Alternative mining algorithms are expected to be more profitable than Bitcoin mining in 2021

Cryptocurrencies have soared in value over the past year, and miners verifying transactions and creating new digital assets have made significant gains. While Bitcoin miners’ daily profits have increased, many other minable digital currencies are generating much larger returns.

Blake256R14 and Ethash machines are more profitable than SHA256 miners

The total valuation of all existing cryptocurrencies is around $ 1.5 trillion, as their value has increased significantly by 2021. While a large number of blockchains use consensus algorithms such as the Proof of Stake (PoS), there are many coins that can be mined with a machine such as a dedicated integrated circuit (ASIC) mining rig.

Mining rigs that can mine bitcoins using the SHA256 algorithm can bring in profits of $ 7 to $ 16 per day. That is natural if the miner is using the latest equipment with at least 50 terahash per second (TH / s) hashing power.

Both Microbt and Bitmain produce the best bitcoin mining rigs on the market today as they are the most profitable. With today’s Bitcoin mining difficulties and electricity costs – around $ 0.12 per kilowatt hour (kWh) – Bitmain Antminer S19 Pro and Microbt Whatsminer M30S ++ are getting around $ 16 a day.

While this is great, some mining rigs that mine other crypto assets produce significantly higher returns by comparison. One such example is Decred (DCR), as a mining rig that processes the Blake256R14 algorithm can make anywhere from $ 40 to $ 50 a day.

The winning stats in this article are as of June 4th, 2021 from Asicminervalue.com.

The two best miners include the Strongu STU-U1 ++ and the Microbt Whatsminer D1. The Microbt machine consumes 2,200 watts and generates around 48 TH / s hash power. Statistics show that the Strongu device also consumes 2,200 watts but generates around 52 TH / s.

Coins that can be mined using the Ethash consensus algorithm (Ubiq, Ethereum, Ethereum Classic, Pirl, and Callisto) show that their mining rigs are also profitable. For example, the Innosilicon A10 Pro + ETH Miner achieves around 759 megahash per second (MH / s) and a profit of 50 US dollars per day.

Equihash and Scrypt

According to Ethash Profits, the Equihash consensus algorithm, which mines coins like Zcash, Zencash, Komodo, and more, also produces profitable returns. The best mining rig that Equihash consensus hash rate can devote is Bitmain’s Antminer Z15.

Antminer Z15 makes about $ 47 per day with a maximum hash rate of 420 ksol / s (solutions per second) and a power consumption of about 1,510 watts. The second best unit comes from Bitmain’s powerful Equihash miner – Innosilicons A9 ++ Zmaster. It works around 140 ksol / s and only collects $ 11 a day.

However, Zmaster outperforms the majority of bitcoin mining SHA256 miners. Even Litecoin miners will make better profits by mining Scrypt. At the time of publication, the lower Innosilicon A6 + Ltcmaster and A6 are the two best Litecoin miners.

The lower-priced device gets around $ 16 per day while the A6 + gets $ 31 per day. Owners of Scrypt mining rigs do not need to mine Litecoin either, as they can also mine Dogecoin (DOGE), Gamecredits (GAME) and Verge (XVG).

Behind all the profits from mining rigs that generate coins from algorithms like Blake256R14, Ethash, Equihash, and Scrypt, is SHA256. The SHA256 algorithm can mine Bitcoin as well as coins such as Bitcoin Cash (BCH) and Bitcoinsv (BSV).

Although margins are lower on SHA256 devices, the variety of SHA256 devices is still growing in proportion to the number of devices using alternative consensus algorithms. There are even more products and manufacturers making Bitcoin miners and the variety of SHA256 machines is sure to dwarf all of the mining rigs mentioned above and take advantage of the various mining rules available.

Mr. Teacher

According to News.Bitcoin

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