Data shows countless encrypted networks are more profitable than Bitcoin – Mining Bitcoin News
As the end of the year approaches, the value of digital currencies will rise sharply in 2021, and crypto asset miners will also benefit from this. According to statistics, the most profitable token at the end of November was kadena, because an 18 terahash (TH/s) machine can make $326 a day. Scrypt coin is the second most profitable currency today, up to 110 USD per day, while Ethash miners can earn up to 105 USD per day.
Kadena, Scrypt, Ethash and Eaglesong mining are more profitable than SHA256 mining
When Bitcoin was first introduced nearly 13 years ago, a central processing unit (CPU) could be used to mine cryptocurrency. This means that anyone with a decent computer at the time could mine and find Bitcoin (Bitcoin) Block rewards. After that stage, people began to utilize devices with dedicated electronic circuits called graphics processing units (GPUs).
Today, Bitcoin miners use application-specific integrated circuit (ASIC) equipment to mine BitcoinBitcoin mining equipment dedicates its processing power to the SHA256 algorithm, which means that Bitcoin ASIC mining equipment cannot mine coins like Ethereum, Litecoin or Kadena.
These networks use different consensus algorithms and have built a large number of machines to mine specific encrypted asset networks using unique consensus algorithms. SHA256 is the consensus algorithm used by Bitcoin, but SHA256 miners can also mine coins like Bitcoin Cash (Bitcoin cash), Bitcoin (BSV), peercoin (PPC) and unbreakable (UNB).
By the end of November 2021, SHA256 cryptocurrency is the fifth most profitable cryptocurrency. The four most profitable consensus algorithms today include Kadena, Scrypt, Ethash, and Eaglesong.
According to statistics from asicminervalue.com, Kadena-based ASIC miners can earn up to US$326 at a rate of 18 TH/s per day at a price of US$0.12 per kilowatt hour (kWh). An Scrypt-based miner with 9.5 Gigabits of hashes per second (GH/s) can earn US$110 per day at the same electricity cost.
The ASIC machine mining algorithm Ethash (Ethereum, Ethereum Classic, pirl) with 750 trillion hashes per second (MH/s) can earn up to $52 per day. The mining equipment based on Eaglesong’s mining nervos (CKB) can earn $45 per day at a rate of 12 TH/s.
Ethash and SHA256 next-generation mining equipment will be launched soon
There are consensus algorithms such as Blake2bsia, X11, Blake256R14, Equihash, etc. Blake2bsia compatible mining equipment supports mine sia (SIA) and handshake (HNS), while X11 compatible equipment supports mine dash (sprint) And cannabis coins (CANN). Blake256R14 mines decred (DCR), while Equihash-based machines can mine zcash (ZEC), hash (HUSH) and zencash (ZEN).
SHA256 miners mine Bitcoin (Bitcoin) Approximately 100 TH/s, USD 0.12 per kWh, and mining up to USD 27 per day. The processing speed of top Bitcoin miners is as high as 100 TH/s, but SHA256 miners with at least 11.5 TH/s can make a small profit. In the next few months, some next-generation miners plan to launch.
According to some previous announcements, the upcoming mining equipment with more computing power will be dedicated to consensus algorithms such as Ethash and SHA256. For example, in July 2022, Bitmain is expected to release the Antminer S19 XP (140 TH/s) and Innosilicon’s A11 Pro Ethereum (2,000 MH/s) It is reported that it will be launched soon.
What do you think of today’s top consensus algorithms and the profits that these networks can obtain? Please tell us your thoughts on this topic in the comments section below.
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