Ive already posted ths in the newbie section but its more appropriate here
Well if your mining for a profit this is pointless. But if your doing it for the fun then its worth a try and hey every h/s counts.
Since I got my pi in June I have always been curious to see how well it would mine bitcoins, but there is no mining software out there compiled for arm. Today I had very little to do so I decided to compile cpu miner for the PI. It does quite well considering got 200kh/s out of it once it was overclocked. Not bad for a arm based device but still nothing compared to a x86/64 cpu. Below are the commands used to compile cpu miner for the pi. This is based on the fact that your running a Debian based package.
apt-get install gcc gcc-4.5 g++ g++-4.5 libstdc++6-4.5-dev libpcre3-dev libcurl3-dev make less
apt-get install ia32-libs ia32-libs-gtk lib32gcc1 lib32stdc++6 lib32z1 libc6-i386
mkdir bitcoind
cd bitcoind
wget
http://yyz.us/bitcoin/cpuminer-1.0.2.tar.gztar -zxvf cpuminer-1.0.2.tar.gz
cd cpuminer-1.0.2
./configure
make
./minerd --url
http://yourpool.x:8332 --userpass yourusername:yourpassword
For more detailed instructions please see my youtube tutorial (Moderator pleas remove this if it is not allowed)
http://www.youtube.com/watch?v=rrdzam7voOg