Genesis Mining: Ethereum vs. Ethereum Classic – which is more profitable?

I recently branched out to mining Ethereum Classic as well, and thought I’d run an analysis on which one is more profitable right now. These numbers are based on real data received from Genesis Mining.

TEST SETUP

Ethereum hashpower 55.52MH/s

Ethereum Classic hashpower 13.88MH/s

 

RESULTS

Ethereum yield per MH/s: 0.00048193858

Ethereum daily income per MH/s: $0.178

Ethereum Classic yield per MH/s: 0.008468937

Ethereum Classic daily income per MH/s: $0.193

 

The conclusion: if you only look at today’s cryptocurrency values and mining difficulty, ETC is the winner. However, the price predictions for ETH are more positive than for Classic, and with the looming Proof of Stake update, ETC’s fate is still unclear. It really depends on preference; if you want a higher yield (more coins), ETC might be a better choice.

I will keep mining both to spread the investment, but focus will be on ETH at least for the time being.

USEFUL LINKS:

How to mine Ethereum with Genesis Mining

CoinWarz mining difficulty rankings

 

Early days

A little bit about myself: I’m a 33-year old Finnish startup entrepreneur / nomad / former IT manager. I turned my life around five years ago when I quit my job and joined the then-booming digital nomad movement, and spent several years living abroad in Southeast Europe, Asia, North America and Australia. I’ve settled to the APAC region for now.

I only got into cryptocurrency investing fairly recently, while living in Chiang Mai. Since then, I’ve invested mainly in Bitcoin and Ether, and am a huge fan of passive income, which fits well into this scenario.

This blog’s purpose is two-fold. Mainly, it will be a vessel for my ravings and observations of the cryptocurrency investing field, from a beginner’s viewpoint. I will also be tracking the results of my investments transparently. Unless anything drastic happens, the results will be updated weekly.

Main methods for this experiment will be Genesis Mining and direct investment (buying and holding the currency).