The post 10 Most Profitable Crypto to Mine in 2024 appeared on BitcoinEthereumNews.com.

Cryptocurrency mining in 2024 is not as profitable as it once was. The profit margins have become tighter, and if you don’t have access to cheap electricity, you can’t really warrant an investment in expensive mining equipment. In addition, cryptocurrency prices are quite high at the time of this writing, which means that if we see a small dip in market valuations, even the most powerful ASIC miners could struggle to turn a profit. That said, there are quite a few cryptos relying on the Proof-of-Work (PoW) consensus algorithm that are profitable for miners who have access to the right equipment and low electricity costs. In this article, we are going to examine the best cryptos to mine in 2024 and look into how their respective profit potential. Methodology Before we get started, let’s first establish what parameters we used for our report. The cost of electricity used for this report was set to $0.10 per kilowatt-hour (kWh), and price data for cryptocurrencies was collected on July 3, 2024. The revenue margins were collected from WhatToMine, a leading website tracking the profitability and costs associated with crypto mining rigs. Finally, mining machines used for comparison were picked based on their profitability, meaning that we prioritized the most profitable miners for each different mining algorithm, kHeavyHash to Ethash.   Algorithm Daily Mining Profit Miner Used Cost of Miner Days to Profitability* Kaspa (KAS) kHeavyHash $76.99 Bitmain Antminer KS5 Pro $10,500 136 Dogecoin (DOGE) Scrypt $17.72 Bitmain Antminer L9 $6,629 374 Bitcoin (BTC) SHA-256 $2.89 Bitmain Antminer S21 Hydro $5,599 1937 Peercoin (PPC) SHA-256 $2.68 Bitmain Antminer S21 Hydro $5,599 2089 eCash (XEC) SHA-256 $2.52 Bitmain Antminer S21 Hydro $5,599 2222 Monero (XMR) RandomX $2.49 Bitmain Antminer X5 $2,860 1149 Horizen (ZEN) Equihash $2.03 Bitmain Antminer Z15 Pro $2,000 985 Zcash (ZEC)…

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Filed under: News - @ July 3, 2024 1:18 pm