Ethereum Classic (ETC) Mining Profitability Has Been Growing Steadily (Stats Inside)
- At one point, ETC was ranked in the list of top -10 crypto assets by overall market capitalization. However, the digital currency is now ranked 20th on the same list.
- Supporters of ETC claim that it is the only ETH hard fork to have stayed true to the original vision of the currency.
As most of our regular readers are probably well aware of, Ethereum Classic [ETC] first came into existence during the latter half of 2016. Upon its inception, the currency was viewed as a fork of ETH that stuck to the original Ethereum blockchain and could be used by developers to create a host of novel dApps (decentralized applications) as well as smart contracts.
With that being said, it bears mentioning that over the past couple of years, the currency has been sliding in value — with a single token currently trading around the $7.79 mark. Additionally, the once sought after altcoin currently possesses a total market cap worth $870 million. However, despite all this, over the last 12-14 months, ETC mining activity has been on the rise, with many crypto enthusiasts claiming that the currency is on the verge of a serious breakout.
As can be seen from the chart above, Ethereum Classic’s [ETC] mining profitability has been on a steady rise since the start of the year. Not only that, a number of independent research studies have shown that the most profitable ETC-oriented mining pool right now is ’2Miners’ — which recorded a profitability ratio of 100% and displayed a weekly income of 21.391 ETC [$164.50]/1 GH/s.
Ethermine — another extremely popular mining pool — also registered returns of over 98% during the last week or so. To be a bit more specific, we can see that the pool’s weekly income stands at 20.486 ETC [$162.06]/1 GH/s.
Lastly, Nanopool was able to rake in profits of around 95% (estimated returns of $20.486 ETC [$157.54] /1 GH/s) over the week gone by.