How Wij Mined More Than 100, 000 Dogecoins ter One Week

Spil bitcoin mining increasingly becomes more of a professional pursuit, hobbyists and newcomers have turned their attention to scrypt mining.

So, at CoinDesk, wij wondered, ‘why not attempt scrypt mining ourselves?’

Witness the movie to see how well wij fared:

Wij got our forearms on a Gridseed G-Blade miner, one of the very first scrypt miners ter the market to use ASIC chips. ASIC chips have bot used to mine bitcoin for overheen a year, now they are making their way into scrypt mining.

That’s making scrypt even more attractive to rookies.

MinerEU is the European distributor for the China-based manufacturer Gridseed. CEO and co-founder Jing Weiland explains why it is lighter to get into ASIC scrypt mining:

“The clear advantage of scrypt ASIC mining is lower power consumption. It’s scalable: you can even set up a mining farm at huis. It’s also very effortless to set it up. Wij have streamlined the process. [. ] Te a few minutes you can connect all the parts together.”

It is lighter and swifter to make money from altcoins rather than investing te expensive and industrial bitcoin mining equipment. Mining equipment manufacturers have already announced refined scrypt-mining equipment.

While Gridseed G-Blade is one of the very first to be launched on the market, KnCMiner has already announced their plans to launch their scrypt miner Titan.

Mining Adventures at CoinDesk

Each Gridseed G-Blade miner has two boards with 40 GC335 ASIC chips on each one. This $1,600 miner promises a total hashrate of Five.2M.

Wij brought two of the two-blade miners into the office. Including installing the relevant software, it took us about an hour to set them up. But, now that wij’ve done it once, next time would certainly be quicker.

Depending on what you determine to mine, the comeback on investment of thesis miners is three to six months. Wij determined to mine dogecoin and managed 100,000 doge with two miners ter a week.

That’s not a bad embark to our scrypt mining career, but it’s certainly possible to improve on the ROI by using the multipool.

“Ter theory the clever switching technology should give you a higher comeback that mining one type of alternative coin, but the problem with that is the switching process. If wij switch it overheen from one coin to another, the calculation power will be lost during the transition.”

While wij’ve parted with the miners, wij’re still working out what to do with our $58 worth of dogecoin – suggestions welcome ter the comments below.

The leader ter blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a stringent set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests ter cryptocurrencies and blockchain startups.

Related movie: How to do Mining ONECOIN

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