![]() ![]() Last week, a Canadian mining firm confirmed a deal to purchase 14,000 bitcoin ASIC rigs for $46m the equivalent of 0.5% of the BTC hashrate.Īt press time ZEC was valued at $153, giving it a total value of $666m down by over 5% according to CoinMarketCap. Bitmain, the manufacturer behind Antminer, has a $12bn valuation and the company reportedly made $3-4bn in operating profit in 2017. Originally more of a hobby for enthusiasts, cryptocurrency mining has become big business. ![]() Running off the Equihash hashing algorithm, Bitmain’s Antminer Z9 mini, which was only unveiled at the beginning of May, was the first ASIC designed for the ZEC network. Using the same parameters, Antminer E3 users could expect profits somewhere between $1,270 and $271 the most optimistic profit for those mining bitcoin with a GMO B2 was $283, the lowest was just $81 over a two year period.Ĭreated in 2016, Zcash is a peer-to-peer currency that gives users the option to selectively disclose private information, meaning senders can decide whether to send funds privately or transparently. Skeptical predictions – a 40% difficulty increase and 8% price increase in the same timeframe – still suggested miners could bring in nearly $1,400 in the first year of operation, even though it would become economically non-viable in the second year. Optimistic predictions – a 15% increase in difficulty and a 10% price increase on a monthly basis – brought the rate of return down to just under $5,400. Anything Crypto provides predictions that factor in increases in mining difficulty as well as changes in the price of Zcash.
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