Tue. Feb 27th, 2024

What Is The Most Profitable To Mine Crypto

Cryptos To Mine

✍️ 18 October, 2022 – 15:17 👤 Editor: Jakub Motyka

Crypto miners have had a rough year following a market rout. Bitcoin, for instance, has remained around $20k, a fraction of 2021’s ATH of $68k. Most of the altcoins are trading even much less.

Despite that, the digital mining sector is expanding. Binance just announced the launch of a cloud mining business for next month. Similarly, the crypto exchange has unveiled a $500 million lending fund. Below is the list of the most valuable cryptos to mine.

Dogecoin (DOGE)

Top on the list of the most lucrative cryptos to mine, is Dogecoin (DOGE). The meme crypto network’s hashrate currently stands at 349.5 TH/s.

In addition, for blocks up to 4,435,709, the protocol rewards are 10,000 for a block time of a minute. DOGE mining has a daily revenue per day of $21.93, equivalent to a profit of $13.71 without the electricity charge.

Tesla billionaire Elon Musk’s Dogecoin endorsements drove DOGE to as high as a $90 billion market cap at its peak. The value has since dipped to around $7.8 billion.

Verge (VXG)

Verge is one of the most popular privacy-centered blockchain. It aims for fast, efficient, and decentralized payments. The network’s hashrate is at 349.5 TH/s, with block rewards at 50 for 6, 250,152 blocks at a block time of 30 seconds.

Verge’s daily revenue per day is $19.51, subject to an electricity cost of $8.22. Particularly, the network’s mining profits per day are at $11.29. The platform’s native token, VXG, is currently trading at $0.003207, down 1.54%, in the past day.

Peercoin (PPC)

The current Peercoin (PPC) network’s mining hashrate is 43.39 PH/s. Further, the block rewards are at 55.17 for 648,376 blocks at 10 minutes block time.

As it stands, mining Peercoin turns in about $14.09 in daily revenue, less $7.22 for electricity. The estimated daily profits stand at $6.87.  

Peercoin is one of the earliest blockchain platforms that debuted in 2012. Its native token, PPC, is also used in governance.

BitcoinCash (BCH)

The native token to the Bitcoin fork, BitcoinCash (BCH), is at 1.42EH/s mining hashrate. The current BCH daily revenue is $9.77. With the electricity cost of $7.22, the mining profits is at $2.54.

BitcoinCash is a peer-to-peer payment between individuals for instant settlement. The open source network attracts as low as $0.01 transaction fee. 

Bitcoin (BTC)

Last on our list is Bitcoin (BTC). The top-ranking blockchain currently has a hashrate of 246.16EH/s. Its block rewards are at $6.25 for 759,203 blocks at a block time of 10 minutes. Bitcoin daily mining revenue is estimated at $9.72, less the cost of electricity 7.22, with a daily profit of $2.49.

More crypto news:

EN: Jared Kirui is an experienced financial writer with a passion for all things blockchain technology. Previously, he was into stock markets and forex, providing asset managers with top-notch content. With a flair for producing high-quality articles, he started covering crypto news in 2021. He is open-minded, trades for fun, and enjoys sports.

ES: Jared Kirui es un escritor financiero experimentado apasionado por todo lo relacionado con la tecnología blockchain. Anteriormente, estuvo en los mercados bursátiles y forex, brindando a los administradores de activos contenido de primer nivel. Con un don para producir artículos de alta calidad, comenzó a cubrir noticias crypto en 2021. Tiene una mente abierta, comercia por diversión y disfruta de los deportes.
Jared Kirui
Latest posts by Jared Kirui (see all)

Image sources:

Crypto Writer Jared

By Jared Kirui

EN: Jared Kirui is an experienced financial writer with a passion for all things blockchain technology. Previously, he was into stock markets and forex, providing asset managers with top-notch content. With a flair for producing high-quality articles, he started covering crypto news in 2021. He is open-minded, trades for fun, and enjoys sports. ES: Jared Kirui es un escritor financiero experimentado apasionado por todo lo relacionado con la tecnología blockchain. Anteriormente, estuvo en los mercados bursátiles y forex, brindando a los administradores de activos contenido de primer nivel. Con un don para producir artículos de alta calidad, comenzó a cubrir noticias crypto en 2021. Tiene una mente abierta, comercia por diversión y disfruta de los deportes.

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *