Network Hashrate Hits Record High, How to Maximize Your Bitcoin Mining Profit?

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There’re a lot of news about Bitcoin lately. The tweet entitled Bitcoin Market Value Over 70%. Han Feng: Bitcoin Stable, Optimistic about Industry’s New Trend was issued yesterday in which it claimed “Bitcoin market value returned to over 70%” and there’s another indicator worthy of attention: Bitcoin hashrate hits a record high!

According to the data released by Blockchain.com, Bitcoin hash power exceeded 98.5EH/S on September 11. If you cannot understand the bitcoin hashrate very well, please refer to our tweet How to Understand Bitcoin Hashrate.

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The hashrate get improved which usually indicates that the more miner or new miners have got involved in the mining activity or the miner capability has been greatly improved.

In the article A Brief History of the Cryptocurrency Miners, the EastShore has introduced the evolution history of miners: CPU miner – GPU miner – FPGA miner – ASIC miner.

In the article How to Select Cryptocurrency Mining Pools?, we also know that an individual mining worker needs to join the mining pool for joint work for higher income with shared revenue and shared risks.

Ordinary pool may only mine one type of token, for example, the bitcoin pool will specifically mine the BTC and the Litecoin pool specifically for the LTC.

However, for the sake of maximum revenue, some pools will continuously switch among different tokens to mine the one with highest profit. Such a mining pool is called the “Smart Pool“.

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The benefits of mining are affected by many factors, including the price of Token, the change in the hash power, the difficulty of mining, the time and reword of blocking, etc. The smart pool can monitor the information of a basket of tokens in real time, calculate the relevant mining revenue and determine how much hashrate to be distributed to the token mining.

Of course, the smart pool is not suitable for all token mining. We know that miner are the machines specifically tailored for a certain encryption algorithm and different tokens may adopt different encryption algorithms. For example, the BTC uses the SHA256 algorithm while LTC uses the Scrypt algorithm. The smart pool can only mine the tokens adopting the same algorithm.

So, for individual mining workers, how to maximize their own revenue? Choose the pool to be accessed should be the first step and join in the smart pool may be the second step.

Have you ever participated in mining? What’s your experience? Welcome to share with us.

 

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