Whereas Bitcoin is widely known as a proof-of-work (PoW) community, it’s not essentially probably the most worthwhile PoW asset to mine. With Bitcoin’s hashprice being comparatively low, miners have been more and more turning their consideration to mining alephium (ALPH) and kaspa (KAS). These two digital currencies at present provide the best profitability for miners, in keeping with the most recent mining knowledge.
Crypto Miners Discover New Frontiers
As we strategy the ultimate 4 months of 2024, bitcoin’s SHA256 consensus algorithm ranks because the fourth most worthwhile to mine. On Aug. 21, 2024, probably the most profitable bitcoin mining rig is Microbt’s Whatsminer M63S, producing $9.08 per day with its 390 terahash per second (TH/s) of hashpower. The algorithms outperforming SHA256 immediately embrace Blake3, Kheavyhash, and Scrypt.
Presently, in keeping with asicminervalue.com, a Blake3-powered Bitmain ALPH miner AL1, which delivers 15.6 TH/s and boasts an effectivity score of 225 joules per terahash (J/T), can yield $308 per day after accounting for $0.04 per kilowatt hour (kWh) in electrical energy prices. Blake3 additionally helps the Decred community, however most of its hashing energy is directed towards Alephium.
Alephium is a layer one (L1) blockchain that introduces a definite consensus mechanism often known as proof-of-less-work (PoLW), an adaptation of the normal PoW mannequin. On Feb. 20, 2024, Alephium’s hashrate was cruising at 500.8 terahash per second (TH/s), however immediately, it’s racing forward at 2,850 TH/s, which interprets to a strong 2.85 petahash per second (PH/s).
Over the previous 12 months, ALPH has risen by 586% in opposition to the U.S. greenback, hitting an all-time excessive (ATH) of $3.86 on Feb. 27, 2024. Presently, on Aug. 21, ALPH is buying and selling round 59% beneath that peak, sitting at $1.53 per coin. Bitmain is about to roll out the AL1 Professional miner in Sept., boasting a hashpower of 16.6 TH/s, which interprets to a possible $327 in each day earnings. Though this powerhouse has but to hit the cabinets, the preliminary AL1 sequence mannequin is priced at $41,800 per unit.
Subsequent up in profitability is Bitmain’s KS5 Professional, which churns out round 21 TH/s of Kheavyhash hashpower. As of Aug. 20, knowledge reveals that this Kaspa community miner can generate roughly $26.48 per day, assuming electrical energy prices of $0.04 per kWh. Kaspa, a PoW coin, makes use of the Ghostdag protocol. In contrast to standard blockchains, Ghostdag permits parallel block creation to coexist moderately than being discarded, aligning them in consensus.
Kaspa’s hashrate has additionally reached an all-time excessive, at present hovering round 824 PH/s—considerably outpacing Alephium’s. Over the previous 12 months, KAS, the native token of the Kaspa blockchain, has climbed 283%. Alongside the Antminer Professional, the unique KS5 mannequin nonetheless pulls in about $25 each day, in keeping with the most recent metrics. Following the AL1s and KS5s, Bitmain’s Antminer L9 Scrypt miner stays extra worthwhile than the main BTC miners immediately.
The L9 pulls in round $15.96 per day, whereas the Whatsminer M63S brings in $9.08. L9 models provide the pliability to mine both DOGE or LTC, primarily based on person selection. Because the crypto mining world quickly shifts, the search for profitability heats up, with miners embracing recent applied sciences and networks. Whereas most main miners haven’t formally introduced ventures into different cash, publicly traded bitcoin miner MARA disclosed it was mining KAS. In immediately’s BTC mining panorama, it’s extremely possible others are additionally exploring different cash.
