Top earning coins for GPU miners, 28 August 2018
– Monero still the miners’ favourite
Monero’s (XMR) $6 miner reward (10000 hash) places it at the top of the leaderboard.
Rewards are shown in dollars and in the crypto being mined. Electroneum (ETN), which it is possible to mine on a smartphone (although it will hammer its components), is still making itself just about relevant but arguably as nothing more than a coin that exists to be mined. Daily earnings for ETN are $0.16. Aeon is much better, earning a miner $4.54 a day.
Crypto mining has been struggling of late as witnessed in the poor results at chipmaker Nvidia. A surfeit of GPUs has driven down prices for GPU rigs but the big money is still with ASICs on the bitcoin network.
Nevertheless, you can still pretend it is the old days and do some mining for yourself using some spare computing capacity. Obviously such a venture helps if you have a cheap source of electricity.
The need to diversify is one of the reason the industry leaders are looking to go to the public markets to raise capital. That’s what Bitmain is doing with its initial public offering in Hong Kong. Artificial Intelligence and commercial rendering, both of which require large amounts of computing power, are increasingly attractive alternative use cases for crypto miners looking to diversify.
However, as the bear market recedes mining opportunities should grow accordingly. Even if you don’t make a lot of money it is a great hands-on way to learn more about how crypto works.
Bitcoin is currently trading at $7,111.
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Gary has been writing about cryptocurrencies since 2013 and currently works as the cryptocurrency analyst at interactive investor, the UK’s second-largest online investment platform. Gary contributes for Coin Intelligence News in a personal capacity and none of his commentary should be considered investment advice. Gary is the winner of the ADVFN International Financial Awards 2018 Cryptocurrency Writer of the Year. Contact Gary on twitter at: @gary_mcfarlane