Ethereum Classic (ETC) and Ethereum (ETH) are 2 competing versions of the original Ethereum blockchain. The main reason for this split was the DAO hack in 2016. The original version of Ethereum was called Ethereum Classic (ETC) and the hard-forked version was named Ethereum (ETH).
As of now, Ethereum Classic (ETC) is the 24th largest cryptocurrency in terms of market cap. If you want to mine Ethereum Classic (ETC), there are few ways you could do that. You can mine with an ASIC (Application Specific Integrated Circuit), graphics cards or cloud mine. As of today, mining ETC with a CPU is inefficient and unprofitable.
The most efficient way to mine Ethereum Classic (ETC) and all other coins that use the Ethash algorithm is to mine with an ASIC. These are powerful machines designed to do just one thing. It is to hash the Ethash algorithm.
Although there is a handful of Ethash ASICs available today, it is still profitable to mine Ethereum Classic (ETC) with a decent graphics card/s. In this article, we will list out some of the best hardware for mining Ethereum Classic (ETC).
Best ASICs for Mining Ethereum Classic (ETC)
This is the most powerful ASIC for mining ETC at the time of writing. This powerful machine is capable of hashing at a rate of 500MH/s with a power consumption of just 750W. It is very efficient at 1.5 W / MH. Efficiency is one important factor that determines how profitable your mining venture is going to be.
Although, the price of a cryptocurrency, electricity cost and the total cost of the mining setup are all important factors that determine profitability. As of today, this ASIC goes for USD 2500. The price of ASICs fluctuates with the fluctuations of cryptocurrency prices. You can buy this ASIC from Innosilicon’s official website. Check out here. If you want to get one for cheap, check out on eBay or Amazon.
Before you buy an ASIC, it is very important to calculate the estimated profit. You can learn how to do that at the end of this article.
Antminer E3 is a powerful machine produced by Bitmain. This machine is capable of hashing Ethash algorithm at a rate of 180 MH/s with a power consumption of 800 W. This puts its efficiency at 4.45 W / MH. Check out this ASIC here.
Buying the right power supply unit (PSU) is equally important as the ASIC. Do not be cheap when selecting the right power supply. Having an insufficient PSU can wear your mining setup. For example, Antminer E3 consumes 800 W. So having a 1000 W power supply is sufficient. Do not buy a power supply that draws more power than the mining setup needs either. This can make your mining setup inefficient.
Best Graphics Cards for Mining Ethereum Classic (ETC)
Ethereum Classic (ETC) uses Ethash algorithm. The best graphics card for mining is the one that makes you the most money, given your budget. The price of ETC, the cost of the graphics card, estimated profit and difficulty are all important factors to consider before buying graphics card/s. Use the table below as a guide for buying the best graphics card:
|Graphics Card||Hash Rate (Ethash)||Power Consumption||Efficiency||Price||Profit|
|RTX 2080 Ti||52.50 MH/s||220 W||4.19 W/MH||Check Price||Check|
|RTX 2080||36.90 MH/s||190 W||5.15 W/MH||Check Price||Check|
|RTX 2070||36.90 MH/s||150 W||4.07 W/MH||Check Price||Check|
|RTX 2060||27.60 MH/s||130 W||4.71 W/MH||Check Price||Check|
|GTX 1660 Ti||25.70 MH/s||90 W||3.50 W/MH||Check Price||Check|
|GTX 1660||20.50 MH/s||90 W||4.39 W/MH||Check Price||Check|
|GTX 1080 Ti||49.50 MH/s||190 W||3.83 W/MH||Check Price||Check|
|GTX 1080||34.00 MH/s||150 W||4.41 W/MH||Check Price||Check|
|GTX 1070 Ti||30.50 MH/s||130 W||4.26 W/MH||Check Price||Check|
|GTX 1070||30.00 MH/s||120 W||4.00 W/MH||Check Price||Check|
|GTX 1060||22.50 MH/s||90 W||4.00 W/MH||Check Price||Check|
|GTX 1050 Ti||13.90 MH/s||70 W||5.06 W/MH||Check Price||Check|
|Radeon VII||78.00 MH/s||230 W||2.95 W/MH||Check Price||Check|
|RX Vega 64||40.00 MH/s||230 W||5.75 W/MH||Check Price||Check|
|RX Vega 56||36.50 MH/s||210 W||5.75 W/MH||Check Price||Check|
|RX 580||30.20 MH/s||135 W||4.47 W/MH||Check Price||Check|
|RX 480||29.50 MH/s||135 W||4.58 W/MH||Check Price||Check|
The graphics card stats in the table are under stock settings. There are various tools available to increase the hash rate of your graphics card. One way to increase the hash rate is to overclock it. It is very safe to do so if you do it rightly.
To get the best possible hash rate from your graphics card/s, you must select the best Ethereum Classic miner software. Select one that is optimized for mining Ethereum Classic. These are some of the best Ethereum classic miner software available today:
It is equally important to choose the right pool to mine Ethereum classic. If you are solo mining, pools aren’t important. For small-scale miners, selecting the right pool is very important. Usually, the best pool is the one that owns the majority of hash power. The biggest pool can offer you constant payouts and withdrawals. You can find the best Ethereum classic mining pool here.
How to mine Ethereum Classic (ETC) without Hardware
If you do not have the technical skills to set up a mining rig or your budget is too low, there are still ways to mine Ethereum classic. Cloud mining Ethereum is the way to do it. Cloud mining is where you rent someone’s mining equipment to mine Ethereum. You pay a small fee in return.
Major players in the cloud mining business make it extremely easy for anyone to buy a cloud mining contract from them. You do not have the frustration of setting up and maintaining your mining setup. Cloud mining starts automatically when you pay your invoice. Here are some of the best cloud mining services for Ethereum Classic (ETC):
If you arent interested in mining or cloud mining Ethereum Classic, you can always buy Ethereum classic from an exchange. Here are some of the best services to buy Ethereum Classic:
How to calculate Estimate Etheum Classic (ETC) mining Profit
To calculate the estimated Ethereum Classic profit, all you need is the hash rate of your mining setup, the total power consumption, the cost of electricity, the amount you spent on mining component/s, and pool fees. If you do not know how to find this information, check here.
Once you know this information, use an Ethereum classic mining calculator. Enter your details and calculate the estimated profit.
Ethereum Classic (ETC) can be mined with an ASIC or graphics card/s. The best Ethereum mining hardware is the one that makes the most money given the budget. Always calculate the estimated profit before you make a buying decision.