How to boost mining revenues with hashrate marketplaces
In the busy crypto mining sector, optimization is critical. With slim profit margins and demand for optimal computing power, all tools for increased results are welcome. As miners try to scrape reasonable profits, they usually turn to traditional mining pools. These pools let miners combine their hashing power and, as a result, provide more frequent rewards compared to solo mining. However, there are more options out there.
Another option miners have is selling their hashing power. Hashing power is the computing power of hardware (ASICs) used to solve different hashing algorithms that some cryptocurrencies are based on. Selling hashing power is possible by selling the hashrate through a marketplace. In this case, the miner’s profits are driven by the buyer's demand instead of the difficulty and coin price.
Hashing power sellers and buyers can meet at a hashrate marketplace to sell or buy hashing power. A buyer buys the hashrate and directs it to a chosen pool. A buyer then receives the cryptocurrency rewards through the chosen pool without owning mining hardware. The owner of the ASICs (miner) selling the hashing power, in turn, gets paid by the buyers for providing this hashing power. The seller is paid in real-time for each and every share sent towards the buyer.
Selling hashrate can be alluring for mining hardware owners, as the buyer pays in Bitcoin (BTC). Hence, the buyer takes the risk of mining or not mining the block. If the buyer manages to solve a block alone, they receive the entire block reward of 6.25 BTC when mining Bitcoin. On the other end, the owner of the mining hardware gets paid the average price of all the orders regardless of whether a block is mined or not. This eliminates the luck factor of mining
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