Mining Ergo for Fun and Profit (2024)

FAQs

Is Ergo profitable to mine? ›

Ergo is quickly becoming the best cryptocurrency in terms of mining profitability. Ethereum has become the cryptocurrency of choice for crypto miners, particularly those mining using graphics processing units (GPUs).

Miners have to perform memory-hard computations, making Ergo friendly for GPU mining. At least ⁓3GB memory is needed to mine Ergo currently, but the most efficient implementation utilizes around 4 GB of vRAM.

You can mine crypto-like Ergo coins using a straightforward mining pool called Nanopool. The process involves three basic steps: Create a wallet (using yoroi-wallet.com)

Ergo Mining Pool

Fully compatible with Nicehash.

#1) Antminer S19 Pro

The Antminer S19 Pro is the most profitable ASIC miner for Bitcoin and the SHA-256 algorithm for now.

Since September 15, Kadena has become the most profitable consensus algorithm this year. Bitmain's application-specific integrated circuit (ASIC) mining rig, the Antminer KA3, gets an estimated $69.41 per day with electricity costs at $0.12 per kilowatt hour (kWh).

You will need the following to mine Ergo: a GPU video card with a minimum of 4GB of RAM (ideally more if within your budget) mining software compatible with your card, such as T-Rex (Nvidia) or RedTeamMiner (AMD)

We could recommend Ergo SOLO mining only of experienced users and only if you could find at least 2-3 blocks in 24 hours. If in doubt always mine in the POOL.

CPU mining is very easy to start and a great way to earn passive income. It depends on two capabilities; hash rate and power efficiency (hash rate is measured in hash per second, and a great CPU can do 8-20kh/s).

What is Hashrate on Ergo? ›

Currently, Ergo network hashrate is 28.49 TH/s = 28 492 946 755 084 h/s. Network hashrate is calculated using the current network difficulty, the average block find time set by the cryptocurrency network and/or the effective block find time of the latest blocks. Network Difficulty and Hashrate Explained.

To mine ERGO with your PC, mining rig or gaming GPU, you will need: GPU with at least 3GB of RAM (see table above). Download the appropriate mining software for your GPU. Have a virtual wallet compatible with the ERG token.

For example, efficient ERGO mining can be conducted even by cards with less than 2Gb. ETH mining requires at least 2Gb. If you are an owner of an older video card with less than 4Gb, you should most certainly take a closer look at ERGO.

LHR GPUs are restricted from achieving 100% mining hashrate on some of the mining algorithms and coins like Ethereum and Ergo. GPUs labeled with LHR will, out of the box, perform at about 50% on some of the most popular algorithms mentioned above, but not all. Ravencoin (KAWPOW) for example is not affected by LHR.

It would take 4 days to mine 1 ERG with Nvidia RTX 3090 or 5 days to mine 1 ERG with AMD Radeon VII.

Answer: Monero is the easiest cryptocurrency to mine now because it can be mined via browser extensions and free software over websites. It is even mined via crypto jacking. The mining code can also easily be incorporated into apps and websites to facilitate mining.

Bitcoin – Most profitable cryptocurrency to mine. Ethereum – Best for smart contracts and corporate miners. Monero – Best for beginner miners. Ravencoin – Best for low investment mining.

“Overall, despite the sharp pullback in BTC spot price, the mining model remains highly profitable for most of the leading miners,” Vafi says.

And thanks to the volatile nature of cryptocurrencies, scalping has proven to be one of the best trading strategies. A good crypto scalper needs to respond instantly to price fluctuations in order to make sustainable profits.

What is the most profitable crypto mining rig? ›

The WhatsMiner m30s is said to have the highest hash rate among commercial SHA-256 miners. This MicroBT mining hardware mines at a hash rate of 112 terahashes per second (Th/s) with a power consumption rate of 3,472W and is known for its strong stability and profitability.

Ergo Mining

As we already mentioned, requirements to mine Ergo are reduced. GPUs with 3GB of RAM would suffice, similarly to the popular Ravencoin cryptocurrency.

The NVIDIA GeForce RTX 3060 TI is the best all-around card, mining quickly at a cost-effective MSRP. The NVIDIA GeForce GTX 1660 SUPER is the best budget card, available in many sectors for cheap. And the NVIDIA GeForce RTC 2070 is just a solid card at a low price.

NVIDIA GeForce RTX 3090

The RTX 3090 is the most powerful GPU from NVIDIA's RTX 30 series to date. It has everything you need to create one powerful mining rig. I'm talking a hashrate of 121MH/s, 24GB of GDDR6X VRAM, and more than 10,000 CUDA cores for gaming.

The VRAM temperature is the temperature of your graphics card VRAM. Optimal VRAM temperature is between 80°C and 95°C. When mining memory intensive algorithms, you can expect higher temperatures on the VRAM. Some of the RTX 3000 series models (RTX 3070 Ti, 3080, and 3090) experience issues with VRAM overheating.

The mining algorithm Ergo uses is called Autolykos v2, it's an ASIC-resistant memory-hard algorithm. This means you can use GPUs to participate in Ergo mining. Current Ergo mining software mainly supports NVIDIA and AMD GPUs. Please note that a GPU with a memory of more than 3 GB will be required.

Dual mining Ravencoin and Ethereum requires at least 10GB of VRAM on Windows and 8GB on Linux.

Ergo is not supported by Coinbase.

If you want reliability and regularity, opt for pool mining. However, if you'd rather take a gamble for a chance of a big payout, you could give solo mining a try.

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.

What is the easiest coin to mine with a CPU? ›

If you're looking for the most profitable coin to mine with your CPU, we recommend Monero (XMR). Monero is the first cryptocurrency that comes to mind when discussing CPU-minable coins. Monero is a popular coin because it is the easiest to mine with a CPU, and is a widely used cryptocurrency.

Mining crypto at home with a CPU is possible with coins like Monero, Zcash and Byte, but it will be a slow process and the cost of electricity may be more than the value of the coins you can mine. For those who want to get more serious, crypto GPU mining is a realistic path.

The CPU's wide range of responsibilities benefit from its equally wide skill set. But when it comes to the highly parallelized computations required for mining, the GPU shines. A CPU can't output the same raw hash power that a GPU produces, and you may earn more slowly as a result.

Nvidia RTX 3080 is one of the best GPU for mining, with its 100.0 Mh/s hash rate for Bitcoin Ethereum mining is only second to 3090 when mining and heavy processing.

Q #2) How long does it take to mine 1 Ethereum? Answer: It takes around 7.5 days to mine Ethereum as of September 13, 2021, at the hash rate or hashing power of 500 mh/s with an NVIDIA GTX 3090 that hashes at around 500MH/s. With a GPU that hashes at around 28.2 MH/S, it should take much longer.

What Is Considered a Good Hash Rate? A high hash rate is generally considered favorable as it shows a large number of miners are verifying transactions. As of March 2022, the world hash rate is 209.7 million terahashes per second. (A terahash equals one trillion hashes).

0.12 USD / Day

*Please note that values are only estimates based on past performance - real values can be lower or higher. Exchange rate of 1 BTC = 16657.50 USD was used.

Ergo mining is based on Autolykos, a fairly launched efficient ASIC-resistant Proof of Work algorithm.

RAM — Higher RAM does not mean that you get a better mining performance, so we recommend using anywhere between 4GB and 16GB of RAM. When deciding what size RAM best suits your needs, look at the operating system for mining and whether or not virtual memory is used.

Ergo Price Summaries

ERG has a circulating supply of 58.64 M ERG and a max supply of 97.74 M ERG.

Does ERGO have halving? ›

Economically Sustainable. Unlike Bitcoin, where block reward is halved every four years - which leads to a long tail of emissions - Ergo block reward will fall to zero after 8 years. After 8 years, a max supply (100 million) will be set for good.

The Ergo Foundation is pleased to announce that there is a new wallet option available for use in the Ergo ecosystem. Zelcore wallet, the popular wallet designed for Flux, has added support for the Ergo token ($ERG).

The reward estimates prove that dual mining can be more profitable than regular mining. So it makes sense to use your graphics cards to mine ETH and TON at the same time and get more profit.

Nvidia LHR graphics cards detect when they're being used for Ethereum (ETH) cryptocurrency mining and automatically halve the “hash rate.” Without diving too deeply into the weeds, this makes LHR GPUs less profitable for potential mining purchases due to their higher power draw relative to the now lower hash rate.

NVIDIA's new LHR GPUs have their hash rates halved, so they are not as appealing to miners as before. In addition to this, the GPUs will consume approximately the same amount of electricity, again making them less appealing to miners.

With solo mining, the chances of getting a higher long-term yield are more. Especially when we compare it to pool mining. Plus, rewards get higher over time as solo mining eliminates the need to pay a pool fee or transaction fee. Solo miners are free from any effects from pool timeouts.

How many Ergo are there? The current circulating supply of Ergo is 63.85M. This is the total amount of ERG that is available.

So to mine Ergo with Nanopool: Go to nanopool.org and choose the cryptocurrency of your choice. Click on 'Quick Start' to join the mining pool. Download the miner in a zip file. Extract the file from the zip folder, and save it in any folder of your choice on your PC.

Which cryptocurrency is most profitable to mine? Answer: Best includes Ethereum, Monaco, Monero, Vertcoin, Grin, Monero, ZCash, Bitcoin Gold, Haven, Ravencoin, Litecoin, and Aeternity.

1. Monero (XMR) Monero (XMR) is one of the easiest cryptocurrencies to mine using a home computer. Monero is based on the CryptoNote protocol and utilizes the RandomX hash function to create increasingly complicated mathematical equations.

Which coin mining is profitable 2022? ›

Vafi's top Bitcoin mining stock picks include Argo Blockchain (ARBK), HIVE Blockchain Technologies (HIVE), Hut 8 Mining (HUT) and Iris Energy (IREN). “Overall, despite the sharp pullback in BTC spot price, the mining model remains highly profitable for most of the leading miners,” Vafi says.

About Ergo

Ergo's price today is US$1.18, with a 24-hour trading volume of $975,301. ERG is -2.89% in the last 24 hours. It is currently -10.71% from its 7-day all-time high of $1.32, and 6.87% from its 7-day all-time low of $1.10. ERG has a circulating supply of 58.64 M ERG and a max supply of 97.74 M ERG.

The mining algorithm Ergo uses is called Autolykos v2, it's an ASIC-resistant memory-hard algorithm. This means you can use GPUs to participate in Ergo mining. Current Ergo mining software mainly supports NVIDIA and AMD GPUs. Please note that a GPU with a memory of more than 3 GB will be required.