Cryptocurrencies have jumped quite a bit in value over the course of the year and miners who verify transactions and earn digital assets have seen significant profits. While bitcoin miners have been seeing daily profits rise, a great number of other mineable digital currencies are pulling in much larger yields.
Blake256R14 and Ethash Machines Pull Bigger Profits Than SHA256 Mining Devices
The overall valuation of all cryptocurrencies in existence is around $1.5 trillion as digital asset values have risen considerably in 2021. While a great number of blockchains leverage consensus algorithms like proof-of-stake (PoS), there’s plenty of coins that can be mined with a machine like an application-specific integrated circuit (ASIC) mining rig.
Mining rigs that can mine bitcoin (BTC) using the SHA256 algorithm can bring in anywhere between $7 to $16 per day in profits. That’s of course if the miner is using the latest hardware with at least 50 terahash per second (TH/s) of hashpower.