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How to boost mining revenues with hashrate marketplaces

Owners of Bitcoin mining hardware can sell their hashrate to potentially earn more compared to mining BTC directly.

In the busy login password mining industry, promotion is particularly important. With meagre gross margins and the need for the best measurement ability, a means to raise all conclusions is welcome. When miners try to make normal profits, they usually turn to traditional mining software. This pool allows miners to integrate her hashing ability, so they bring benefits more frequently than independent mining. But there are more.

Another option for the miner is to sell his hash rights. Hashing capability is mainly used to deal with the differential hashing algorithm hardware configuration (ASIC) computing power on which some digital currencies are based. The market sales hash rate can be based on the market hash rate. In such cases, the miners' earnings are driven by the demand of buyers, not the price of difficult coins.

What is the hash rate sales market?

The merchant and buyer of the hash right can also meet in the hash rate sales market to trade the hash right. The buyer chooses the hash rate and sets it to the designated pool. Subsequently, the buyer receives a digital currency reward based on the selected pool and does not have a mining hardware configuration. Users of ASIC (miners) who sell hashing capabilities are instead paid from buyers who give such hashing capabilities. Every share received by the seller is paid to the buyer immediately.

The hash rate for sale is more attractive to mining hardware configuration users because buyers charge it with BTC (BTC). Therefore, the buyer bears the risk of mining or not mining the block. If buyers overcome a blockchain on their own, they will receive a full block reward of 6.25 bitcoins when mining BTC. On the other hand, mining hardware users will get the average price of all orders, regardless of whether the blockchain has been mined or not. This avoids the luck elements of mining software.

The number of orders reaches the level of hardware configuration users, which increases the stable income, because the remuneration of merchants is the comprehensive average of industry orders. This is one of the reasons why miners will also find selling his hash rights an interesting choice rather than adding mining software.

New Hashrate market innovation

When it comes to the hashrate sales market that has been created, NiceHash assists hashrate's retail buyers in buying hashrate and tries to use it to mine independently. In software, NiceHash allows buyers to pick the digital currency they want to mine. Subsequently, NiceHash miners will execute the order information and lend their network resources to buyers. In that way, buyers do not have to worry about complicated mining practices, so that they can get the finished product most directly: the probability of mining login passwords.

Origin: NiceHash

As mentioned above, several miners choose to use their mining hardware configuration to earn login passwords. Selling hashrate rather than deploying it immediately is one of the most mercenary options. According to NiceHash, miners based on his market hashrate have been able to earn 5.1 per cent in the past six months, compared with mining BTC immediately.

The site can create a stable revenue stream because it gathers orders from buyers. The average of all these orders is then used to determine miners' salaries based on the per-share (PPS) incentive mechanism.

However, this form of deploying hash rates may be an easy and profitable solution for many miners. NiceHash is compatible with most ASIC mining equipment, such as Antminer, WhatsMiner and Avalon model specifications. This also makes it easy for most miners, whatever they are, to transfer to the sales market and give their hashrate in open market operations.

At the level of group polarization, the site is also a compelling choice. As the laws and regulations of login passwords change at any time in recent years, it becomes more and more difficult to maintain secret names. However, on NiceHash, miners do not have to follow the KYC steps. Miners can dig on NiceHash without sharing personal information. The miner can receive the reward in their account, but can also choose to pay the reward to his bitcoin wallet in a lump sum.

Learn more about NiceHash
by Thomas Hill
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.



Tue, 18 Apr 2023