Ethereum Classic (ETC) is undoubtedly the biggest hit in the cryptocurrency circle recently. From the booming currency price last month, to the continuous absorption of ETH miners now, and the expected launch of Ethereum mainnet 2.0 by the end of the year. A big wave of good news is coming, and the most intuitive manifestation is that in the currency price, Ethereum Classic has surpassed other major cryptocurrencies with an increase of nearly 80% in the past month.
With the bullish market footsteps looming, there is still plenty of room for Ethereum Classic to rise, and now is arguably the best time for miners. Specifically, most of these gains appear to be related to ETH’s imminent move to proof-of-stake, which is expected to attract a large number of ETH miners to ETC.
ETH is widely expected to fully transition to PoS later this year, and initial testing of this transition is already underway. While this move would reduce ETH’s energy costs by nearly 99%, it would also completely negate any incentive to mine.
The lack of incentives for mining is not suitable for users who have built the infrastructure for mining ETH. Given the close relationship between ETC and ETH, it is easy for ETH miners to transition to ETC in order to continue to use mining rig to earn ETC’s rising market returns. This also tends to provide them with better security due to the complex, energy-intensive algorithms that PoW platforms run.
Today, mining is the best way to obtain Ethereum Classic. Mining belongs to the primary market. Now the best way for ordinary retail investors to participate in mining is to use ASIC mining rigs for mining. With the hot market, there is a situation where it is difficult to find a graphics card on the market. Many Ethereum mining machines are about to become futures, and they need to wait for an appointment before they can be purchased. Some leading mining rig companies directly increased the price to a certain extent.
Corresponding to the gradual rise in the price of Ethereum Classic, the price of mining rigs will also continue to double. Therefore, every time the market is hot or cold, mining rig manufacturers are very sensitive. From this point of view, in fact, there is not much time to prepare for the partners who want to enter the ETC mining field. Therefore, the author suggests that miners must choose high-yield mining rigs in the layout.
At present, the most powerful product in terms of profitability and cost-effectiveness on the market is undoubtedly the new product JASMINER launched this month – JASMINER X4-Q, with a hash rate of 1040MH/s±10% and a power consumption of 480W±10%. Currently, X4-Q can produce 0.00080802 ETC per M per day, and when the currency price is $42.80, it can produce about $35.97 per day. When the electricity fee is set at USD 0.047/kWh, the daily electricity consumption of X4-Q is only 11.52 kWh, so the electricity cost per day is USD 0.54. In summary, the daily net profit of mining ETC with JASMINER X4-Q can reach $35.43. This new product also has two biggest features, one is quiet, specially designed noise reduction function, the noise level is ≤40 db, the miner can also be used in the bedroom environment. The other is the standard form of 3U, so that it can be placed at home, IDC room and many professional venues. It can be said that it is very stable and strong in terms of heat dissipation and noise reduction design, as well as “high hash rate and low power consumption”.
All in all, the future of ETC is still promising. The most important reason is that ETC itself, as the intrinsic driver of the original blockchain of Ethereum, has unparalleled advantages and value prospects of many other cryptocurrencies. After the full launch of Ethereum 2.0, the development of ETC will be further accelerated, and the incentive mechanism will enable users to obtain benefits from their long-term holdings of Ethereum Classic. Therefore, ETC will become an important focus of the market in the second half of the year, and both project parties and traders have high expectations for it.
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