Yesterday, I bought a Hashlet Prime from GAW Miners. These are their most expensive miners at $49.95 (which I talked about in the Assessing Altcoin Mining Contracts post. This hashlet only mines at 1 Mh/s for Scrypt, just like the Hashlet Solos which cost half the price. But when switched to mine Bitcoin (SHA-256), they will hash at 40 Gh/s. They’re not at that speed yet, but will be ramped up to that rate over time (sooner rather than later).
Why Buy A Hashlet Prime?
As these particular hashlet mining contracts don’t appear to be good value, why buy one? Well, looking long term, these are the hashlets that are supposed to be future proof, so should provide the best return over time. Other things are meant to happen to the Primes in the future (exactly what hasn’t been stated), but I wanted one in my portfolio so I could see first hand whether they’ll ultimately be worth the expense or not.
At the moment, I have it hashing Scrypt at 1 Mh/s Scrypt mining is currently more profitable than 40 Gh/s of SHA-256 (Bitcoin) mining.
How Are My Hashlets Performing?
My portfolio of cryptocurrency mining contracts consists of 11 Mh/s of Scrypt miners. Their combined hashing power averages out at around 11.4 Mh/s but it goes up and down. So I’m getting 3-4% more hashing power from them than I expected.
Total BTC earned (2.5 days worth) is 0.01456904 which at todays USD rate – $472.38 – equates to $6.88.
I’m earning 0.00633452 BTC on average each day (approx $3.00) though the USD value depends on the BTC/USD exchange rate. The maintenance fees have already been deducted from this amount, so it’s pure profit. Here’s a screengrab of my dashboard:
I talked about my investment strategy on I Bought My First AltCoin Mining Contracts – The Hashlets, so profits will be accumulated to buy more hashlets rather than being withdrawn to pay down the cost of buying the altcoin mining contracts.
Tagged with: altcoin mining contracts • ASIC Scrypt miner • Bitcoin • BTC • cryptocurrency • cryptocurrency mining contract • GAW Miners • hashlet mining contract • Hashlet Prime • Hashlet Solo • Hashlets • Scrypt miner • Scrypt Mining • SHA256
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