Data shows a variety of crypto networks are more profitable for mining than Bitcoin – Mining Bitcoin News

Towards the end of the year, digital currency values ​​rose sharply in 2021 and crypto asset miners benefited. According to statistics, the most profitable coin to me at the end of November is Kadena, since a machine with 18 terahash (TH/s) can earn up to 326 dollars per day. Scrypt coins are the second most profitable these days, earning up to $110 per day, and Ethash miners can earn up to $105 per day.

Kadena, Scrypt, Ethash and Eaglesong Mining Far more profitable than SHA256 mining

When Bitcoin launched almost 13 years ago, the cryptocurrency could be mined using a central processing unit (CPU). This means that anyone with a decent computer could mine and find Bitcoin at the time ( BTC ) Block rewards. After this phase, people started using devices with special electronic circuits called graphics processing units (GPUs).

Today, Bitcoin miners use Application Specific Integrated Circuits (ASIC) for mining BTC. Bitcoin mining rigs dedicate computing power to the SHA256 algorithm and this means that a Bitcoin ASIC mining device cannot mine coins like Ethereum, Litecoin or Kadena.

These networks use different consensus algorithms, and there are a number of machines manufactured to mine specific crypto asset networks with unique consensus algorithms. SHA256 is a consensus algorithm used by Bitcoin, but SHA256 miners can also mine coins like Bitcoin Cash ( BCH ), Bitcoinsv ( BSV ), peercoin (PPC) and unbreakable (UNB).

SHA256 cryptocurrencies are the fifth most profitable at the end of November 2021. The four most profitable consensus algorithms to mine today include Kadena, Scrypt, Ethash and Eaglesong.

A Kadena-based ASIC miner can earn up to $326 per day at 18 TH/s at $0.12 per kilowatt hour (kWh), according to statistics from asicminervalue.com. A Scrypt-based miner at 9.5 gigahash per second (GH/s) can earn $110 per day for the same electricity cost.

750 megahash per second (MH/s) ASIC machines mining the Ethash (ethereum, ethereum classic, pirl) algorithm can earn up to $52 per day. Eaglesong-based mining rigs mining Nervos (CKB) can earn $45 per day at 12 TH/s.

Next generation mining rigs for Ethash and SHA256 are in sight

There are also consensus algorithms such as Blake2bsia, X11, Blake256R14 and Equihash. Blake2bsia-compatible mining rigs Mine sia (SIA) and Handshake (HNS), while X11-compatible mining rigs Mine Dash ( HYPHEN ) and Cannabiscoin (CANN). Blake256R14 mines Decred (DCR), while Equihash-based machines can mine Zcash (ZEC), Hush (HUSH), and Zencash (ZEN).

SHA256 miners that mine Bitcoin ( BTC ) at around 100 TH/s at $0.12 per kWh can reach up to $27 per day mining. The top Bitcoin miners process at speeds of up to 100 TH/s, but SHA256 miners with at least 11.5 TH/s can make a small profit. A number of next-generation miners are expected to hit the market in the next few months.

Upcoming mining rig releases containing much more hashpower will be dedicated to consensus algorithms such as Ethash and SHA256, according to some previous announcements. For example, in July 2022, Bitmain will release the Antminer S19 XP (140 TH/s) and Innosilicon's A11 Pro. publish ETH (2,000 MH/s) should also come soon.

What do you think about today's top consensus algorithms and the profits these networks can generate? Let us know your thoughts on this topic in the comments below.

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