WTF is up with the sudden eth mining profitability spike?

Up until about 2 days ago i was consistently mining about 1.80 a day in Eth. Over the past couple days its been skyrocketing though. Currently 3.70 per day. Hashrate has been a consistent 53mhs.

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How the hell do you get 1.3 a day at 54mhs? I’m running 82mhs and will be lucky to get 0.2 in a month

I think he means $, not actual coin amount.

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Those earnings and hashrate are similar to mine which also suddenly earn twice what I used to earn.
The difficulty must have changed, but I don’t see it from the pool. I’ll bet a graph of the difficulty would show it.

I am currently running one GPU on ETH at a hashrate of 34Mh/s, earning about 2.40/day. Used to earn half that at the same hashrate.

Basically, I agree with your findings

I was coming into the forum to ask the same thing. My total ETH collected has doubled since yesterday. I was projected to get 0.07 ETH/day with just over 1 GH/S hashrate, today ethermine pool is estimating 0.154, and whattomine is backing up those numbers. Transaction fees look to be at an all time high also.

Check, its not just the profit, you are getting twice the ETH right?

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@John_Grimes @VoskCoin

It breaks down to block rewards IMO. Check out 2MINERS.COM SOLO ETH. Block rewards on standard pools are the same. THANK YOU DeFi and ethereum not knowing or taking care of squat to make something like this not happen. GAS = ETH TO THE MOON.

The more the block reward, the more you earn. We have been seeing huge spikes in people mining to NH as well. ETH GAS WILL TAKE ETH TO THE MOON! We have been watching these block rewards rocket over the standard 2.0 which you should earn per block found. These have been rocketing the last week and so and have been getting better and better.

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moaaaar feeeeess!!! nomnomnomnom

Official statement from Mining Pool Hub "ETH mining reward is now bigger than block reward due to high transaction fee these days. ETH pool’s withdrawal fee will vary dynamically according to network status "
I had a spike in earnings the last two days as well.

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What’s the best miner for ETH? I’m using Nano pool and don’t see the same results you are all seeing.

@Scoobylaw I found Nanopool simple but the fees were too high for my liking. When I ran my own miner directly to a pool, I settled on Ethermine (https://ethermine.org/) using Claymores Dual Miner. Keep in mind that pools are subject to “luck” and can seem to perform really well over a short period so valid comparisons are only possible over timeframes like a week or more.

Nowadays, I mine using Nicehash on a combination of Windows machines and HiveOS machines with it being pretty much equivalent performance - really comes down to how much hassle you feel it is to manage a rig under Windows versus the simplicity (but complete unfamiliarity for me) of a Linux box.

I have found Nicehash to outperform any pool that I mined to directly (and this is consistently confirmed by the Whattomine website). The big downside (maybe) is that while you mine ETH, you get paid in BTC so if you want to keep the ETH you either have to mine to a pool and get a little less, or exchange it for ETH after you get a BTC payout (and pay the fees of course).

Thanks for the heads up and the explanation.

Will wait for my minimum and switch back to Nicehash. Appreciate the feedback.

Nanopool did far better than Nicehash over the last few days. Normally, Nicehash is a little more profitable but when ETH fees spike, it lags behind. I bounce between them using Phoenix miner for both.

@Badfish Are you talking about Nanominer? Nanopool fees are lower than Nicehash. A few weeks ago I did a 7-day head to head comparison of Nanopool and Ethermine and Ethermine under-performed by over 13% (8 5700s vs 8 5700s). I think the main reason is I was able to maintain higher poolside hashrate on Nanopool possibly due to higher difficulty shares. Before that, I put Nanopool up against F2Pool and it outperformed them too.

This is a single, not overclocked or undervolted, Asus RX 5700 XT ROG Strix on BetterHash today…

@bick0012 I can’t argue with your numbers as I did my comparisons more than 3 months ago and the ETH world is different now.

When I mentioned the Nanopool fees I was comparing them to Ethermine. I know that Nanopool fees are lower than Nicehash but Nicehash still consistently outperforms Nanopool for profitability.

And yeah I still find that Phoenix is better on the 5700s but Claymores is better on the 570s, so I’ve reorganised my rigs and no longer mix them as I was always taking a hit on hash rate when I did.

I’m back on Nicehash already. It is definitely more profitable except for special occasions.

OK, so now I’m confused… Nicehash, Ethermine or Nanopool. Eish.

I read there is a guy making like over $150 a day mining with one miner that he built(don’t know if its asic or not with these new very expansive cards out),he may have made a few and that could be why they raise the difficulty.

Hi guys,
I am pretty new to mining and to the channel as well. Do you guys think it is possible to mine ETH using a RX 570 ? . Else what would be a better GPU to start ETH mining ?

@JOSEPH_BIJU Absolutely, in fact I reckon they are the second best GPU mining card you can get when measured on cost versus performance basis. The only better card is the RX5700 (non-XT as I don’t think there is much value in paying the extra for the XT version).

I run three rigs two with 6 x RX570 and one with 6 x RX5700. They are the most profitable GPU mining setup you can get for the simple reason that ETH is by far the most profitable coin to GPU mine and RX570/5700 are by far the best GPUs to mine ETH.

There are a bunch of threads on here from the past 3-4 months where people talk about how to set up a rig, what sort of tweaking you might achieve (including examples of settings and the different ways you can tweak) and some of the options for where to mine.

Have a browse (use the search function for “new build” or “RX570” etc) and ask questions on those threads. You will find lots of helpful people.

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