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      How to calculate the efficiency of Bitcoin and Ethereum mining?
      Liya Miller
      info@promminer.com
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      How to calculate the efficiency of Bitcoin and Ethereum mining?

      Any businessman or investor planning to invest in a certain business is interested in a completely logical question - how much profit awaits him? Cryptocurrency mining is no exception in this regard. A lot of people have been looking at a relatively new and progressive industry for a long time, which is tied to unfamiliar words - mining, blockchain and cryptocurrency. 
      But before understanding in detail the complex terms and the principle of operation of ASICs or video cards, one should consider the efficiency of the entire enterprise. Efficiency can be understood as the profit that you will receive as a result of a potential investment in mining. As an example, let's take the two most common cryptocurrencies - bitcoin (BTC) and ethereum (ETH).


      Efficiency of bitcoin mining

      Based on the chronology and capitalization, bitcoin can be called the main cryptocurrency in the world. She appeared the very first, and has been holding the lead for more than a decade. This BTC attracts millions of investors who want to invest in the most famous coin. 
      It is worth noting that due to the development of the industry, the only effective way to mine bitcoin is ASIC miners. Previously, it was possible to get BTC using graphics processors (GPUs), but with the advent of ASICs created specifically for cryptocurrency mining and having fantastic characteristics, GPUs have lost their relevance and advantages in the context of bitcoin mining. 
       For an example of determining the efficiency of bitcoin mining, let's take the Antminer T17 asic, the calculation speed of which is 40 TH/s. The cost of this hardware is about $1,000, and its consumption is about 2,310 watts of electricity. 
      Based on the current bitcoin rate of $20.5 thousand, using a special BTC profitability calculator, you can find out that a farm from one Antminer T17 will bring about 0.000181 BTC per day. That is almost $4. It is easy to calculate that Antminer T17 will bring its owner $120 per month (provided that the bitcoin rate remains unchanged). It turns out that you can recoup the purchase of this ASIC in just 9 months. 

      Quick payback and subsequent profit are the undoubted advantages of ASIC miners. Therefore, the benefit in bitcoin mining remains even with the current exchange rate and level of competition. To increase your potential profit, you can join a mining pool, however, this will entail additional costs and an extra headache. 


      Ethereum Mining Efficiency

      The ETH calculation scheme is exactly the same, with the only difference that now we take not an ASIC, but a video card. For example, the common RTX 3080 model. With its help, you can earn 0.0013 ETH per day, or $2.3 at the current exchange rate. Thus, your monthly income will be about $69. The payback period of the video card in this case will be about one and a half years, but since the GPU is much cheaper than ASICs, at moderate costs you can expand your mining farm and thereby multiply your income. Therefore, beginners are advised to start their journey in cryptocurrency mining from video cards. 


      Conclusion It

      is not possible to directly compare the efficiency of bitcoin and ethereum mining, since often completely different hardware are involved in the mining of these cryptocurrencies. In the case of ETH, you don’t need a lot of capital and production facilities in the form of a separate room for ASICs to start, since video cards can be placed at home. 
      However, from the point of view of profit from one hardware, it is more efficient to mine BTC. One ASIC miner is able to replace an entire farm of video cards, which must be constantly maintained and monitored for proper operation. After all, the more hardware in your farm, the higher the risk that one of them will break. In addition, asics do not need a complex add-on - it is enough to connect them to the network, turn them on and just count the profit. While it is very difficult to prepare a GPU for work without the help of specialists. 
      If this article did not answer all your questions or you want to get more information about cryptocurrency, subscribe to our telegram channel - there we talk about complex things in simple language. 



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