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As ethereum is on its way to becoming unmineable, shifting from Proof of Work to Proof of Stake, the mining industry is under deep stress because ethereum was the only strong altcoin with good returns and can be mined with GPU. There are many other coins that were always an alternative to ethereum but as time is coming near it is now becoming a hot topic that which are the next best coins to mine, which are the better algorithms, which are the better GPUs, and which are the better platforms.
Ethereum mining was cost-effective when compared to the mining of any other coin, it is sure that even after ethereum, miners will still be in profit but compared to ethereum mining it will be less. Around 6 to 8 months are left and then ethereum will become unmineable. Now, what’s next?
Best alternatives to ethereum
The top alternatives to ethereum, to be mined are:
- RavenCoin
- Equilibria
- Ethereum Classic
Now, these above-mentioned coins are actually some good alternatives but as we know alternatives are always the second option and come with some limitations. The limitations of mining these coins are, not for all but some require more mega hashes and high power consumption but still many of them are profitable.
The two topmost profitable coins to mine after ethereum is Ravencoin & Ergo that mines on KawPow & Autolykos algorithms respectively followed by Flux.
Top GPUs for mining
Ethererum was the best option for miners as ethereum was cost-effective & much profitable both at the same time. Now we have to do heavy research while selecting any GPU for mining as there are a number of factors that affect the mining process and mining profitability.
List of some top Nvidia GPUs:
- RTX 2080Ti
- RTX 2080 Super
- RTX 3080Ti
- RTX 3060Ti
The rates of all the GPUs are skyrocketing but it can be assumed that after ethereum mining will be stopped, maybe we can see a decline in these skyrocketing prices of the graphics memory.
The above mentioned are good picks as they are dynamic in nature and can mine a variety of coins and so are futureproof.
Best mining platforms 2021
I will not give you any list of platforms because I don’t like them all so I don’t want you to get confused between different platforms. The two platforms that I recommend are Unmineable. Now the question arises why I recommend only these two platforms :
- Kryptex UI is extremely clean and easy to use, so if you are a beginner you can easily learn the concepts and your crypto mining journey will be extremely smooth.
- Kryptex provides a wide variety of withdrawal methods and this is the second-best feature, the withdrawal fee is extremely low, just 0.0005 satoshi for bitcoin and for ethereum, it is high. a
- Kryptex gives you the option to earn from referrals, so it will help you to make some more passive income.
- Unmineable is the industry’s top mining service provider according to me as they have this feature that you can get your withdrawals in many different currencies that are actually unmineable.
- Unmineable pays the network fee for your transaction and they also provide a way to earn from referrals.
I tried to provide you all a quick, short, and valuable information and I hope it will help you to figure out some better alternatives.
How to build a profitable mining rig?
First things first, a good GPU is the one that provides good hashrates for more than three coins at least. For example, RTX 2080 Ti is a good choice for mining ethereum, raven coin, and as well as conflux. So choosing a GPU is the primary step if you want to build a profitable mining rig.
Second thing is the motherboard, always go for the best motherboard that suits your budget, go for a motherboard with at least 3 x16 graphics ports or if you go for motherboards with more x4 & x8 ports then you have to depend on risers to connect your graphics cards. Risers are cables that convert your x4 ports into x16 ports.
You don’t need to spend much on processors as there is no need for processors when you mine with your GPUs, CPU mining is also done but that is not at all profitable. Any average CPU such as Intel core 3 9th gen or Pentium will work.
A 4 Gb ram stick will work but I recommend always going for an 8 Gb stick.
Now, the power supply unit, depends on how many GPUs are there in your rig and the total power consumption, suppose if you are having a single GPU mining rig and let the GPU be Nvidia 1660 Ti then Psu can be 450 watts, but if you have multiple GPU that have high power consumption then always go for 1000 watt or more PSU, according to the power requirement.
Rig build [ Under $1000]
GPU: Nvidia P104-100 [ https://www.kryptex.org/en/hardware/nvidia-p104-100
Motherboard: GIGABYTE B450 AORUS PRO Wi-Fi
Processor: AMD Ryzen 3
RAM: 8 Gb HyperX
PSU: 450 watt Gigabyte
Profitability: $800 annually
The motherboard used in this rig contains 3 x16 slots so you can add 2 more GPUs later but if you do so you have to add PSU, if you plan to add more GPUs then it is better to add a 1000 watt PSU in the starting.
How much time is left to mine ethereum?
It is predicted that by March 2022, the ethereum network will be upgraded fully and it will be proof of stake and its mining will be stopped. Raven Coin is ready to take the place and this is my assumption because all the miners will convert their mining rigs toward mining ravencoin.
