Difficulty increase and longer term profit

Mining
1

** Figures below corrected as should have originally been “per week” rather than “per day”

Back in the middle of April 2017, the average difficulty each day was about 1 million at a rate of about $65…So with one 1,500 H/s rig you could earn 1.1 ZEC x $65 = or $71.50 per week.

Today at the middle of May 2017 we are up to 1,470,000 average difficulty each day and a rate of about $94. There also seem to be many more miners attached pushing the network hashrate up to about 95 MH/s compared to about 60-65MH/s a month ago. So with one 1,500 H/s rig, you now earn 0.75 ZEC x $94 = $70.50 per week - so roughly the same.

The additional network hashrate of about 30-35MH/s equates to about 21,000 rigs (at an average of 1,500 H/s per rig) coming online.

All the cryptocurrencies have seen an increase in value over the last month including Bitcoin, Ethereum and Zcash… But these 21,000 new miners that are mining Zcash today must have been mining something else yesterday (in reality I guess they mine for X hours against one coin then switch to something else)…

So my question(s)… Does anyone know what the bigger miners are doing to spread their risk - and any thoughts about whether Ethereum moving to POS later this year will mean that miners dump that coin and start mining Zcash or something else with their GPUs which could see a huge difficulty increase in Zcash mining…

Any other thoughts or experiences from longer term miners appreciated!

2

Can I ask at what pool are you mining to get those profits a day?

3

Sorry, figures should have been “per week” and I’ve corrected the original post…

I am mining with Flypool…

4

Thanks, kind of sad that its per week as I would have jumped on that pool so fast if it was per day

1 Like
5

looooool same i was like dude WHAT?

6

The large farms are switching from eth to whatever is profitable, and always have been. It is thought/believed that when eth hits POS that most will switch to zec since the hardware to mine zec are the same requirements.

as for risk, the huge jump in difficulty was probably due to the larger farms switching over the zec when the price jumped (they were already ready) and I would guess are flipping back and forth as difficulty and rate of each coin changes.