These Are the Most Profitable Proof-of-Work Algorithms Since Ethereum Moved to Proof-of-Stake

Ethereum can no longer be mined since the switch from proof-of work (PoW), to proof-ofstake (PoS). Therefore, miners have been dedicating hashrate for different PoW chains. The most profitable PoW consensus algorithms for ethereum are Kadena and Scrypt. Five days before The Merge, consensus algorithm Ethash was the most lucrative, with the top miner earning $79.53 per daily in profits. The top-ranked mining rig today, with Ethereum out, earns approximately $69.41 per day mining Kadena.

The Top 7 Most Mineable PoW Algorithms Today Are Kadena and Scrypt, Cuckatoo32. Blake2B-Sia. X11, Equihash. SHA256's latest data shows that the PoW consensus algorithm has fallen from favor since Ethereum's Merge. Kadena is the most profitable consensus algorithm in this year's history since September 15. Bitmain's Antminer KA3 application-specific integrated circuit (ASIC), mining rig earns an average $69.41 per day, with electricity costs of $0.12 per kilowatthour (kWh). The Antminer KA3 generates an estimated 166 TH/s.

Kadena's network havehrate is 0.21 exahash per sec (EH/s), or 212.8632 peahash/sec (PH/s). Scrypt is the consensus scheme associated to litecoin and dogecoin. It's the second-most profitable consensus algorithm that an ASIC mining machine can mine. Scrypt is also used by a few other digital asset networks, such as verge (XVG), digibyte (DGB), and DOGE (LTC). Bitmain's Antminer KA3 is the top miner today, earning an estimated $13.09 per day in profits. Bitmain has produced three Scrypt miners, the Antminer KA3 and the Antminer L7.

Grin's Cuckatoo32 is the third most profitable PoW consensus algorithm, after Scrypt and Kadena. Cuckatoo32 ASIC miners can earn $7.48 per daily in profits. Cuckatoo32 below includes consensus algorithms like Blake2B-Sia and X11, Equihash and SHA256. Crypto networks like namecoin, bitcoin cash (BCH), bitcoinsv(BSV), and bitcoin cash (BCH) can leverage the consensus mechanism SHA256.

SHA256 is seventh most profitable consensus algorithm. A BTC miner leveraging Antminer S19 XP at 140 TH/s earns around $2.60 per daily. People can still mine Ethash coins such as ethereum classical (ETC) even though Ethereum has been removed from the equations. However, the top Ethash mining machines produce much less profit than when they could mine ether.

Bitmain's Antminer E9, which produces 2.4 gigahash per minute of Ethash hashpower, is currently making an estimated $0.45 per daily. According to stats, the machine that mined ethereum (ETH), produced $53.45 per daily on September 12. The Innosilicon A11 Pro ETH miner has 1,500 megahashes per second (MH/s) and is not profitable. Daily use results in a $3.03 loss. The same machine made $30.09 per daily profits five days ago on September 12.

What do you think of the top seven minable consensus algorithms since Ethereum dropped PoW. Comment below to let us know your thoughts on this topic.

By: Jamie Redman
Title: These Are the Most Profitable Proof-of-Work Algorithms Since Ethereum Moved to Proof-of-Stake
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Published Date: Sat, 17 Sep 2022 15:30:07 +0000

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