Modern <a href="https://ultramining.com/news/en/cryptocurrency-miners-strike-gold-with-record-13-9b-net-profit/" rel="noopener noreferrer nofollow">cryptocurrency miners</a> have found that reselling their <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> can be more profitable than direct mining. Some miners have doubled their income by using platforms to sell their hashrate and capitalizing on the increased demand for computational power.
For instance, on the <a href="https://ultramining.com/news/en/nicehash-launches-rig-manager-for-enhanced-crypto-mining/" rel="noopener noreferrer nofollow">NiceHash</a> platform, payouts for hashrate reached 0.00140 BTC/PH/Day, which is about $80 per PH/Day. This is significantly higher than the average income from direct mining, which is around 0.00069 BTC/PH/Day or $39 per PH/Day. Miners are using this strategy to maximize profits, especially during periods of low mining profitability and high market volatility.
Reselling hashrate allows miners to mitigate risks associated with cryptocurrency price fluctuations and ensures a more stable revenue stream. This model also attracts new participants to the industry by lowering entry barriers and enabling more efficient use of existing equipment.

Miners Earn More by Reselling Hashrate Instead of Direct Mining

Ultramining_Eng

Other articles published on Sep 14, 2024

Top Analyst Explains Why Solana (SOL) and Tron (TRX) Meme Coins Are No Longer Top Picks for Big P...

FTX/Alameda Wallet Unstakes $24M SOL Amid Ongoing Investigations: Report

Shocking Report from Ark Invest on Spot Bitcoin ETF: Investors Facing Losses!

What is Chain Abstraction?

James Fickel Faces $43.7M Loss and $132M Debt from Risky BTC/ETH Trading

Silver-Tongue Analyst’s Next Bet for Bitcoin (BTC) as Price Chart Mirrors Bullish Historical Moves

Join our free newsletter for daily crypto updates!