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?

Here is the ling to excel spreadsheet numbers : https://docs.google.com/spreadsheets/d/1LRkuwtx2g7WkgelB64TC5MlzQlaACtLhCPZvpIHrRQI/edit#gid=0
One more link from RedPanda mining with more benchmark testing : https://docs.google.com/spreadsheets/d/1_d-BzXjpIUS8zUoQrxGQW90v-zCap7VKMfpZ4sQ2Gqg/edit#gid=0

Video :

So the test bench i have :

• 12xGPU all in one case 
• 12x RX5700 MSI 8gb graphic cards
• 2300w power supply

Best Results for mining Ethereum  got from this setup with 100 accepted shares:

• 640 mh/s
• 1770 watts

There is settings to add in Phoenix ethereum miner :

• -openclLocalWork 128
• -openclGlobalMultiplier 4096

By adding these 2 values to configuration you would be available to reach up to 70mh/s per GPU but with 30-50% invalid shares. Tried to change OC on graphic cards but that does not help.

Video :

There will be changed prof of work mining algorithm, to something called RandomX. Current data shows that it will be the most efficient to mine with CPU. AMD latest generation CPUs should be most efficient. Few weeks ago we where testing out most of the Intel CPU, you can read about it here.

After getting our hands on Ryzen 9 3900x and Ryzen 7 3800x , we can approve that it is true. AMD Ryzen series CPUs outperforms Intel i series CPU by a mile mining RandomX.

Test bench setup :

• Ryzen 9 3900x with stock air cooler
• 2x Gskill 3000 16gb C15 RAM modules
• MSI B450 Tomahawk MAX motherboard
• 1xRX5700 for image
• Superflower 750w GOLD powersupply

As there are few of the coins switched to RandomX mining algorithm already and one of them is Loki. So on stock settings everything out of the box we where hashing Loki at 11500 h/s. Which is about 5x then in our previous best tests with Intel i7 8700k out of the box 2360 h/s. Power usage from wall is 260w.

So we tried to push little more speed on the Ryzen 9 CPU , by overclocking it in motherboard BIOS. Changes done :

• OC Explore mode to expert
• CPU OC ratio to 4100 mhz
• A-XMP to enabled
• Precision Boost Overdrive to disabled
• Play with DRAM timings (lower the values)
• CPU core voltage to 1.250v
• Increased Dram voltage 1.300v

This setting got me up to 12650 h/s mining RandomX. I was playing around with different kind of ram stick , and seen significant mining performance decrease with lower performance ram. So i have on the way 4x3600mhz 8gb stick and will do a proper performance test when they arrive.

So the 12650 h/s if you would be available mine monero today would be 3.5 usd , even that it got 10% price drop today. But you know it is not the case, impossible to predict what kind of total network hashrate will be when Randomx launches. As the total network mining structure will change and the current hardware will be unprofitable. Current Monero network hashrate is around 300 mh/s.

Profitability with Ryzen 9 mining Loki which is also RandomX mining algorithm. Daily profitability is 0.70usd

Im eager to see what RandomX mining will bring to Monero mining. What is your thoughts?

Useful benchmark link : https://randomx.monerobenchmarks.info/