Sia is a decentralized cloud storage platform, and its native token, Siacoin (SC), is used to pay for storage and bandwidth on the network. Mining is one way to acquire Siacoin, but its mining ecosystem has become highly specialized. This article aims to analyze the current state of Siacoin mining, mainstream hardware choices, and how to configure mining through F2Pool.
Siacoin Mining Status and Hardware Requirements
The Siacoin network uses the Blake2b-Sia algorithm. In its early stages, it supported CPU and GPU mining, but this is no longer economically viable. Effective Siacoin mining currently requires specialized ASIC (Application-Specific Integrated Circuit) miners optimized for this algorithm.
The Obelisk SC1 mentioned in the title was one of the Siacoin ASIC miners launched historically. Today, mainstream miner models have been updated and include Goldshell's SC5 Pro, SC Lite, SC Box II, and iBeLink's BM-S1 Max, among others. When choosing a miner, factors such as hashrate, power consumption, price, and expected returns under current network difficulty need to be considered comprehensively.
The Sia network's block reward has been stable at 30,000 SC per block since July 2020, with a target block generation time of 10 minutes.
F2Pool Configuration Steps
F2Pool is one of the world's largest comprehensive mining pools and supports Siacoin mining. For individual miners, joining a mining pool can smooth out returns and reduce the risk of income fluctuations caused by solo mining.
The general steps to configure a miner to connect to F2Pool are as follows:
- Physical Connection: Connect the miner to power and to the local area network via an Ethernet cable.
- Find Miner IP: Use your router's management interface or a LAN IP scanning tool to find the miner's IP address on your local network.
- Log in to Management Interface: Enter the IP address into a browser to access the miner's web management interface (usually requires a username and password, which can be found in the miner's manual or on the manufacturer's official website).
- Configure Mining Pool Information: In the miner's management interface, find the mining pool settings option and fill in the following information:
- URL/Address: stratum+tcp://sc.f2pool.com:7788
- Wallet Address: Enter your Siacoin wallet address to receive mining rewards.
- Worker Name: You can customize a name to identify your device in the mining pool backend.
- Password: This can usually be left blank or set arbitrarily (e.g., "x").
- Save and Start: After saving the settings, the miner will begin connecting to the mining pool and performing calculations. You can later check your hashrate status and earnings on the F2Pool website using your wallet address.
F2Pool uses a PPS (Pay-Per-Share) scheme for Siacoin, charging approximately 3% in fees, with daily payouts and a minimum payout threshold of 100 SC.
Mining Profitability and Risk Considerations
Mining is a business activity involving hardware investment and continuous electricity consumption. According to market data from October 2026, the Siacoin price is approximately $0.001, and the network hashrate is about 2.62 Ph/s. In this environment, mining profitability is extremely sensitive to electricity costs.
A rough estimate suggests that a miner with 17 Th/s hashrate and 3300W power consumption, under current difficulty, would earn approximately 18,300 SC per day (about $17.89). If electricity costs $0.10 per kilowatt-hour, the daily electricity cost would be about $7.92, resulting in a daily profit of approximately $9.97. If electricity costs are higher than this level, profits will quickly diminish or even turn into losses. Therefore, mining may only offer a significant economic advantage in regions where extremely low electricity prices (e.g., below $0.05/kWh) can be secured.
Furthermore, mining revenue is directly affected by Siacoin's market price and changes in network difficulty. For most miners paying average market electricity rates, mining may no longer be a high-return activity, but rather a way to accumulate tokens long-term and support the network.
On Decentralization and Mining Pool Selection
Historically, large mining pools like F2Pool have accounted for a significant share of the Sia network's hashrate, leading to discussions about mining centralization. Some community members suggest that miners could choose other mining pools with smaller hashrates to promote network decentralization and security. When selecting a mining pool, miners can consider its stability, fees, payment policies, and their personal willingness to contribute to network health.
Conclusion
Mining Siacoin today is a specialized activity that requires professional ASIC miners and cheap electricity. While the Obelisk SC1 is a historical model, there are newer miner options available in the current market. Mining through pools like F2Pool is standard practice, and the configuration process is relatively standardized. Prospective miners must conduct detailed profit and loss calculations, taking into account equipment costs, electricity expenses, token price fluctuations, and network difficulty growth. For most ordinary investors, purchasing SC directly on supporting exchanges may be a more direct way to acquire the token.
