The end of the year is approaching and digital currencies values are rising rapidly in 2021. Crypto asset miners have made a lot of money as a result. Statistically, kadena was the most profitable cryptocurrency to mine at November’s end. A 18 terahash (18TH/s) machine can make up to $326 per hour. The second-most profitable coins these days are Scrypt Coins, which can earn up to $110 per daily. Ethash miners make as much as $105 per hour.
Kadena and Scrypt Mining far more profitable than SHA256 Mining
Bitcoin was first introduced 13 years ago. The cryptocurrency could still be mined by anyone with a central processor unit (CPU). It meant that any person with a computer of sufficient quality could mine Bitcoin (BTC), and get block rewards. The next phase was when people began to make use of special electronic circuits known as graphics processing units (GPUs) and then they started using them.
Bitcoin miners today use application-specific integrated Circuit (ASIC), devices to mine BTC. The SHA256 algorithm is used to mine bitcoins. This means that a bitcoin ASIC mining machine cannot mine coins such as ethereum or litecoin.
Those networks leverage different consensus algorithms and there’s a slew of machines manufactured to mine specific crypto asset networks with unique consensus algorithms. Bitcoin uses SHA256 as a consensus algorithm, however, SHA256 miners are able to mine bitcoin cash (BCH), Bitcoinsv (BSV), peercoin(PPC) and unbreakable coins (UNB).
At November 20,21, the fifth most profitable cryptocurrency to mine is SHA256. Kadena (Scrypt), Ethash, Eaglesong, and Ethash are today’s top four most profitable algorithms for mining consensus.
According to asicminervalue.com statistics, a Kadena-based ASIC miner can earn up to $326 per daily with 18 TH/s and $0.12 per kilowatthour (kWh). An Scrypt-based miner that produces 9.5 gigahash per seconds (GH/s), can make $110 per daily with similar electrical costs.
ASIC machines that mine the algorithm Ethash can generate up to $52 per hour (750 megahash per minute (MH/s). Eaglesong-based mining machines that mine nervos can earn $45 per hour with 12 TH/s.
Next-Generation Mining Rigs For Ethash And SHA256 are on the Horizon
Other consensus algorithms include Blake2bsia (X11), Blake256R14, Equihash, and Blake256R14. Compatible mining rigs for Blake2bsia mine sia and handshake, while compatible rigs for X11 mine dash and cannabiscoin. Decred is mined by Blake256R14, while Equihash-based machines are capable of mining zcash(ZEC), Hush (HUSH) and Zencash (ZEN).
Miners who mine bitcoin (BTC), SHA256, at around 100 TH/s and $0.12 perkWh can earn up to $27 per daily mining. Although the fastest bitcoin miners are capable of processing at speeds exceeding 100 TH/s, miners who have at most 11.5 TH/s could turn a modest profit. A number of new-generation miner models are expected to be launched over the coming months.
According to a few announcements before, future mining rig releases will pack a greater amount of hashpower and be dedicated to consensus algorithms like Ethash (and SHA256). For instance, in July 2022, Bitmain is expected to release the Antminer S19 XP (140 TH/s) and Innosilicon’s A11 Pro ETH (2,000 MH/s) is reportedly coming soon as well.
How do you feel about today’s top consensus algorithms? And the potential profits they could bring in? Comment below and let us know how you feel about the subject.
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