Coinite has increased in value with the Iceberg Island update in the Forge, since this is the required currency for you to reach the island. It's important to note that each time you want to travel to the island you will need a new Coinite ore, which is why we are here to help you farm it in the Forge.
Where to Find Coinite in the Forge
The Coinite Ore can only be mined from the Raven Cave of the Forge. First, you need to make sure that this secret cave behind Moro is unlocked for you by completing a couple of Raven NPC quests. These are honestly pretty simple, especially if you've already been grinding on the Frostspire Expanse island for a while.
Once you've unlocked the Raven Cave, you can mine Coinite from the Medium Red Crystals, Large Red Crystals, as well as from Heart of the Island for a 1 in 15,151 chance. The minimum Pickaxe required to mine any of these is the Void Pickaxe which costs 1,350mil, or 1,180mil as a Goblin. If you have managed to unlock a third slot in your playthrough, I highly advise keeping Goblin in it. Now if only it would work for selling items to Woo, that scammer.
How to AFK Farm Coinite

As you might have already noticed, the Raven Cave is swarming with Demon Spiders of all sizes, so it's difficult to do a full AFK farm, but we will help you figure out the best spots to set up for a semi-AFK method.
The two paths on either side of the Aida NPC will usually be blocked by a specific Crystal, either Small, Medium, or Large. If there's a Medium or a Large Crystal then you are in luck. Drink a luck potion or a Funghi Potion for a buff, and then get to mining.
You should be keeping an eye on the ore, especially once it goes down to around half HP. That's when you will start to see the Ores imbeded into the Crystal and when you'll be able to see if it contains a Coinite. If it doesn't, stop mining it and move away until it respawns (around 20 seconds). This essentially resets the Ores inside and you can mine it again to check for Coinite. Keep doing this until you find it.
The area around the training dummy (hug the left wall after Aida) is also relatively safe from Spiders, so you can mine here if there are any adequate Crystals. Use this method if you can't fully commit to playing the game at the moment, but you can keep an eye on it.
If you do have free time to play the Forge, then you can just go around mining the ores in the Raven Cave and you'll definitely get Coinite. Just make sure to have luck boosts on you, so Luck Potion, Funghi Potion, the Luck Achievement boost, etc.
FAQ
Yes, you will have to pay x1 Coinite each time you want to use the ferry to get to the Iceberg Island.
Coinite can be found in the Raven cave of The Forge Frostspire Expanse island.
Coinite does not have a trait, so you don't need to worry about farming it even more. Especially since it's a legendary ore (it's legendary in how much it refuses to spawn for me).
If you to make sure you don't miss out on anything in the game, then you should check out our entire The Forge section here on Pro Game Guides. From best builds, weapons, and armor, secret locations to boss guides, we have it all!