The best crypto to mine depends on your hardware, electricity, and goals; compare profitability with tools like WhatToMine and NiceHash, pick ASIC coins if you have ASICs, or GPU-friendly coins if you run GPUs, then model ROI before buying gear. whattomine.com
Introduction
Looking for the best crypto to mine is a smart first step before spending on hardware or power. This article is informational and practical, showing how to evaluate coins by profitability, required equipment, and risks. I’ll walk you through core concepts like ASIC versus GPU mining, how to use profitability calculators, a step-by-step setup and testing workflow, recommended tools, and a compliance checklist. I’ll also share a short, copy-pasteable script to estimate revenue using live prices. In my experience, testing assumptions with a calculator and a small pilot avoids expensive mistakes and speeds up breakeven.
What mining is and why “best crypto to mine” matters
Mining secures Proof-of-Work blockchains, validating transactions while earning block rewards and fees. The phrase best crypto to mine means the coin that produces the best net return for your specific setup and electricity cost, not a single universal answer. Factors that determine that answer include algorithm, network difficulty, block reward, coin price, hardware hashrate, and power consumption. Tools like WhatToMine and NiceHash help compare coins for your hardware by combining these variables into revenue estimates. whattomine.com
ASIC vs GPU vs CPU mining
- ASICs are purpose-built devices with very high efficiency for one algorithm, making them ideal for certain coins like Bitcoin, but they are expensive and not flexible. Investopedia
- GPUs are versatile, can mine many algorithms, and are favored for altcoins when ASICs are not available. GPU profitability varies with model, algorithm, and energy cost. whattomine.com
- CPUs are now niche, used mainly for ASIC-resistant coins or research, not large-scale profit. Use profitability tools to check real returns. whattomine.com
How to decide the best crypto to mine, step-by-step
Follow this practical workflow to pick and test a coin.
- Define your constraint set
- Decide your budget, electricity price per kWh, available hardware, and risk tolerance. Mining profitability is highly sensitive to power cost.
- Select candidate coins
- Use a profitability calculator to generate a short list of coins that match your hardware (ASIC or GPU). WhatToMine and NiceHash are standard starting points. whattomine.com
- Estimate revenue and cost
- Plug your hash rates and power draw into calculators to compare gross revenue, then subtract electricity and pool fees for net profit.
- Model breakeven
- Estimate how long it takes to recover hardware cost (breakeven), accounting for coin price volatility and increasing difficulty.
- Prototype with a pilot
- Run one rig for 1–2 weeks, track real yields and power usage, compare to calculator estimates, refine your model.
- Plan scale and exit
- If profitable, scale cautiously. Have a plan to sell mined coins, convert to fiat, or hold, and know your tax responsibilities.
Quick profitability script (Python)
# python
# Estimate daily mining profit using user hashrate, power, kWh, and coin price
import requests
def fetch_price_usd(coin_id="bitcoin"):
# minimal error handling
try:
r = requests.get(f"https://api.coingecko.com/api/v3/simple/price", params={"ids": coin_id, "vs_currencies": "usd"}, timeout=10)
r.raise_for_status()
return r.json().get(coin_id, {}).get("usd")
except Exception as e:
print("Price fetch failed", e)
return None
def estimate_profit(hashrate_hash_s, revenue_per_hash, power_w, kwh_cost):
# revenue_per_hash is coin reward per hash per day estimate, from calculators
daily_revenue_usd = hashrate_hash_s * revenue_per_hash
daily_power_cost = (power_w * 24 / 1000) * kwh_cost
return daily_revenue_usd - daily_power_cost
# Example usage
price = fetch_price_usd("bitcoin") # replace coin id
print("Price USD", price)
Explanation: This shows a pattern to combine live price data with external revenue-per-hash estimates from a mining calculator. Replace revenue_per_hash with values from WhatToMine or NiceHash for accurate estimates. Use CoinGecko API for prices. docs.coingecko.com
Best practices, tools and resource picks
Use reproducible tools, track metrics, and choose hardware suited to the coin you want to mine.
Practical tips
- Measure power draw precisely, it often makes or breaks profitability.
- Factor pool fees and payout thresholds into net calculations.
- Prefer reputable pools for consistent payouts and transparent fees.
- Consider resale value of hardware when planning ROI.
Recommended tools, pros and cons, install tip
WhatToMine, profitability calculator — Pros: extensive list of altcoins and GPU/ASIC scenarios. Cons: estimates can vary, you must input accurate hashrates and costs. Tip: use WhatToMine to shortlist coins by your exact GPU model. whattomine.com
NiceHash, marketplace and payrate tool — Pros: lets you sell hashpower and gives quick payrate estimates, useful for casual miners. Cons: fees and market payrates vary, may not match solo mining. Tip: test NiceHash payrates to decide between selling hashpower or mining a specific coin. NiceHash
CoinGecko / CoinMarketCap, price APIs — Pros: reliable price feeds for revenue conversion. Cons: rate limits on free tiers. Tip: use CoinGecko’s simple price endpoint for quick price checks in scripts. docs.coingecko.com
Which coins typically show up as the best crypto to mine
There is no permanent answer, but patterns exist:
- Bitcoin: best for ASIC operators with cheap power, not for GPUs. ASICs dominate SHA-256. Use ASIC profitability tools and consider large capital and facility costs. Investopedia
- GPU-friendly altcoins: these can be profitable for GPU rigs when difficulty and price align, examples vary and change rapidly; always check WhatToMine for current leaders. whattomine.com
- ASIC-targeted altcoins: some coins are better for ASIC miners; research the specific miner models and network difficulty before buying hardware. whattomine.com
Remember: coin rankings and profitability shift with price, difficulty, and new miner releases. Use calculators for current signals, and validate with a pilot rig.
Challenges, legal and ethical considerations, troubleshooting
Mining has operational, regulatory, and environmental risks. Plan for them.
Major challenges
- Electricity cost variability, a small kWh difference can flip profitability.
- Hardware availability and upfront cost, ASICs can be expensive and have long lead times. TechRadar
- Volatility and mining difficulty, both can reduce returns.
- Regulatory issues, some regions restrict or tax mining activities.
Compliance checklist
- Confirm local regulations and whether mining requires business registration.
- Track mined income for tax reporting and maintain clear records.
- Secure equipment and consider environmental impact and energy sourcing.
- Ensure insurance or contingency plans for hardware failures or theft.
Troubleshooting quick fixes
- Verify miner drivers and firmware are up to date.
- Check pool status and payout thresholds if you see missing payouts.
- Use SMART tests and monitoring tools to anticipate failing drives in rigs used for storage as mining adjuncts.
Profitability calculators are estimations; real-world results will vary with hardware, uptime, and market moves, so validate with a live pilot. (WhatToMine) whattomine.com
ASICs outperform general-purpose hardware for supported algorithms, but they require larger capital and operational planning. (Investopedia) Investopedia
Conclusion and call to action
The best crypto to mine for you depends on hardware, electricity cost, and tolerance for volatility. Start by shortlisting coins with WhatToMine or NiceHash, model ROI, run a small pilot, and scale only after you confirm real yields. Key takeaways: measure power accurately, use calculators but verify with pilots, match hardware to algorithm. If you want help building profitability models, automating price feeds, or planning a small mining deployment, Alamcer provides practical guides, scripts, and consulting to get you started.
Welcome to Alamcer, a tech-focused platform created to share practical knowledge, free resources, and bot templates. Our goal is to make technology simple, accessible, and useful for everyone. We provide free knowledge articles and guides in technology, offer ready-to-use bot templates for automation and productivity, and deliver insights to help developers, freelancers, and businesses. For hands-on help with mining calculators, scripts, or setting up a small pilot, contact Alamcer and we’ll help you plan and test your strategy.
External resources
- WhatToMine, mining profit calculators for GPUs and ASICs. whattomine.com
- NiceHash profitability and payrate tools. NiceHash
- CoinGecko API documentation for live price feeds. docs.coingecko.com
- Beginner guide to Bitcoin mining, technical overview and caveats. Investopedia
Bold takeaways:
Start with calculators, verify with a pilot., Match hardware to coin algorithm, ASICs for SHA-256., Track power costs closely, they determine profit.
FAQs
best crypto to mine
The best crypto to mine depends on your hardware and electricity. Use a profitability calculator like WhatToMine or NiceHash, enter your hashrate and kWh, then compare coins and pool fees to find what’s profitable for you. whattomine.com
Is Bitcoin still the best crypto to mine?
Bitcoin remains dominant for ASIC operations but not for GPU miners. Its profitability depends on ASIC efficiency, electricity cost, and difficulty, so it is best for large-scale, low-cost operations. Investopedia
Can I mine profitably with GPUs?
Yes, GPUs can be profitable on certain altcoins if power costs are low and the coin price and difficulty are favorable. Check WhatToMine for GPU-specific leaderboards and run a pilot. whattomine.com
What tools calculate mining profitability?
Popular tools include WhatToMine for detailed per-GPU and per-ASIC estimates, NiceHash payrate calculator for selling hashpower, and CoinGecko or CoinMarketCap for price feeds. whattomine.com
How do I calculate my breakeven point?
Estimate total hardware and setup cost, subtract daily net profit (revenue minus power and fees), then divide cost by daily net profit to get breakeven days. Always account for volatility and changing difficulty.
Are ASICs better than GPUs?
ASICs are more efficient for specific algorithms and often more profitable if you can amortize high upfront cost and have low power prices. GPUs are flexible but generally less efficient on ASIC-targeted coins. Investopedia
How much does electricity affect profit?
Electricity is usually the largest recurring cost. Small differences in $/kWh often decide whether a rig is profitable or not, so measure and include it in all calculations.
Is mining legal everywhere?
Regulations vary, some jurisdictions restrict or ban mining, others tax mined income. Check local regulations and follow KYC, reporting, and energy rules where applicable.
How often should I re-evaluate what to mine?
Re-evaluate weekly or when coin prices or difficulty shift materially, and after major hardware or firmware changes. Use automated scripts to refresh price and profitability inputs.
When should I consult a professional?
Consult a tax advisor for reporting mined income, and legal counsel for large operations or cross-border setups, as rules differ by jurisdiction.
Compliance & disclaimer
This article is educational and not financial or legal advice. Cryptocurrency mining profitability depends on many variables and may change rapidly. Follow platform Terms of Service and applicable laws including tax and energy regulations in your jurisdiction. For legal, tax, or large-scale operational guidance, consult a qualified professional.
