Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is a public blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
Ethereum also provides a cryptocurrency token called “Ether”, which can be transferred between accounts and used to compensate participant nodes for computations performed. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
The native cryptocurrency of the Ethereum network is called Ether (ETH). ETH is mined by individuals all around the world and is also bought and sold on exchanges.
NOTE: WARNING: Mining Ethereum with an Antminer can be extremely risky and should only be attempted by experienced cryptocurrency miners. Ethereum mining is a highly competitive process and the rewards for successful mining are uncertain, as the price of Ethereum can fluctuate quickly and unpredictably. Additionally, the amount of Ethereum that an Antminer can mine can vary significantly depending on factors such as the type of Antminer being used, the difficulty level of the network, and the current market rate. Therefore, it is important to thoroughly research any potential investment before committing to a purchase.
The Antminer E3 is currently the most popular ASIC miner for mining ETH.
The Antminer E3 produces a maximum hashrate of 180 MH/s with a power consumption of 800 Watts. Assuming that you have an electricity cost of $0.12 per kWh, your cost per month to operate the Antminer E3 would be about $96. Your return on investment (ROI) would be about 4 months, assuming that the price of ETH does not change and that you do not have any other expenses related to mining (e.g.
, internet, cooling, etc.).
If you are interested in mining ETH with the Antminer E3, you can expect to mine about 0.05 ETH per day or 1.
5 ETH per month. However, these numbers are only estimates based on the current difficulty and price of ETH; they could potentially change in the future.
7 Related Question Answers Found
Yes, You can use an Antminer to mine Ethereum. Here’s how:
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 run these applications, the Ethereum network needs to be running.
What is an Antminer? An Antminer is a machine that is used to mine cryptocurrency. Cryptocurrency is a digital or virtual currency that uses cryptography for security.
The bitcoin mining process is a very energy-intensive one. This is because the search for new blocks is a computationally-intensive process that requires a lot of power. The Antminer, developed by Bitmain, is a specialized piece of hardware designed specifically for mining bitcoin.
Yes, Antminer can be used for Ethereum mining. However, it is important to keep in mind that Antminer is a ASIC miner, which means that it is specifically designed for Bitcoin mining. While it is possible to use Antminer for Ethereum mining, it is not as efficient as using a GPU miner.
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 the Ethereum protocol and blockchain there is a price for each operation. The general ledger is a decentralised database that stores all the information and transactions of the network.
Yes, the Antminer can mine Ethereum. However, whether or not it is profitable to do so depends on a number of factors. The biggest factor is the price of Ethereum.
Ethereum uses a Proof of Work (PoW) consensus algorithm to validate transactions and produce new blocks on the blockchain. However, Ethereum is moving to a Proof of Stake (PoS) consensus algorithm. PoS is more energy efficient than PoW and is expected to lead to faster transaction times.
