The profitability of mining cryptocurrencies, including Ethereum, depends on several parameters: the price of the cryptocurrency, the complexity of the network (the number of miners), and rewards for each block found. And each of these parameters, as shown by the recent DeFi story on the ETH network, is important. If earlier, before the hype around DeFi, few people took into account the size of the reward in each block, because the reward is fixed plus a small percentage of transfer fees and this practice did not affect the income from mining. That autumn of 2020 changed everything - the blocks in the Ethereum network, due to the increase in the cost of commissions in the network, increased from the standard 2, .2-2.4ETH to 10 ETH and in some moments the block size reached 504ETH (block #10864496). Naturally, the profitability of mining with such abnormally large blocks increased by 4-5 times, which could not but rejoice all miners mining Ether. Now, the block size is another important parameter that miners monitor in addition to the price of the cryptocurrency and the complexity of the network (network hash rate). Next, we will tell you where in one place you can clearly see on the graphs the block size, network complexity, price and income from mining, depending on the power of your equipment and the price of electricity.
The example shows a typical mining rig for 5 AMD Radeon RX580 video cards with a hashrate of 150Mh/s and a power consumption of 500W. You can calculate your data yourself here
Unnecessary charts can be turned off for greater clarity of the parameters that are important for you. In the example, the network hashrate and difficulty charts are disabled, but the block reward chart is left on the Ethereum network.
The parameters for calculating the profit from mining and the payback of equipment are set in the same window.
In calculating the yield, the current block reward is used, which is indicated on the right, where information on the Ethereum cryptocurrency is indicated. On the graphs, you can see how the mining profitability changed during the week depending on the price, network complexity and block size. And which of these parameters made the greatest contribution to the increase or vice versa decrease in mining income.
Calculate the income from mining the Ethereum cryptocurrency for your equipment.
