Study Shows Bitcoin Mining Is 8X More Profitable Than Other Coins
By Daniel Zo Bitcoin, Ethereum, Mining Read CommentsThe cryptocurrency mining market has been pretty volatile over the last couple of years, granted massive price swings, updated regulatory frameworks, and fluctuating difficulty rates. Despite this aspect, tens of thousands of people throughout the world have invested in purchasing mining hardware, to help mine their favourite cryptocurrency, and turn a profit.
At this moment in time, most popular digital currencies rely on miners to dedicate their hardware resources to authenticate transactions, and ensure the fulfilment of the proof-of-work protocol, which in return, rewards them with newly-minted coin. Mining represents an immensely profitable market, especially when access to low-cost electricity is available, and when volatility brings coin prices up.
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