BITMAIN released the latest ASIC miner in February - Antminer D9 for mining Dash cryptocurrency. This new miner comes with better power efficiency of 1.6J/G and higher hash rate of 1770 GH/s compared to its predecessor Antminer D7. The power consumption of Antminer D9 is estimated to be 2839W, which brings D9 to the next level of high performance miner.
With all of these improvements and impressive metrics in mind, an important question miners might raise is whether Dash mining is still a profitable endeavor. Before delving into this question. Let’s dig a little deeper about Dash and its community.
What is Dash and why does it attract attention?
Dash is a prominent alternative cryptocurrency and one of the early projects that were forked from the Bitcoin blockchain. It developed technical innovations to make up for some shortcomings of Bitcoin blockchain, such as the transaction speed. Dash is able to process 56 transactions per second, and with Dash InstantSend, transactions are processed within 1-2 seconds, making Dash an ideal currency for performing daily transactions. Besides the feature of transfer and online payment, Dash also explores the layer two applications in experimental ways, such as Masternodes and smart contracts, which enables the community to help manage the development, marketing and infrastructure of the network. The utilities differentiates Dash from other cryptocurrencies, and gives it a long-term value.
What’s the benefits of mining Dash compared to buying on the exchange?
You can either buy Dash on a crypto exchange or mine it using ASIC miners in the same way as mining many other PoW altcoins. The advantage of mining Dash over buying it on crypto exchanges is that it saves transaction cost and waives the concerns regarding safety and security of exchange platforms. Miners will work with Masternodes to secure Dash network and make passive income while machines running 24/7 to keep Dash coins in circulation. Once you decide to stop mining, the mining rig can be resold as an asset to cover some purchase costs.
Is it the right time to mine Dash in 2023?
So back to the original question – Is it the right time to mine Dash in 2023?
The profitability of Dash mining depends on a number of factors, including the cost of electricity, the price of Dash, and the efficiency of mining equipment and so on.
We can estimate the potential earnings of the Antminer D9 by using the mining profitability calculator on ANTPOOL App, which takes into account the hash rate, power consumption, and other relevant parameters.
Assuming the average electricity cost in the United States is $0.08 USD per kWh, based on current price of $76, the Antminer D9 could potentially generate a daily earning of around $33.66 USD to $38.58 USD, depending on network difficulty. After taking the costs of electricity and mining pool fees into account, the profit is around $27.23 USD to $32.91 USD.
Additionally, DASH's two-tier network system allows for masternodes to earn rewards for their services, so there are other ways to earn income from supporting the DASH network.
However, it is crucial to note that cryptocurrency mining can be highly volatile, and profitability can change rapidly based on a range of factors. Therefore, before investing in mining, it is advisable to do your own research.
To keep the profits up, what should you keep in mind?
Apart from finding cheap electricity and owning the efficient machines, to maintain favorable mining profits, mining pools are the best mining solution today since they combine the hashing power of numerous highly efficient machines with their winning rewards. One key option that miners have is ANTPOOL. ANTPOOL is headquartered in Singapore, the up and coming cryptocurrency mining hub. It provides round-the-clock customer service, worldwide server nodes and stable mining services, offering Pay-Per-Share (PPS) payout method to Dash miners with competitive mining pool fees. ANTPOOL is always trying to optimize miners’ mining output while minimizing their mining costs. Mine Dash on ANTPOOL and start earning today.
