How GridCoin Mining Profitability Compares to Other CryptoCurrencies (Nvidia GTX GPUs)
Due to the fact that GridCoin mining involves about two dozen whitelisted projects that a miner can choose from, there currently doesn't exist an easy/nifty calculator to provide a potential miner with an easy comparison of GridCoin mining against other types of cryptocurrency.
I'm about to make it pretty easy for you... if you've got Nvidia GTX 1070 and/or Nvidia GTX 1080 graphics cards.
My favorite website to check mining potential is www.WhatToMine.com (check it out).
If I run their mining profitability calculator today, I get the following result for my two GTX 1070's and three GTX 1080's. This represents their estimate for my daily mining revenue and profitability:
As you can see here, it looks like the best I can do currently is the equivalent of about $17/day and that would be if I mined Hush coins. But how can we compare that to GridCoin?
If I browse on over to my GridCoinStats.eu profile page, I get the following information:
My current "Estimated Minted/Day" is 223.57 GRC per day. If I use yesterday's GRC --> USD price of $0.07, that tells me I'm mining about $15.65/Day. So just a slight bit less than tasking my GPUs with some inconsequential hashing for another coin.
A few things to keep in mind, though:
- Notice above that my RAC on BOINC is still growing. Depending on how competition on the projects I'm crunching changes, my magnitude still has room to go higher.
- GridCoin, along with all other CryptoCurrencies in the last week has come down in price a bit. If the price were to bounce back to $0.10 or higher, I would easily be minting GRC each day worth more than $20.
- This is discussing the value of the GRC I'm mining TODAY. Imagine if I hold my coins and GridCoin rises to USD $1.00 in the future. That would mean I'm mining 223 GRC today that would be worth $223 in the future.
This is all speculation, of course. I choose to mine GRC because I can make money while lending my equipment to crunch for legitimate scientific purposes. The fact that the revenue I'm generating is even remotely comparable to mining other CryptoCurrencies is a huge bonus!