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How much money you can make mining cryptocurrency in 2019
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[Image: news-how-much-money-you-can-make-mining-...ybroadband]
Cryptocurrency mining can be a great way to make some money, provided that the price of the coin is high enough to make the enterprise profitable.

At the moment, this is not the case for many coins – including the biggest tokens on the market.

To understand the current issue with cryptocurrency mining, it is important to discern between the different types of mining hardware.

While many people used to mine Ethereum and ZCash for quick profits using graphics card-based miners, application-specific integrated circuit (ASIC) systems have since been developed. These deliver more hashing power while being more cost-efficient.

To determine the potential profitability of mining cryptocurrency in 2019, we therefore compared the projected earnings and payback period of the most efficient ASIC and GPU hardware on the market, using data from CryptoCompare.

ASIC mining

ASIC mining is still going strong in terms of profitability, with the most efficient mining hardware “paying itself back” in less than three months.

Popular cryptocurrencies for ASIC mining include Verge, Dash, and Bitcoin.

It should be noted that while these machines are efficient, they can be expensive to obtain – and it is difficult to find stock of the machines.

There is also the risk that a newly-developed ASIC may be released which makes the expensive machine you purchased redundant in terms of cost-to-hasing power.

The most efficient ASIC machines listed on CryptoCompare, ranked by payback period, are listed below.

[Image: Antminer-S9-Vindicator.jpg]

   


GPU mining

Mining cryptocurrency with GPU-based mining rigs used to be a profitable venture, but this hardware has now become redundant.

At one stage, you could pay back a six-GPU mining system in a few months by mining Ethereum – now, it costs more to run this hardware than it earns in mining rewards.

This is true for other cryptocurrencies too, with mining ZCash unprofitable due to the development of ASICs and increased difficulty.
[Image: Mining-Rig.jpg]


   


by Jamie Mckane
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