Blake3 takes the lead in crypto mining profitability, surpassing Kheavyhash and SHA256 algorithms. Discover which mining algorithms and machines are the most profitable this month.
Bollywoodfever: As the cryptocurrency mining landscape continues to evolve, the Blake3 algorithm has emerged as the most profitable proof-of-work (PoW) mining consensus in October 2024, overtaking previous leaders like Kheavyhash. Alephium (ALPH) miners using Blake3 are now making an estimated $40.53 per day, thanks to advancements in hardware efficiency and favorable market conditions.
Blake3 Tops the Mining Profitability Charts
Ninety-six days ago, Kheavyhash led the PoW mining profitability rankings, with miners of kaspa (KAS) at the forefront. However, data from asicminervalue.com now shows that Blake3 has surged ahead. Blake3 powers mining for cryptocurrencies such as decred (DCR) and alephium (ALPH), with Bitmain’s Antminer AL1 Pro, boasting 16.6 terahash per second (TH/s), bringing in an estimated $40.53 daily, assuming electricity costs of $0.04 per kilowatt-hour (kWh). The Antminer AL1, which delivers 15.6 TH/s, pulls in around $38.07 per day.
Scrypt and Kheavyhash Follow Blake3
Scrypt ranks second in profitability, mining popular assets like dogecoin (DOGE) and litecoin (LTC). Bitmain’s Antminer L9 unit, operating at 17 gigahash per second (GH/s), can earn approximately $18.09 daily, based on current market prices and electricity rates.
Kheavyhash, once the leader, has now dropped to third place. The Antminer KS5 Pro, delivering 21 TH/s, yields around $9.95 per day. This is a considerable drop from its former position, highlighting the ever-changing nature of crypto mining profitability.
SHA256 and Eaglesong Algorithms Round Out the Top Five
In fourth place is the SHA256 algorithm, widely known for powering bitcoin (BTC) and bitcoin cash (BCH) mining. Bitmain’s Antminer S21 XP Hydro, producing 473 TH/s of hashpower, brings in an estimated $6.15 per day. Microbt’s M63S+ with 450 TH/s follows closely, generating around $5.86 daily.
Rounding out the top five is the Eaglesong algorithm, used for mining nervos (CKB). The Antminer K7, offering 63.5 TH/s, earns approximately $3.94 per day in profits.
The Impact of Hardware and Energy Costs
Crypto mining profitability is not only dictated by the consensus algorithm but also by the efficiency of mining hardware and electricity costs. As hardware continues to advance, mining rigs become more energy-efficient, contributing to shifts in the profitability landscape.
With continued innovations in hardware and fluctuations in energy costs, the profitability rankings are likely to keep changing. Miners need to stay on top of the latest trends to maximize their returns.
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