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Posts Tagged ‘X11 ASIC miner NiceHash’
The iBeLink DM384M X11 ASIC miner is actually advertised as a DASH ASIC miner with DASH (previously known as DarkCoin) being the most popular and widely used X11 altcoin, is also currently rated as number 6 in terms of Market Capitalization. The ASIC miner can be used for any coin using a regular X11 algorithm for mining and in fact mining DASH with it is not the most profitable and anyone who purchases a new ASIC miner know that the first thing he needs to do is to ROI first in the fastest possible way and then can choose what to mine based on subjective preferences for example. So if you just got the 384 MHS X11 ASIC miner iBeLink DM384M you would probably want to head on to NiceHash and sell your hashrate to anyone willing to buy it as it will get you a few times more profit than directly mining for DASH at the moment according to the What to Mine service. The reason is simple, there are many new altcoins popping up all the time that use X11 algorithm and people are renting hashrate to mine them and with the increased demand for hashrate you might earn much more than mining for a more established coin such as DASH.
Here is how the average hashrate looks like when selling your X11 hashrate with the iBeLink DM384M X11 ASIC miner on NiceHash with the graph covering more than half a day. The average hashrate reported poolside is about 392 MHS with an average pay rate of about 0.5 BTC per Gigahash per Day. As mentioned earlier today you should update to cgminer 3.5.6 for the iBeLink machine in order to get the software that supports NiceHash’s extranonce in order to minimize stale shares and maximize profit. If the above trend continues for 24 hours this would mean an actual daily profit for the iBeLin X11 ASIC miner of about 0.2 BTC at the moment and that is pretty good when you are looking to get the fastest ROI time. Have in mind though that the profitability of X11 at NiceHash may vary more that if mining for any given more established X11 crypto currency with a stable exchange rate. There is always the possibility of jumping at the right time to the right new coin and making even better profit thanks to the high hashrate that the ASIC miner provides, but the risk is also higher and you may actually make less in the end this way.
– For more details on how to sell your hashrate using the NiceHash service…