Mining Digital Gold — These Are the Most Profitable Proof-of-Work Algorithms in 2024

In September 2022, Bitcoin’s SHA256 algorithm ranked arsenic the seventh astir lucrative proof-of-work (PoW) web for mining. Fast guardant a twelvemonth and 4 months, and this algorithm has ascended to go the 3rd astir profitable crypto web for mining operations.

2022 to 2024 Sees Significant Shifts successful Crypto Mining Profitability

As of January 2024, the ranking of the astir profitable crypto networks for mining has evolved from what it was successful 2022. Back successful September 2022, Kadena stood astatine the forefront arsenic the starring mineable proof-of-work (PoW) algorithm, enabling miners to extract kadena (KDA). However, today, the apical spot for the astir lucrative PoW web for mining is held by kaspa (KAS), which utilizes the Kheavyhash algorithm.

On Sunday, Jan. 21, mining with 9.2 terahash per 2nd (TH/s) of Kheavyhash hashpower is reported to output astir $69 per day, based connected current data from asicminervalue.com. This includes the regular energy disbursal complaint of $0.12 per kilowatt hr (kWh). Currently, Bitcoin’s SHA256 occupies the 2nd spot successful presumption of profitability, yet the caller surge successful grin (GRIN) values has elevated the Cuckatoo32 algorithm successful presumption of earnings.

Operating nether the aforesaid electrical outgo of $0.12 per kWh, a miner with a capableness of 36 graphs per 2nd (GPS) tin execute a regular nett of $12.29 mining GRIN. Following intimately is the SHA256 algorithm of Bitcoin, wherever machines with hashpower ranging from 335 to 390 terahash per 2nd (TH/s) could output regular net of $10.60 to $11.52, assuming an energy complaint of $0.12 per kWh. The starring producers of these precocious hashrate-producing devices are Bitmain and Microbt.

In 2024, the adjacent 2 astir profitable mining algorithms are Ethash and Blake2B-Sia. Ethash is linked with cryptocurrencies specified arsenic ethereum classical (ETC), portion miners susceptible of handling Blake2B-Sia tin extract siacoin (SC) and scprime (SCP). An Ethash hashrate of astir 6 gigahash per 2nd (GH/s) is estimated to output astir $10.40 daily, whereas 17 terahash per 2nd (TH/s) of Blake2B-Sia mining powerfulness tin make astir $9.27 each day, factoring successful energy costs of $0.12 per kilowatt hr (kWh).

Following Blake2B-Sia successful the profitability ranking are the algorithms X11 and Kadena. X11 mineable currencies, including dash (DASH) and cannabiscoin (CANN), tin output a decent instrumentality with the close hashrate. Specifically, astir 2 terahash per 2nd (TH/s) of X11 hashrate is estimated to make astir $7.57 daily. As antecedently mentioned, the Kadena algorithm has dropped successful the ranking, but a important 177 TH/s of Kadena hashrate tin inactive nutrient an estimated $7.47 per day.

Interestingly, the profitability of Scrypt mining has diminished compared to its highest successful September 2022. Scrypt, which mines litecoin (LTC) and dogecoin (DOGE), was the 2nd astir profitable statement algorithm astatine that time. Today, Scrypt mining ranks arsenic the 12th astir profitable algorithm, trailing down others specified arsenic Handshake, 2, Randomx, and Cryptonightr. Ethash antecedently held a ascendant presumption successful mining algorithms earlier the Ethereum upgrade, known arsenic The Merge, which occurred connected Sept. 15, 2022. Since that pivotal event, its profitability has been comparatively lackluster.

What bash you deliberation astir the apical mineable statement algorithms? Let america cognize what you deliberation astir this taxable successful the comments conception below.