Ethereum is the second-largest cryptocurrency in the world, according to market capitalisation, and can be mined using consumer graphics cards.
This has lead to many cryptocurrency enthusiasts building PCs with multiple graphics cards to mine Ethereum.
Depending on the size of your rig, mining Ethereum can be lucrative – particularly once you have paid off your hardware, and taken electricity and cooling costs into account.
Pools and Workers
Most miners don’t mine alone, however, as it is usually more efficient to mine to a “pool”.
Pools allow miners to share their hashing power, working together to confirm blocks and share block rewards – based on the amount of mining power contributed.
When you set up an Ethereum mining rig, you can designate a pool for it to mine to and a destination wallet address.
The pool reads your mining rig as a single worker and monitors your hash rate and mining income, paying out your earned Ethereum to your wallet at set intervals.
If you have invested in multiple mining rigs and they are all mining to the same wallet address, the pool registers them as different workers, but adds their mining power together.
Certain Ethereum mining pools list the top-performing miners according to their hash rates, along with their predicted and past earnings.
We looked at how much the top miners on the ethermine and nanopoolEthereum mining pools earn in one day – as detailed below.
Miners
It must be noted that a mining address does not necessarily refer to an individual person, and could comprise of multiple people mining to the same address.
Estimated earnings per day are calculated based on average block time, average difficulty, difficulty change tendency, and the average hash rate of the miner.
Earnings are shown in Ethereum per day, which were converted to rand using the price of Ethereum on 7 September.
The hash rates, pools, number of workers, and estimated earnings per day of the top miners are shown below.
Miner Address: 0xb9e33a4a1dba378925b7f20d21b5ab2d78ad58f0
- Pool – nanopool
- Hash rate – 239.0GH/s
- Workers – 1,945
- Estimated earnings per day – R156,841
Miner Address: 0x14ec61d3c6745807b03c3164d647e1aea4c88f14
- Pool – nanopool
- Hash rate – 233.8GH/s
- Workers – 1,859
- Estimated earnings per day – R155,266
Miner Address: 0x8aec081e391d275dc0fb8e4697fc252359d353f8
- Pool – ethermine
- Hash rate – 154.3GH/s
- Workers – 8
- Estimated earnings per day – R95,357
Miner Address: 0xa65f825e4f82c26aee244512cba7add256bc0788
- Pool – ethermine
- Hash rate – 113.0GH/s
- Workers – 1,265
- Estimated earnings per day – R82,030
This article first appeared on MyBroadband and is republished with permission.
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im new to all this….how do i start it and would it be profitable?