Electroneum is a mobile-oriented cryptocurrency that can be mined on a smartphone. Its instant payment system allows transactions to be settled instantly. Anyone with a smartphone can mine or transact Elctroneum for free. All you have to do is install the Elctroneum app and start mining. The miner runs silently in the background and consumes virtually no processing power or battery. Mined coins are sent directly to your wallet, so you can spend them on various online and offline stores.
This coin was designed specifically for smartphone users and especially for citizens living in underdeveloped countries that lack banking facilities. Although Electroneum was designed to mine on a smartphone, ASICs too joined the network.
Electroneum forked on May 30, 2018, to prevent ASICs from mining the coin. But, to everyone’s surprise, this brought in several malicious miners to the network. Some miners realized that they could rent a massive amount of hash power from a marketplace and make a good profit from it. These miners exploited the difficulty algorithm for profit.
To fix this issue, Electroneum forked again in July 2018 to Cryptonight algorithm to allow ASICs back in. ASICs can mine Electroneum at exceptionally high hash rates, compared to most powerful GPUs. Mining Electroneum with a GPU or CPU is unprofitable now.
To mine Electroneum profitably, you must own an ASIC. These are some of the best ASICs available for Electroneum right now:
Innosilicon joined the Cryptonight ASIC market with their new A8+ CryptoMaster. This is the most powerful Cryptonight ASIC available on the market. It can hash at a rate of 240 KH/s with a power consumption of 480 W. Innosilicon A8+ is slightly heavier than Bitmain’s Antminer X3, weighing 7.3 Kg. Weight is an important consideration, as it can add significant shipping costs.
In terms of efficiency, Innosilicon A8+ beats Antminer X3 and all other ASICs in the market, with a rate of 2W/KH. Efficiency is one important factor that determines ASICs profitability. This is why A8+ CryptoMaster is the best Cryptonight ASIC.
Owning one of these machines mean, you get to mine Electroneum and all other CryptoNight coins for a good profit. You can check the prices here.
Antminer X3 is a close competitor to Innosilicon A8+ CryptoMaster. This machine is capable of hashing at a rate of 220 KH/s with a power consumption of 550 W. It is developed by the Chinese technology company, Bitmain.
In terms of efficiency, it has an efficiency rate of 2.5 KH/KH, which comes in second to A8+ CryptoMaster. However, it is slightly less heavy than A8+ CryptoMaster, at just 5.5 Kg. It is also priced lower than A8+ CryptoMaster.
However, obtaining one of these machines is very difficult. As of now, it is sold out on Bitmain’s official website. Your best bet is to look on eBay or Amazon. You can check out here.
Another company, Halong mining, released two CryptoNight ASICs, DragonMint X1 and DragonMint X2. DragonMint X1 can hash at 124 KH/s with a power consumption of 245 W. And DragonMint X2 hashes at 248 KH/s with 490W.
DragonMint X2 is twice as powerful as the X1 and consumes twice the power. But, it is cheaper to buy 1 DragonMint X2 than buying 2 X1s. In terms of efficiency, DragonMint X2 has a rate of 2 W/KH, which is on par with A8+ CryptoMaster. The only reason why this ASIC is third on our list is the price tag.
When you buy an ASIC, it is important to consider the efficiency, total cost, and the estimated profit of the ASIC. DragonMint X1/X2 is pricier than some of the other ASICs in the market. You can check out here.
PinIdea RR-200 promises a hash rate of 27 KH/s with a power consumption of 350 W. Although it was a competitor to Baikal Giant N at the time, it is very weak now, compared to Bitmain’s Antminer X3. RR-200 is a power eater with an efficiency rate of 13 W/KH.
What is interesting about RR-200 is, it supports two algorithms. Cryptonight and Cryptonight-light. You can hash Cryptonight-light at 55 KH/s.
As of now, it is no longer profitable to own one. Although, with fluctuations in the price of Electroneum, difficulty, or you have access to cheap electricity, it can be profitable. You can check out here.
This is the last on our list of best Electroneum mining hardware. It is an ASIC released by Baikal Miner with a maximum hash rate of 20 KH/s with a power consumption of 60 W when hashing Cryptonight. Just like PinIdea RR-200, it also supports two algorithms: Cryptonight and Cryptonight-light.
In terms of efficiency, it is better than PinIdea RR-200 at 3 W/KH but lags behind some of the other competitors. Although it is no competitor to Innosilicon A8+, it is certainly better than any GPU. You can check out here.
How to Calculate Electroneum Profit
Perhaps the most important factor when determining which ASIC to by is the profit you are going to make. Any of the ASICs mentioned above can be very profitable if you have access to cheap electricity. But, not everyone has that luxury, so, you must always try to recoup the investment as quickly as possible. Therefore, it is important to estimate your daily earnings.
To estimate your earnings, use WhatToMine Electroneum Calculator. Enter the hash rate of your ASIC, power consumption, cost of electricity, pool fees and hit calculate. You will see the estimated earnings of the ASIC. By doing this, you can buy the ASIC that suits your budget.
It is important to understand that these figures are only estimates. Profitability can change with fluctuations in the Electroneum network. That is why it is important to estimate earnings before making a purchasing decision.
Above are some of the best Electroneum mining hardware. With the Electroneum fork in July 2018, ASICs started to dominate the Electroneum network. If you want to mine Electroneum but do not own ASICs, there are still ways to mine. Cloud mining is one way of mining Electroneum without an ASIC. Check out our article here.