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Assets, Ethereum

Can I Use a Raspberry Pi to Mine Ethereum?

A Raspberry Pi is a credit card-sized computer that costs around $35. You can use a Raspberry Pi to mine Ethereum.

To do this, you need to set up a Raspberry Pi with the right software and connect it to an Ethereum mining pool. Then, you can start mining Ethereum.

However, there are a few things to consider before you start mining Ethereum with a Raspberry Pi.

NOTE: WARNING: Mining Ethereum with a Raspberry Pi is not recommended. Due to the Raspberry Pi’s low processing power and power consumption, it is not suitable for mining cryptocurrency. Furthermore, using the device in this way will lead to excessive wear and tear on the device, leading to a significantly decreased lifespan. Additionally, mining cryptocurrency with a Raspberry Pi may be in violation of some countries’ laws and regulations. Therefore it is best to avoid using your Raspberry Pi for mining Ethereum.

First, the amount of money you can make from mining Ethereum will probably be quite small. Second, mining Ethereum will use up a lot of electricity, which will likely increase your power bill.

Third, you need to have a good internet connection to mine Ethereum successfully. And fourth, it might be difficult to set up everything correctly if you’re not familiar with Linux or computers in general.

Despite these considerations, it is possible to mine Ethereum with a Raspberry Pi. If you’re interested in doing so, we recommend that you do some research and then give it a try.

1 Related Question Answer Found

Can a Raspberry Pi Mining Ethereum?

A Raspberry Pi is a credit card-sized computer that can be used for a variety of purposes. One of those is mining Ethereum. Mining is how new Ethereum tokens are created.
Assets, Bitcoin

How Much Does It Cost to Build a Computer to Mine Bitcoin?

Bitcoin mining is not a cheap endeavor. The hardware and electricity costs can be significant. But just how much does it cost to build a computer to mine Bitcoin?

Building a basic mining rig can cost as little as $1,000. But if you want to mine enough Bitcoin to see a return on your investment, you’ll need to spend closer to $10,000.

Of course, the cost of mining Bitcoin can fluctuate. If the price of Bitcoin goes up, then more people are likely to invest in mining rigs.

NOTE: WARNING: Building a computer to mine bitcoin can be expensive and may not be suitable for all users. Before building a computer, please consider the cost of the parts, as well as any additional costs associated with installation and maintenance. Additionally, please research the legal implications of bitcoin mining before undertaking any activities related to it.

This can drive up the cost of hardware and electricity.

But even if the price of Bitcoin falls, the cost of mining can still be significant. This is because miners need to keep their rigs running 24/7 in order to have a chance at winning the mining lottery.

So, how much does it cost to build a computer to mine Bitcoin? It depends on a number of factors, but you can expect to spend at least $1,000 if you want to see any return on your investment.

10 Related Question Answers Found

How Much Does It Cost to Mine a Bitcoin?

The cost of mining a Bitcoin varies depending on the type of equipment used and the amount of electricity required. For example, an Antminer S9 ASIC miner requires about 1,400 watts of power and costs around $1,000. A BitFury BF8162C16 ASIC miner requires about 2,400 watts of power and costs around $3,600.

What Equipment Is Needed to Mine Bitcoin?

Bitcoin mining is the process of creating new bitcoins by solving a computational puzzle. Bitcoin mining is necessary to maintain the ledger of transactions upon which bitcoin is based. Miners are rewarded with newly created bitcoins and transaction fees.

How Long Does It Take a Computer to Mine 1 Bitcoin?

It takes about 10 minutes for a computer to mine 1 Bitcoin. The time it takes to mine a Bitcoin depends on the processing power of the computer. A computer with a faster processor can mine a Bitcoin in less time than a computer with a slower processor.

How Powerful of a Computer Do I Need to Mine Bitcoin?

Cryptocurrency mining is big business these days, with people able to make a tidy profit by dedicating their computers to the task. But what kind of computer do you need to mine Bitcoin, and is it worth the investment? In order to mine Bitcoin, you’ll need a few things: a powerful graphics card, a good power supply, a decent amount of RAM, and most importantly, a strong CPU.

What Is Needed to Mine Bitcoin?

Mining Bitcoin is the process of verifying and adding transactions to the public ledger, known as the blockchain. Bitcoin miners help keep the network secure by approving transactions. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a “subsidy” of newly created coins.

How Much Does It Cost to Mine 1 Bitcoin a Day?

As of July 2019, it costs about $3,000 to mine one Bitcoin. This number was calculated using data from CoinDesk’s Bitcoin Price Index and reported by Bloomberg. The price of Bitcoin has been volatile, so the cost of mining one Bitcoin has fluctuated as well. .

What Kind of Computer Do You Need for Bitcoin Mining?

Bitcoin mining is a process of verifying and adding transaction records to the public ledger called the blockchain. Bitcoin miners are people who own computers that constantly verify and add these records. In return for their time and processing power, they are rewarded with newly minted bitcoins.

What Kind of Computer Do I Need for Bitcoin Mining?

Bitcoin mining is a process that helps secure the Bitcoin network and verify new Bitcoin transactions. Individuals and companies can participate in bitcoin mining and receive rewards for their work in the form of newly minted bitcoins. To be a successful bitcoin miner, you need to have the right kind of computer hardware.

What Equipment Do I Need to Mine Bitcoin?

When it comes to mining Bitcoin, there is no one-size-fits-all answer. The best way to determine what equipment you need to mine Bitcoin is to consult with an expert. However, there are some key factors that you should keep in mind when making your decision.

How Much Does It Cost to Mine 1 Bitcoin?

It costs around $4,000 to mine one Bitcoin. This number was calculated using data from a variety of sources, including the electricity cost of $0. 05 per kWh, the hardware cost of a Bitcoin miner such as the Bitmain Antminer S9j, and the pool fee of 2.5%. The biggest factor in the cost of mining a Bitcoin is the price of electricity.
Assets, Ethereum

Can I Use PS4 to Mine Ethereum?

As the world’s first and most popular cryptocurrency, Bitcoin has had a dominating presence in the market since its inception. However, Ethereum has been steadily rising in popularity and recent years, and is now considered to be one of the most promising altcoins. So, can you mine Ethereum on PS4?

The short answer is no, you cannot mine Ethereum on PS4. The reason for this is that mining requires a lot of computational power, and a PlayStation 4 just doesn’t have the necessary hardware.

In order to mine Ethereum, you would need a dedicated mining rig with multiple high-end graphics cards.

However, all is not lost! Although you can’t mine Ethereum directly on your PS4, there are still a few ways that you can indirectly participate in Ethereum mining. For example, you could purchase a cloud mining contract from a reputable provider.

NOTE: Warning: Using a PS4 to mine Ethereum is highly discouraged and not recommended. This is because a PS4 does not have the required processing power or resources to effectively and efficiently mine Ethereum. Furthermore, attempting to mine Ethereum on a PS4 could result in various issues including overheating and hardware damage.

This would allow you to rent hashing power from a professional miner, and then receive payouts in Ethereum.

Another option would be to join a mining pool. This involves working together with other miners to pool your resources and then sharing any rewards that are generated.

While you won’t be able to mine Ethereum directly on your PS4 using this method, you could still potentially earn some rewards if the pool is successful.

So there you have it! Although it’s not possible to mine Ethereum directly on your PS4, there are still a few indirect methods that you can use to earn rewards.

5 Related Question Answers Found

Can a 4gb Gpu Mine Ethereum?

As cryptocurrency prices continue to rise, more and more people are looking for ways to cash in on the craze. One way to do this is through mining, which allows users to validate transactions and earn rewards in the form of new coins. Ethereum is one of the most popular cryptocurrencies, and it can be mined using a regular computer with a graphics card.

How Do You Mine Ethereum With a 4GB GPU?

Cryptocurrency mining is a process by which new coins are introduced into the existing circulating supply, as well as a process used to secure the network the coin operates on. Miners are rewarded for their efforts with a portion of the newly minted coin. The process of mining Ethereum is similar to that of Bitcoin, and uses what is known as an ethash algorithm.

Can U Mine Ethereum With RX 580 4GB?

Yes, you can mine Ethereum with an RX 580 4GB, but it’s not going to be profitable. The RX 580 4GB is a very popular graphics card for mining, but it’s now starting to show its age. It’s still a good card for mining, but there are better options out there.

Can You Mine Ethereum on a Raspberry Pi 4?

Yes, You Can Mine Ethereum on a Raspberry Pi 4 If you’re looking for a low cost way to get started in mining Ethereum, then the Raspberry Pi 4 is a great choice. This credit card sized computer is incredibly powerful for its size and can be used to mine Ethereum effectively. The Raspberry Pi 4 is powered by a Quad-core Cortex-A72 CPU running at 1.5GHz and comes with 4GB of RAM.

Can You Mine Ethereum With 4GB GPU?

You may have seen that Ethereum mining with 4GB GPUs is possible, but is it really worth it? Let’s take a look at the pros and cons of mining Ethereum with 4GB GPUs. PROS: – 4GB GPUs can mine Ethereum without any issues. – 4GB GPUs are affordable and easy to find. – 4GB GPUs offer good performance when mining Ethereum.
Assets, Bitcoin

How Much Does a Real Bitcoin Cost?

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining.

They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

NOTE: WARNING: Investing in Bitcoin or any other cryptocurrency is highly speculative and has a high degree of risk. You should always research the investment thoroughly before making any decisions. There are numerous factors that can affect the price of Bitcoin, including market volatility, government regulations, and global economic conditions. Be sure to consult a financial advisor before making any investments.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

So how much does a real Bitcoin cost?

The answer isn’t straightforward, because there isn’t a single price for a Bitcoin – it depends on where you’re buying it and how you intend to use it. For example, if you want to buy Bitcoin to use as an investment or to purchase goods and services, you’ll likely pay more than if you just want to buy Bitcoin to trade on an exchange.

The bottom line is that the real cost of a Bitcoin depends on your individual circumstances.

1 Related Question Answer Found

How Much Money Is Bitcoin Total?

Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. The presumed pseudonymous Satoshi Nakamoto integrated many existing ideas from the cypherpunk community when creating bitcoin. Over the course of bitcoin’s history, it has undergone rapid growth to become a significant currency both on- and offline.
Assets, Ethereum

Can I Use NiceHash for Ethereum?

Yes, you can use NiceHash for Ethereum. However, there are a few things to keep in mind.

First, NiceHash only supports a limited number of algorithms for Ethereum. As of this writing, the only algorithms supported are DaggerHashimoto and Ethash.

NOTE: WARNING: NiceHash is a cryptocurrency mining marketplace. It is not an exchange or a wallet and therefore cannot be used for Ethereum transactions. You will need to use an Ethereum wallet to hold your Ethereum and an exchange such as Coinbase to buy and sell Ethereum. Additionally, NiceHash does not support the mining of Ethereum, so you will need to use a different platform for that activity.

This means that you will not be able to mine other popular Ethereum algorithms such asClaymore’s Dual Ethereum GPU Miner.

Second, NiceHash charges a 3% fee for all profits earned. This is in addition to any fees charged by your chosen pool.

Finally, while NiceHash is a convenient way to get started mining Ethereum, it is not the most efficient option. For optimal results, you should use dedicated mining software and hardware.

4 Related Question Answers Found

Is There a NiceHash for Ethereum?

There is no official Ethereum NiceHash. However, there are a few third-party options that enable you to rent out your hashrate to others and receive payments in Ethereum. This can be a great way to earn some extra income with your mining rig, and it can also help to support the Ethereum network by providing additional hash power.

Is Ethereum Better Than NiceHash?

There is no simple answer to this question. It depends on a number of factors, including your needs and preferences. If you’re looking for a reliable, easy-to-use platform with a wide range of features and options, Ethereum may be a better choice.

Can NiceHash Mine Ethereum?

Yes, you can use NiceHash to mine Ethereum. However, whether or not it is profitable to do so depends on a number of factors, including the current price of Ethereum, the difficulty of mining, and the efficiency of your mining rig. Generally speaking, mining ETH with NiceHash is only profitable if ETH prices are high.

Can I Buy Ethereum in My Roth IRA?

Yes, you can buy Ethereum in your Roth IRA. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ether, the native currency of Ethereum, is mined through a Proof of Work consensus algorithm.
Assets, Ethereum

Can I Use Electrum for Ethereum?

Yes, you can use Electrum for Ethereum. However, there are a few things to keep in mind.

First, while Electrum can be used for Ethereum wallets, it is not an official Ethereum wallet. This means that it is not as secure as an official Ethereum wallet.

Second, you will need to use a separate software application to access your Ethereum coins. This is because Electrum does not support the Ethereum blockchain.

NOTE: WARNING: Electrum is not designed to be used for Ethereum. It is a Bitcoin wallet, not an Ethereum wallet. Using Electrum for Ethereum can potentially expose your funds to significant risks, such as the lack of security, lack of customer support, and the possibility of malicious or unintended transactions. You should only use a wallet specifically designed for Ethereum if you intend to store and use ETH.

Third, you will need to use a third-party service to convert your ETH into BTC. This is because Electrum does not have built-in support for ETH.

Fourth, while you can use Electrum for Ethereum, it is not recommended for long-term storage of ETH. This is because Electrum is a hot wallet and is therefore more susceptible to hacks and security breaches.

Overall, while you can use Electrum for Ethereum, there are some things to keep in mind. It is not as secure as an official Ethereum wallet and you will need to use a third-party service to convert your ETH into BTC.

Additionally, it is not recommended for long-term storage of ETH due to its hot wallet status.

9 Related Question Answers Found

Can Electrum Hold Ethereum?

When it comes to cryptocurrency, there are a lot of different options to choose from. Bitcoin, Litecoin, Ethereum, and Zcash are just a few of the most popular ones. But what about Electrum?

Can I Use AWS to Mine Ethereum?

Yes, you can use AWS to mine Ethereum. But, it is not recommended as the most profitable option. The main reasons are the high cost of AWS instances and the lack of availability of GPUs in some regions.

Can We Mine Ethereum Using AWS?

Yes, you can mine Ethereum using AWS. However, there are a few things to keep in mind. First, you’ll need to choose the right instance type.

Can I Use My Computer to Mine Ethereum?

You can use your computer to mine Ethereum, but there are a few things to keep in mind. First, you’ll need to have a powerful computer with a good graphics card. Ethereum mining is a resource-intensive process, so you’ll need a computer that can handle the demands.

Can I Use ASIC to Mine Ethereum?

ASICs, or application-specific integrated circuits, are hardware designed to do a specific task. In the case of Bitcoin, ASICs are designed to process SHA-256 hashing problems to mine new bitcoins. Ethereum, on the other hand, is designed to be mined with GPUs.

Can You Use AWS to Mine Ethereum?

Yes, you can use AWS to mine Ethereum. AWS provides high-performance computing power that can be used to mine cryptocurrency. However, there are a few things to keep in mind when using AWS for mining.

Can I Use My Old Laptop to Mine Ethereum?

As the second-largest cryptocurrency by market capitalization, Ethereum has garnered a lot of attention from investors and crypto-enthusiasts alike. And, as with any burgeoning asset class, there are always those looking to cash in on the latest trends – including mining Ethereum. But can you mine Ethereum on an old laptop?

Can We Mine Ethereum on AWS?

The Ethereum network is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.

Can I Mine Ethereum on AWS?

Yes, you can mine Ethereum on AWS. However, there are a few things to keep in mind. First, you’ll need to have a strong understanding of how mining works.
Assets, Bitcoin

How Much Does a Bitcoin Miner Mine a Day?

Assuming that the average American household consumes 901 kWh per month, and the average residential electricity rate is 12.19 cents per kWh, a Bitcoin miner would use about 111.8 kWh of electricity per day (901 kWh / 30 days = 30 kWh/day). At a rate of 12.

19 cents per kWh, this would cost the miner about $13.51 per day in electricity costs.

Based on the current difficulty level of mining, and the current price of Bitcoin, a miner can expect to earn about 0.0006 BTC per day (about $4.18 at current prices).

NOTE: WARNING: Bitcoin mining is a highly technical and complex process. It requires a significant amount of computing power and sophisticated software to successfully mine Bitcoin. There is no definitive answer as to how much a Bitcoin miner can mine in one day as this depends on many factors such as difficulty, hash rate, and the type of mining equipment being used. Before attempting to mine Bitcoin, it is important to research and understand the risks associated with this activity.

So, in conclusion, a Bitcoin miner can expect to earn about $4.18 worth of Bitcoin each day, after accounting for electricity costs.

2 Related Question Answers Found

How Much Money Do Bitcoin Miners Make?

In 2009, Satoshi Nakamoto launched bitcoin, the world’s first cryptocurrency, as a way to avoid the high fees and slow processing times of traditional banking. Since then, bitcoin has become widely adopted with a market cap of over $200 billion. One of the main attractions of bitcoin is that there is no central authority controlling it.

How Much Do Bitcoin Miners Get Paid?

Bitcoin miners are paid according to their share of work done, rather than their share of the total number of blocks mined. The system is designed so that each block contains a certain amount of “work”, and miners are rewarded according to the amount of work they contributed to solving that block. For example, if a miner contributed 1% of the total work done on a block, they would receive 1% of the total reward for that block.
Assets, Ethereum

Can I Use Coinbase to Mine Ethereum?

Yes, you can use Coinbase to mine Ethereum. However, it is important to note that mining Ethereum is a complicated process and requires a lot of time, effort, and money. There are a few different ways to mine Ethereum, but the most common method is through the use of a mining pool. A mining pool is a group of miners who work together to mine Ethereum and share the rewards.

NOTE: Using Coinbase to mine Ethereum is highly discouraged and can be dangerous. Coinbase is a cryptocurrency exchange service, not an Ethereum mining service. The system was not built to support Ethereum mining, and it could potentially lead to problems with your account or even the termination of your account. Additionally, it may result in losses of funds due to technical issues that arise from attempting to mine Ethereum through Coinbase. It is strongly advised that you use a reputable mining service instead of relying on Coinbase for this purpose.

Coinbase allows users to connect to a mining pool and start mining Ethereum. However, Coinbase does not offer any support for miners and does not offer any tools or resources that would help miners. Therefore, it is important to do your own research before you start mining Ethereum on Coinbase.

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Can I Buy Ethereum on Coinbase?

Yes, you can buy Ethereum on Coinbase. Coinbase is one of the most popular cryptocurrency exchanges, and it offers a variety of features that make it a great choice for buying Ethereum. For one, Coinbase supports a wide range of payment methods, including credit and debit cards, bank transfers, and PayPal.

Can I Buy Ethereum With a Credit Card on Coinbase?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. In order to buy Ethereum on Coinbase, you will need to first set up an account with Coinbase. Once your account is created, you will need to add a payment method.

Can You Transfer Ethereum From Coinbase?

If you’re looking to move your Ethereum off of Coinbase, you’re in luck. Unlike some other exchanges, Coinbase allows its users to both send and receive Ethereum. In this article, we’ll show you how to transfer Ethereum from Coinbase step-by-step.

Can You Buy Ethereum Classic on Coinbase?

The short answer is no. You cannot buy Ethereum Classic on Coinbase. Coinbase does not support Ethereum Classic.
Assets, Bitcoin

How Much Does a Bitcoin Miner Make a Year?

A Bitcoin miner is someone who uses their computer to confirm Bitcoin transactions by including them in a block. A single block can contain up to 1MB of data, and miners are paid a certain amount of Bitcoin for each block they confirm.

The current reward for each block is 12.5 BTC, which means that a Bitcoin miner can earn up to $156,250 per year if they are able to confirm one block per day.

However, the reality is that most miners are not able to confirm one block per day, and the average miner only earns a fraction of the total reward. This is because there are a lot of other miners who are also competing for the same blocks.

NOTE: Warning: The amount of money a Bitcoin Miner can make in a year is highly variable and depends on many factors, including the cost of electricity, the price of Bitcoin, and the miner’s access to specialized mining equipment. Therefore, it is not possible to give an accurate estimate or guarantee of how much a Bitcoin Miner will make in a year. Additionally, it is important to note that mining for Bitcoin is a highly competitive and potentially risky endeavor. Prospective miners should research all aspects of cryptocurrency mining before investing any money or time.

The more miners there are, the harder it becomes to find a block, and the smaller the rewards become.

Even though the rewards for mining can be small, it can still be a lucrative business if done correctly. For example, if a miner is able to reduce their costs by using cheaper energy sources or by using more efficient mining hardware, then they will be able to increase their profits significantly.

In conclusion, we can see that there is a lot of money to be made in the world of Bitcoin mining. However, it is important to remember that it is a very competitive business and not everyone will be able to make a profit.

10 Related Question Answers Found

How Much Does a Bitcoin Miner Make?

A Bitcoin miner is a computer that creates new Bitcoin by solving complex mathematical problems. Miners are rewarded with Bitcoin for their efforts. Currently, a single Bitcoin miner can earn up to $12,000 per day.

How Much Does a Bitcoin Miner Make Per Day?

As of May 2020, the average bitcoin miner make $0.33 per day in profit. This is based on data from the Bitcoin Mining Profit Calculator, which takes into account electricity costs, mining pool fees, and hardware expenses. Bitcoin miners are rewarded for their work with newly minted bitcoins and transaction fees.

How Much Can a Bitcoin Miner Make?

A Bitcoin miner can make a lot of money. In fact, if they are willing to put in the work, they can make a very good living. There are a few things that will affect how much money a Bitcoin miner can make, though.

How Much Do Bitcoin Miners Make?

As of May 2020, the average bitcoin miner make $84,000 per year. However, this number is highly variable and is dependent on a number of factors, including the cost of electricity, the cost of mining equipment, and the value of bitcoin. The value of bitcoin has seen a lot of volatility in recent years.

How Much Do Bitcoin Miners Get Paid?

Bitcoin miners are paid according to their share of work done, rather than their share of the total number of blocks mined. The system is designed so that each block contains a certain amount of “work”, and miners are rewarded according to the amount of work they contributed to solving that block. For example, if a miner contributed 1% of the total work done on a block, they would receive 1% of the total reward for that block.

How Much Can a Bitcoin Miner Make in a Day?

A bitcoin miner can make a significant amount of money in a day. The specific amount depends on several factors, including the current value of bitcoin, the difficulty of the mining process, and the efficiency of the miner. Assuming all factors remain constant, a miner could potentially earn a profit of around $100 per day.

How Much Profit Do Bitcoin Miners Make?

As the Bitcoin network grows, so does the number of miners who are competing to mine Bitcoin. The more miners there are, the more difficult it becomes to mine Bitcoin. This is because the network is designed so that there will only ever be 21 million Bitcoin in existence.

How Much Does a Bitcoin Mining Rig Make a Day?

As of May 2020, the average daily revenue from Bitcoin mining is $144.81. This is based on data from CoinMetrics, which shows that the average Bitcoin miner makes $144.81 per day after accounting for hardware, electricity, and other operating expenses. This means that if you own a Bitcoin mining rig, you can expect to make around $144.81 per day in revenue.

How Much Money Do Bitcoin Miners Make?

In 2009, Satoshi Nakamoto launched bitcoin, the world’s first cryptocurrency, as a way to avoid the high fees and slow processing times of traditional banking. Since then, bitcoin has become widely adopted with a market cap of over $200 billion. One of the main attractions of bitcoin is that there is no central authority controlling it.

How Much Does a Bitcoin Miner Mine a Day?

Assuming that the average American household consumes 901 kWh per month, and the average residential electricity rate is 12.19 cents per kWh, a Bitcoin miner would use about 111.8 kWh of electricity per day (901 kWh / 30 days = 30 kWh/day). At a rate of 12. 19 cents per kWh, this would cost the miner about $13.51 per day in electricity costs. Based on the current difficulty level of mining, and the current price of Bitcoin, a miner can expect to earn about 0.0006 BTC per day (about $4.18 at current prices).
Assets, Ethereum

Can I Use ASIC to Mine Ethereum?

ASICs, or application-specific integrated circuits, are hardware designed to do a specific task. In the case of Bitcoin, ASICs are designed to process SHA-256 hashing problems to mine new bitcoins. Ethereum, on the other hand, is designed to be mined with GPUs.

That’s because Ethereum’s mining algorithm, Ethash, is different from Bitcoin’s. Ethash is designed to be ASIC-resistant so that anyone with a GPU can mine it.

The main reason why ASICs can’t be used to mine Ethereum is that Ethash uses a different hashing algorithm than Bitcoin. Ethash is an “memory-hard” algorithm which means that it requires more memory to run than Bitcoin’s SHA-256 algorithm.

This makes it ASIC-resistant because ASICs are designed to be efficient at a specific task and don’t have the flexibility to switch tasks.

NOTE: WARNING: Using an ASIC (Application-Specific Integrated Circuit) to mine Ethereum can be extremely unprofitable, as ASICs are not designed for Ethereum mining. Ethereum is designed to be ASIC-resistant and using an ASIC to mine it will result in a significantly lower hash rate and is unlikely to be profitable. Furthermore, there may also be a risk of damaging the ASIC due to the high temperatures that are generated while mining Ethereum.

However, there have been some attempts to create an Ethereum ASIC. In 2018, Bitmain released the Antminer E3 which was designed for mining Ethereum.

But because Ethereum’s difficulty was too low at the time, it was not profitable to mine Ethereum with the Antminer E3. Bitmain has since discontinued the Antminer E3 and there are no other known Ethereum ASICs in development.

So while it is technically possible to create an ASIC for Ethereum, it is not currently profitable to do so. And even if an ASIC were developed, it would be quickly made obsolete by a change in Ethereum’s mining algorithm which has happened multiple times in the past.

For now, GPU mining is the best way to mine Ethereum and other memory-hard cryptocurrencies.

1 Related Question Answer Found

Can Ethereum Be Mined With ASIC?

The cryptocurrency market is highly volatile and unpredictable. This is especially true when it comes to Ethereum, the second largest cryptocurrency by market capitalization. In the past year, Ethereum has seen incredible price swings, rising from less than $100 in early 2017 to over $1,000 in January 2018.