As I have previously stated in earlier articles, Ethereum is moving from Proof of work to Proof of stake rendering it no longer minable. At the time of post, we are about 85 days away from the merge.
So, I have two choices, sell all my equipment for discounted prices as the market is currently flooded. The next thing I can do is find another coin that is compatible with my equipment. The choice to keep the equipment was quite a simple one. Since mining was my first introduction to crypto currency, I didn’t know anything but Ethereum. When I purchased my first rig, I asked the guy that sold me the rig if he mined anything else and he said that he was mining ravencoin, so I have always had this in the back of my mind ever since I have been mining Ethereum.
Ravencoin is a proof of work crypto currency, RVN was launched in January 2018 with the focus on building open-source technology and having a strong and growing community. To avoid this asset being centralized the code is build ASIC resistant. RVN coin is currently priced .02 USD per RVN. RVN coin is attempting to implement simple issuance and management of tradable assets on the blockchain.
Currently with my operations I have four rigs mining Ethereum and four rigs mining ravencoin. I’m hoping that the move before the merge will allow me to monitor profits before all the hashrate moves after the merge. Once the merge is complete, we will see if RVN is still profitable mining as most of Ethereum hashrate will go across the top POW coins which if too many people go to one it will render it not profitable because you cut of the pie doesn’t make for the power costs of the equipment. In terms of profit, we can see a decrease of $3 USD per day moving to RVN coin. I’m trying to get ahead of the curve, so stay tuned if you want to see how my mining investment makes out. For links to my mining dashboards visit the home page.