Since the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), ethereum is no longer minable and miners are now issuing hashrates to various PoW chains. Since ethereum can no longer be mined, the most profitable PoW consensus algorithms are Kadena, Scrypt and Cuckatoo32. Five days ago, before the merger, the consensus algorithm Etash was the most profitable, with the top miner earning $79.53 per day. Today’s top miner, Ethereum out of the picture, is Cadena, which accumulates about $69.41 per day.
Today’s top 7 mining PoW algorithms include Kadena, Scrypt, Cuckatoo32, Blake2B-Sia, X11, Equihash and SHA256.
According to the latest data from asicminervalue.com, the PoW consensus algorithm is not the most profitable consensus scheme for me after the Paris reform triggered the Ethereum merger. As of September 15th, Cadena has become the most profitable consensus algorithm this year. A Bitmain application-specific integrated circuit (ASIC) mining rig earns $69.41 per day in electricity costs at $0.12 per kilowatt hour (kWh). Miners PoW blockchain Kadena (KDA) and Antminer KA3 produce approximately 166 TH/s.
Kadena’s network hashrate is around 0.21 Ekhash per second (EH/s) or 212.8632 petahashes per second (PH/s). The second most profitable consensus algorithm using ASIC mining is Scrypt, the consensus scheme associated with litecoin (LTC) and dogecoin (DOGE). In addition to DOGE and LTC, a handful of other digital asset networks such as Verge (XVG) and Digibyte (DGB) use Scrypt. Today’s top miner, Bitmain’s Antminer L7, can earn approximately $13.09 in daily profit. The three top miners below Antminer KA3 are all Scrypt miners made by Bitmain.
Below Cadena and Script, the third most profitable PoW consensus algorithm is Grin’s Cuckatoo32. The maximum Cuckatoo32 ASIC mining tool can earn an estimated profit of $7.48 per day. Below Cuckatoo32 includes consensus algorithms such as Blake2B-Sia, X11, Equihash and SHA256. The consensus method SHA256 is used by crypto networks such as bitcoin (BTC), bitcoin cash (BCH), bitcoinsv (BSV) and namecoin (NMC).
SHA256 is the seventh most profitable consensus algorithm and a BTC miner using Antminer S19 XP at 140 TH/s earns around $2.60 per day. With Ethereum removed from the equation, people can mine ethereum coins like ethereum classic (ETC), but the top ethereum mining rigs are less profitable than the amount of time people can mine ether.
At the time of writing, Bitmain’s Antminer E9 has an Itash hash power of 2.4 gigahash per second and is valued at $0.45 per day. On September 12, according to statistics reported by asicminervalue.com, the same machine mining ethereum (ETH) costs $53.45 per day. Innosilicon’s A11 Pro ETH miner at 1,500 megahashes per second (MH/s) is not profitable and daily use results in a loss of $3.03 per day. Five days ago, on September 12, the same machine made a profit of $30.09 per day.
What do you think about the top seven mining consensus algorithms after Ethereum dropped PoW? Let us know what you think about this in the comments section below.
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