Hidden mining profits nobody is talking about
Ethereum mining recently has been very interesting. And there is hidden mining profits that nobody have been talking about. What i mean by nobody is that some of the mining calculators will show you different/incorrect current Ethereum mining profitability.
First off all you need to understand how Blockchains work , so for example Ethereum you have the block rewards which is currently 2 ETH paid out to mining pool who finds the block averaging 15sec a block (13500 ETH/24h)
Then there is transaction fees, to process transaction on Ethereum you have to pay GAS fee which is calculated in Ether . All these transaction fees are paid out to mining pool who has found the block and recorded all these transactions on this block. These transaction fees currently is over 5000ETH/24h .
The fees are at the highest they have been, since May up-till now they are higher then total bitcoin fees.
So this is where the hidden ETH mining profits are coming from. To test this out i have tested 11xRX5700 gpu Ethereum mining rig for 24h mining on hiveos ethereum mining pool.
Conclusion is that check multiple mining calculators to get the most accurate result . Like cryptocompare mining calculator does not have latest data from transaction fees, whattomine showing accurate results for me. Or the best solution test yourself, pools sometimes also could affect your payot amount, depending on size of the pool and payment structure.
Which mining pool do you get the best results?