Crypto Market’s Spring Forward Leap Helps Both Next-Gen and Older Mining Machines Produce Profits
The miners that were processing the SHA-256 algorithm have noticed some profits trickling in; this is after the price of Bitcoin and Bitcoin cash had started getting some gains. But all this had changed since last December when it was reported that only five of the SHA256 miners had actually profited at the period.
Now looking at the market, it has been noted that several devices are performing well, according to the data collected, this is at an average of $0.10 per KWH. While the top ten miners in the market can clear about $10-15 in a day per unit.
China is the Cheapest Country to Mine
According to some statistics that were collected, it was found that China is the cheapest place in 2019 to mine the SHA-256 coins, this is the likes of BTC and BCH. Countries like Russia, India, and Canada follow suit. When looking at countries within Europe and the U.S, they have average prices on electricity.
Germany, Belgium, Italy, and Denmark have been ranked as the worst countries you could mine from. It is because each country has about $0.15-0.30+ per KWH. When you look at places like China, electricity is very cheap, the mining rig vendors in the community who are selling the second-hand machines tend to sell more of the older devices. The prices actually tend to double.
The Mining Algorithm is Shifting
Looking at the market today. The miners who are still mining the SHA256 algorithm that is processing either BCH or BTC are not the most profitable. For the devices that can extract, grin and sia are able to enjoy large profits.
With the new data presented, the 112 mining devices that have been designed in a manner they can mine different types of crypto coins are able to profit about $0.10 per unit in a day. With this attracting an electric cost of about $0.10 per KWH.
Thus mining different coins increase your profit per day. The BCH and the BTC are the top SHA-256 crypto coins. It is because they have been able to see some significant hash rate increase; this could be because of the fresh profit being enjoyed in the community.