Since the transition from proof of work (PoW) to proof of stake (PoS), Ethereum cannot be mined and miners now dedicate the hashrate to different 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 Merge, consensus algorithm Ethash was the most profitable, as the top miner reaped $79.53 per day in profit. Today’s top mining rig, with Ethereum out of the picture, earns around $69.41 a day in mining kadena.
Today’s top 7 exploitable PoW algorithms include Kadena, Scrypt, Cuckatoo32, Blake2B-Sia, X11, Equihash, and SHA256
According to the last Data from asicminervalue.com, the PoW consensus algorithm is no longer the most profitable consensus scheme to mine since the Paris upgrade triggered the Ethereum merger. Since September 15, Kadena has become the most profitable consensus algorithm this year. Bitmain’s application-specific integrated circuit (ASIC) mining rig, the Antminer KA3, receives around $69.41 per day with electricity costs of $0.12 per kilowatt-hour (kWh). The miners mine the PoW Kadena (KDA) blockchain and the Antminer KA3 produces around 166 TH/s.
Kadena’s network hashrate is approximately 0.21 exahash per second (EH/s) or 212.8632 petahash per second (PH/s). The second most profitable consensus algorithm using an ASIC mining rig is Scrypt, the consensus scheme associated with Litecoin (SLD) and dogecoin (DOGE). Besides DOGE and SLD, a handful of other digital asset networks like verge (XVG) and digibyte (DGB) also leverage Scrypt. Today’s best miner, Bitmain’s Antminer L7, can earn about $13.09 in daily profits. The three main miners under the Antminer KA3 are all Scrypt miners produced by Bitmain.
Under Kadena and Scrypt, the third most profitable PoW consensus algorithm is Grin’s Cuckatoo32. The best Cuckatoo32 ASIC mining device can generate around $7.48 per day in profit. Below, Cuckatoo32 includes consensus algorithms such as Blake2B-Sia, X11, Equihash and SHA256. The SHA256 consensus mechanism is leveraged by crypto networks such as bitcoin (BTC), bitcoin cash (BCH), bitcoin v (BSV), and namecoin (NMC).
SHA256 is the seventh most profitable consensus algorithm and a BTC miner leveraging an Antminer S19 XP with 140 TH/s gets around $2.60 per day. With Ethereum removed from the equations, people can still mine Ethash coins like Ethereum Classic (ETC), but the best Ethash mining devices produce little profit compared to when people could mine ether.
At the time of writing, Bitmain’s Antminer E9 with 2.4 gigahash per second of Ethash hashing power fetches around $0.45 per day. On September 12, the same machine mining ethereum (ETH) product $53.45 per day, according to statistics recorded by asicminervalue.com. Innosilicon A11 Pro ETH mining, with 1,500 megahash per second (MH/s), is not profitable and its daily use results in a loss of $3.03 per day. Five days ago, September 12, the same machine was producing $30.09 per day in profit.
What do you think of the top seven exploitable consensus algorithms since Ethereum abandoned PoW? Let us know what you think about this topic in the comments section below.
Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.
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