocurrency, you should use the right equipment and software.
