Crypto Mining Landscape: SHA256 Surges to Third Most Profitable Algorithm
From September 2022 to January 2024, the landscape of crypto mining profitability has witnessed significant shifts.
Bitcoin’s SHA256 algorithm, which ranked seventh for mining profitability in September 2022, has now surged to become the third most profitable crypto network for mining operations. Kaspa (KAS), utilizing the Kheavyhash algorithm, currently holds the top spot, yielding approximately $69 per day with 9.2 terahash per second (TH/s) of hashpower.
Grin (GRIN) has seen a recent surge in values, elevating the Cuckatoo32 algorithm’s profitability, surpassing Bitcoin’s SHA256. Ethash, Blake2B-Sia, X11, and Kadena follow in the profitability ranking, each linked to specific mineable cryptocurrencies. Notably, Scrypt mining, which once held a dominant position, has dropped to the 12th most profitable algorithm. The evolving landscape reflects dynamic changes in the crypto mining sector, with different algorithms rising and falling in profitability.
Clever Robot News Desk 22nd January 2024
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