Can the antminer mine ethereum

Rising cryptocurrency prices have led to an increase in demand for mining equipment, but COVID restrictions have led to a drop in supply. As a result, the world is witnessing another shortage of powerful video cards and cryptomining equipment , with months-long wait times for new deliveries. Cybercriminals, as always, are looking to capitalize on the crisis. Scammers and spammers have long relied on Google services Forms, Sheets, Calendar, Photos and others for their ability to send automatic notifications to anyone the author of a file or a calendar entry, etc. The e-mails come not from the actual author, but from no less an authority than Google, so spam filters typically let them through. In this case, potential cryptocurrency miners are receiving e-mails saying they have been mentioned in a Google Docs file by a user with the nickname BitmainTech the name of a real manufacturer of mining rigs.

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WATCH RELATED VIDEO: Antminer E3 Setup Tutorial \u0026 Review For Bitmain ASIC Ethereum Mining Setup

Bitcoin Mining: How long does it take to mine 1 bitcoin?

This means that like many other cryptocurrencies, a network of cryptocurrency miners is used to discover blocks and add pending transactions to them, to render them irreversible.

The block discovery process, which takes approximately 10 minutes per block, also results in the minting of a fixed number of new Bitcoin per block. This is currently set at 6. This BTC is provided as an incentive to the miner or miners if using a mining pool that discovered the block. Although it takes 10 minutes to discover each block and each block yields a 6. This means that only a single miner in the entire mining network will actually successfully discover the block—and since there are potentially tens of thousands of Bitcoin miners in operation, the odds of single-handedly discovering a block is quite low.

For this reason, the vast majority of Bitcoin miners work together as part of a mining pool, combining their hash rate to stand a better chance of discovering a block.

Then, regardless of which miner in the pool actually discovers the block, the rewards are distributed evenly throughout the pool. F2Pool is currently the largest pool by hash rate share, contributing around This This means a miner would need close to Before the decade is over, only BTC will be minted per day and enter the market as fresh supply.

This would also prove somewhat challenging, since the Antminer S17e is currently sold out as of December , and is only available at a markup via resellers. For those with a smaller budget, it would take a single Antminer S19 Pro an older generation, but widely available unit a total of 1, days to generate 1 BTC in rewards when working with a mining pool—that's the equivalent of generating 0.

This result will produce the number of days it will take to generate 1 BTC in rewards at current difficulty levels. Although most Bitcoin miners tend to focus their efforts as part of a mining pool, it's also possible to go it alone.

Unlike Bitcoin mining pools, which essentially guarantee smaller regular payouts and eliminate most of the risks involved with Bitcoin mining, solo mining is more of a gamble—but can also be more rewarding. Since solo miners don't need to pay any mining pool fees, the overall mining profitability can be slightly higher than working with a pool, particularly for those running a sizeable mining operation. Statistically speaking, a solo miner looking to generate 1 BTC per day would need to contribute just over 0.

As we previously mentioned, this is equivalent to around On average this mining operation would discover a block yielding a 6. Because even gigantic mining operations with over 2, rigs would take almost a week to discover a single block, miners with just a few machines would likely go years without discovering a block, making the practice extremely risky in most cases.

Previously one of the largest Bitcoin mining pools by hash rate, the OKEx pool saw a The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. In brief Bitcoin mining is a process that sees high-powered computers compete to discover a Bitcoin block and earn rewards for doing so.

Miners generally use specialized equipment such as ASIC mining rigs. Going solo can be slightly more efficient for miners, but is also riskier since the rewards come less frequently. Disclaimer The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. Load More.

Bitmain unveils Antminer E9 for Ethereum (ETH) mining

Not too long ago, Howtotoken started the 10KQA Challenge details about it here and the core idea was simple: build a moderated list of 10, questions for anyone who wants to learn more about the blockchain and cryptocurrency in general, and this challenge is already running into its fourth week:. One of the most interesting questions asked this week was in a discussion about Bitmain starting to sell its Antminer E3 , and how this will affect the profits when mining Ethereum. Thanks to the experts, we have received an interesting answer that we will now share with the community in this weekly report. As we all know, last week Islamic countries were allowed to use crypto by Muhammad Abu Bakar, but the most interesting question here is why cryptocurrency could be considered Halal and here are some of the reasons:.

You cannot use an Antminer for mining ether, they only work for Bitcoin. – Ismael ♢. Dec 10 '17 at Add a comment |.

Bitcoin Mining Made Easy

B itcoin and other cryptocurrencies are, depending on who you speak to, taking over the world. They have erupted onto the scene in the last few years, with seeing them each new levels of exposure. They are everywhere now, and it's hard to get through a day without seeing or hearing some reference to Bitcoin or another cryptocurrency. But a lot of people still have questions about them. It takes around 10 minutes to mine just one Bitcoin, though this is with ideal hardware and software, which isn't always affordable and only a few users can boast the luxury of. More commonly and reasonably, most users can mine a Bitcoin in 30 days. Technically, mining the Bitcoin can be done for free, as the software has no cost associated with it. However, there are huge costs involved with the hardware and electricity expenses.

Bitmain to Release Antminer E9 ASIC for Ethereum Mining

can the antminer mine ethereum

Some with impressive hash rates and some without. That's quite impressive! Especially when teamed up with the estimated power usage of 2, watts. But don't rush for your credit card just yet.

Verge XVG utilizes anonymous hub networks to enable private transactions. Feel free to check out the official website and block explorer to get more familiar with Verge before continuing.

Bitcoin mining in India: A profitable venture?

Bitmain released a video for the new Antminer E9, which it claims will do the work of 32 graphics cards GPUs , the expensive processors typically coveted by PC gamers that are also used by miners to mine for ether and other coins. The advertisement says the machines can produce up to 3 gigahashes per second the best GPUs produce roughly megahashes per second. Still, as evidenced by the E9 and other crypto ASICs, manufacturers have found ways around these limitations. As miners purchase these products , it underscores a tension between an Ethereum mining industry that is heavily invested in proof-of-work while its community and developers make moves toward a new network in Ethereum 2. Mining sources tell CoinDesk they expect Ethereum mining activity to continue for at least a year following Ethereum 2. Updated April 27, , UTC: This article was updated to clarify that the most efficient ether-mining GPUs can produce nearly megahashes a second.

Bitmain Antminer E9 Ethereum Mining ASIC Packs Power Of 32 GeForce RTX 3080 GPUs

Therefore, you have a chance to make easy money from mining the less competitive second-largest cryptocurrency. At least that's my understanding at a high level. Miners are rewarded for providing solutions to difficult mathematical problems through blockchain technology, just like Bitcoin mining. Lower entry barriers — GPU miners are not cheap, which creates a massive obstacle for people who want to start mining Ether. I'm wanting to invest in a ASIC Miner or maybe even a few but there's so many and when I look at the profitability margins between miners the stats differentiate quite a lot. Mining Ethereum can still be profitable. ASIC Miner profitability ranking. Instead of burning the fees, it could be distributed to miners in the next unspecified number of blocks.

Shirshov estimates that the Ethereum network will reach mining epoch around the 8th of April. At this point, it is expected that the Antminer E3 will no.

How Do You Mine Litecoin?

Verified Supplier. Have a requirement? Get Best Price. We aim for long term cooperation and win-win policy, high quality and professional service team and factory resources would always help you to figure things out easily and smoothly.

How Long Does it Take to Mine One Bitcoin? (2021)

First things first. If you're only interested in owning litecoin , you should probably buy it from an exchange such as Coinbase. If, on the other hand, you want to try your hand at mining litecoin—because you think you have the time and resources necessary to make a profit, because you want to help keep the litecoin network decentralized, or out of a sense of curiosity—this guide will give you a sense of the concepts, an introduction to the vocabulary, and suggestions for further research. Because the nitty-gritty of litecoin mining depends so much on your hardware, software, operating system, and pool, this is not a step-by-step tutorial. If you've gotten those variables figured out, there are good guides available online and helpful forums for when search engines fail you.

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Customs clearance. We do consultations from helping the beginner who doesn't know how crypto works, let alone what miner to buy; to helping serious crypto miners with multiple mining farms. If the buyer agrees, the repair will be done. Please note that they are new miners and after upgrading the machine may not be refurbished, if you expect a high-standard appearance, your discretion is strongly advised. ASIC is a device designed for one purpose of digital mining currency only, and it runs complicated calculations searching for a unique number. Firmware installation. We make mining simple.

Mark figures the university owes him. Skip to navigation Skip to content. Now 23, Nath runs a company unrelated to crypto, but santa rosa bitcoin can antminers mine ethereum his network in the crypto and blockchain community.

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