Ethereum mining profitability decrease

The difficulty is nothing more than the total hashrate of the network divided by the number of miners that are mining on that same network . The more miners there are with more GPUs and ASICs the more the hashrate of the network will go up, and our gains will slowly go down.

What affects Ethereum mining profits? Ethereum network difficulty : the higher the difficulty (that is, the competition with other miners), the worse. Ethereum blockchain load: the more contracts and transactions are executed in the ETH network, the better.

Bitcoin is still the most profitable coin to mine with an ASIC, but not GPU . Bitcoin GPU mining is not profitable currently even with a mining pool. But you can mine with pools that allow you to contribute the hash rate to mine other crypto and get rewarded in Bitcoin.

If buyers demand more hashing power, the profitability will go up. If there are fewer (or smaller) orders on the marketplace the profitability goes down. You, as a seller (miner) of hashing power, fulfil the buyer’s order for hashing power – it’s a very dynamic supply and demand relationship.