Ergo (ERG) Mining Profitability Calculator - for Pools and Solo (2024)

FAQs

What is the difference between solo mining and pool mining in Ergo? ›

What is the difference between Pool and Solo ERG mining? While you mine in the POOL you work together with other miners. In SOLO mode you are alone. If you find 0 blocks your reward is 0.

How long does it take to mine 1 ERG? It would take 3 days to mine 1 ERG with Nvidia RTX 3090 or 3 days to mine 1 ERG with Nvidia RTX 3080Ti.

Solo mining can offer higher returns over time than pool mining, but it requires patience and can take longer to find blocks. Pool mining is preferred for altcoin or bitcoin mining, so solo mining should only be pursued if large amounts of hash power are acquired.

Can I Mine Bitcoin Without Joining a Pool? Yes, you can. However, joining a pool is a much more profitable way to mine Bitcoin, especially since its difficulty increases with every miner that joins the network.

Factors that affect Ergo mining rewards include initial setup costs, electricity costs, ERG price volatility, software and hardware configuration, and hardware maintenance and repair costs. Based on a hypothetical scenario, Ergo mining is profitable if electricity costs are below $0.08/kWh.

He added that the solo miner had a large hash rate of around 120 petahashes per second (PH/s) at the time, equal to around 0.12 exahashes per second (EH/s), with an average of around 12 PH/s over a week, which is roughly 0.02% of the total network hash rate.

In some cases, solo miners may find a block relatively quickly, while in others, it could take days, weeks, or even months. Solo miners must be patient and understand that finding a block solo is not guaranteed and can be unpredictable.

The Bitmain Antminer S21 Hyd 335T is the most profitable Bitcoin mining machine currently, followed by the Canaan Avalon Made A1266, and MicroBit Whatsminer M50S. If you want to mine other cryptocurrencies, the Bitmain Antminer KS3, Bitmain Antminer D9, and Bitmain Antminer K7 are all solid choices.

What protocol does Ergo use for mining? ›

Mining Ergo requires the use of the Proof-of-Work (PoW) consensus algorithm, which is similar to that of Bitcoin and other cryptocurrencies. However, Ergo introduces novel features like storage rent fees aimed at reducing blockchain bloat and encouraging active network participation.

At least ⁓3GB memory is needed to mine Ergo currently, but the most efficient implementation utilizes around 4 GB of vRAM. A part of ASIC resistance on Autolykos v2 is credited to Ergo's periodic memory table adjustments.

Payouts are processed automatically every 2 hours. To get the payout you need to reach the payout threshold. For most of the coins, you could set it on the "Account Settings" tab.

Mining is a physically demanding industry that requires a high level of skill, knowledge, and dedication from those who work in it.

Solo mining yields unpredictable revenues as rewards depend on luck rather than the consistent block generation observed in pool mining. Time-Consuming: The process of block generation takes longer when working independently, and dedicating resources to solo mining may not always result in profitable returns.

One of the main advantages of solo mining is that you have the potential to earn the full block reward if you are the first to solve the mathematical problem. However, the chances of solving a block solo are very low.

Mining pools give everyone a fighting chance against (or to work with) those who have built vast, ultra-expensive mining farms. Mining also pools require less of each participant in terms of hardware and electricity costs, thus increasing the chances of paying any associated expenses and profiting.

Factors that affect Ergo mining rewards include initial setup costs, electricity costs, ERG price volatility, software and hardware configuration, and hardware maintenance and repair costs. Based on a hypothetical scenario, Ergo mining is profitable if electricity costs are below $0.08/kWh.