The first phase of Ethereum’s merger milestone (The Merge) “Bellatrix Upgrade” has been launched on the 6th, and the official merger of Ethereum is expected to take place on September 15th. As the Ethereum PoW mechanism is about to enter the final stage, miners are also with this massive transfer, Ethereum Classic (ETC) became one of the biggest beneficiaries.
According to 2miners data, the computing power of the entire ETC network reached 52.00TH/s at 3:50 pm today, setting a record high again, and slightly dropped to 51.25TH/s before the deadline. In the past month, the computing power of the entire ETC network has reached 52.00TH/s. grew by more than 65%.
After Ethereum switched to the PoS mechanism, the projects still using the PoW mechanism were ranked by market value, and there were still ETC, LTC, BCH, BSV, DASH, BTG, RVN, etc. After the ETHPoW mechanism ended, there were no useless mining machines and computing machines. It is bound to find a new target, and ETC, which has the deepest history with ETH and is consistent with the algorithm, is undoubtedly one of the best choices.
However, in fact, the mining income of ETC is far less than that of ETH. According to whattomine data, taking a mainstream NVIDIA RTX3070 graphics card as an example, the current average daily ETH mining profit is $0.99, but in comparison, ETC mining the profit is only $0.33, which is only 1/3 of the average daily mining profit of ETH.
3070 graphics card mining ETH, ETC average daily income and profit comparison
In addition, the average daily mining profit of other currencies is also higher than that of ETC. The average daily mining profit of Flux is $0.62, BTG is $0.54, CFX is $0.53, AE is $0.52, BTCZ is $0.52, and SERO is $0.51, ERG is $0.58, AION is $0.41, and RVN is $0.4.
Comparison of the daily average mining profit of various currencies
The mining KOL “RedPandaMining” with 225,000 followers pointed out on Youtube that the current average daily mining reward for ETH is 24 million US dollars, and the highest average daily mining reward for other currencies is NEOX’s 1.12 million US dollars, while ETC is only $660,000, $147,000 for ERGO, $140,000 for RVN, and it remains to be seen which coin will be the biggest winner in the relocation of Ethereum miners in the future.
Post time: Sep-15-2022