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Why mine Crypto?
Not only was I interested in supporting to secure the blockchains of projects I support, but of course I was also interested in earning a passive income using my gaming PC. What's best is that tools like encourage decentralisation in crypto! It's a massive mining pool with miners located all over the world. My PC is a modest HP Omen with a GTX 1660 Super graphics card, so after mining for nearly 7 months, how much has my entry-level graphics card earned me?
Why NiceHash?
The most off-putting thing about mining is the wear and tear it can put on your graphics card, so I was looking for a remote monitoring tool that I could monitor temperatures and shut down the rig if necessary whilst I was was away from home. In doing so I stumbled upon NiceHash, and I'm glad I did. It turns out I had been overcomplicating mining on a Gaming PC unnecessarily as NiceHash has 'OverClock' settings, a remote GPU temperature monitor, and remote control over your 'rig' tied in with a handy and functional app. Anywhere I am in the world, I can check in on my rig, restart and pause and restart as well as check in on real-time and historical earnings. Useful and simple!
TLDR: $596 of BTC in 7 months
With NiceHash QuickMiner, your machine will run the Nicehash-Ethash mining algorithm and in short, you will be mining and securing ETH, but you are paid in Bitcoin ($BTC) at generally a fair but variable rate! All of the BTC I have earned, I HODL'd from April 20th 2021 to 18th November 2021 (7 months) and at today's price is worth $596. I'm very happy with that since it has already paid for 50% of the cost of my entire gaming PC. This doesn't take into account electricity costs but I'm based in the UK where I have a 17p per kWh price, and the machine has run near constantly during this period. Even if it became inefficient to mine BTC, I probably still would, I believe in the future of BTC and I think its price will reflect that long term, I'll just HODL until then. I get 29.7 MH/s from my 1660 Super which is pretty good.
How can I predict my earnings?
NiceHash has a handy profit calculator tool that you can use to check your potential passive income, though you should bear in mind that this is an instantaneous calculation based on the current GAS fees. You can find that tool here: Mining Profit Calculator
Isn't it too late to mine?
There are still GPU mineable cryptocurrencies out there, and there's still a year before Ethereum switches over to proof of stake fully. In that time, why not accumulate some free Bitcoin. When mining becomes unprofitable on Ethash, NiceHas would likely switch you over to a different profitable one. I still believe that the entire crypto space is still in its infancy, and the long term price potential of anything mined today will likely be worth multiples more. People were saying 5 years ago that mining wasn't profitable, though mining today still is.
How do I get started mining
- Download QuickMiner
- Follow the instructions
- Start mining
- Apply Overclocks
- Withdraw to for free!
Start Mining with NiceHash
