Nicehash Miner - Profitability - A rollercoaster
Are you using Nicehash? Do you feel your Nicehash profitability is coming down? Are you not sure what is happening around? ... well, I can't assure you how soon this will go up? But it's not just you, we are all in the same boat.
I had been mining using Nicehash for about more than a month now and I felt, the profitability of Nicehash kept coming down. When I started it all, in Jan 2018, I had about 0.5 mBTC /day which was pretty good. But as things moved on to Feb 2018, I did see the profitability slipping down. One fine day, it was 0.33 mBTC which is about 30% less than my normal profitability.
I was surprised to see Nicehash mining letting me down though the price of BTC was soaring pretty well. For those, who are new to Nicehash, Nice hash is
Place where you buy hashrates using BTC and put them to mine and maybe mine any coin using any available algorithm for a given price for a stipulated time
It is also a place where you can sell your GPU's mining power to the website and they harness your GPUs to mine based on whatever their built-in algorithm feels is profitable and give you the rewards in BTC.
First thing is first, there are a few people who believe, we mine BTC using Nicehash which is totally a misconception.
I got very curious and annoyed, so I decided to check with Nicehash myself and this is what I did.
And this is what they had to say,
To cut the long story short, it is understood that, the spike of BTC is not directly going to help using Nicehash, however it's alt coins that require various other algos, that should get pumped up too. Unless the there are buyers that want to buy hashpower, we can't sell them for better costs.
Just to get an idea, you might want to take a look at the live market.
https://www.nicehash.com/marketplace or if you'd want to know the average payout for different algorithms for different time periods, visit https://www.nicehash.com/algorithm
Lets hope the hay days of Nicehash come back very soon, clearly Nicehash is a boon for people that are new to mining and also if they don't have much time to invest and want quicker payouts.
Happy mining !!! Cheers !!!!
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