Cryptocurrencies have jumped quite a bit in value over the course of the year and miners who verify transactions and earn digital assets have seen significant profits. While bitcoin miners have been seeing daily profits rise, a great number of other mineable digital currencies are pulling in much larger yields.
Blake256R14 and Ethash Machines Pull Bigger Profits Than SHA256 Mining Devices
The overall valuation of all cryptocurrencies in existence is around $1.5 trillion as digital asset values have risen considerably in 2021. While a great number of blockchains leverage consensus algorithms like proof-of-stake (PoS), there’s plenty of coins that can be mined with a machine like an application-specific integrated circuit (ASIC) mining rig.
Mining rigs that can mine bitcoin (BTC) using the SHA256 algorithm can bring in anywhere between $7 to $16 per day in profits. That’s of course if the miner is using the latest hardware with at least 50 terahash per second (TH/s) of hashpower.
Both Microbt and Bitmain produce the top BTC mining rigs on the market today because they pull in the most profits. Using today’s BTC mining difficulty and electricity costs — around $0.12 per kilowatt-hour (kWh) — the Bitmain Antminer S19 Pro and the Microbt Whatsminer M30S++ get around $16 per day in profits.
While that’s good, some mining rigs that mine other types of crypto assets make considerably larger profits in comparison. One such example is decred (DCR), as a mining rig that processes the Blake256R14 algorithm can make between $40 to $50 per day.
The top two decred mining devices include the Strongu STU-U1++ and the Microbt Whatsminer D1. Microbt’s machine pulls 2,200 watts off the wall and produces around 48 TH/s in hashpower. Statistics indicate that the Strongu device also pulls 2,200 watts but produces about 52 TH/s.
Coins that can be mined…