What's a Good Mining Speed?
When you are mining cryptocurrency for profit, one of the most important metrics is your mining speed. This is used to determine the profitability of a particular device mining cryptocurrency.
We will discuss a number of factors to consider when it comes to mining speed, and provide you with an the information you need to understand your device's capability for mining cryptocurrency. Take a look at these common questions about mining speed found below.
How is Mining Speed Calculated?
When mining for cryptocurrency, a device is performing calculations necessary to verify and validate transactions of the cryptocurrency network. The number of calculations per second is used to determine your mining speed, and is measured in hashes per second.
When you have a higher hash speed your device will be more profitable because it is able to contribute more solutions in a shorter period of time, increasing the value of mining rewards as well as their frequency.
A good hash speed should be the goal for any cryptocurrency miner, and to achieve this, miners will often use the latest hardware available for gaming purposes, or even dedicated machines built for mining specifically.
We allow you to test your hash speed using our cryptocurrency mining speed test in your web browser which will help you to determine your device's mining speed and allow you to use these values in your profitability calculators.
What is considered a good hash speed?
Whether a hashing speed is considered good or not will determine on the cryptocurrency being mined, and hashing algorithm used. As a cryptocurrency increases in popularity, the culminative mining speed of the network increases organically as a result of the uptick in transactions. With more transactions on a network, there are more mining rewards to be distributed which encourages the particular cryptocurrency to be mined.
When the culminative network hashing speed increases, the likelihood of a particular miner or mining pool receiving a reward decreases. Even higher hashing speeds are required so that solutions can be provided competitively and ensure frequent rewards.
Finally, each cryptocurrency algorithm has different performance metrics. While you might get thousands of hashes per second with one cryptocurrency, you may only get several hundred with another. The important aspect to consider is the overall profitability.
Our mining software includes automatic algorithm switching, which constantly keeps track and ensures that your device is working to mine the cryptocurrency. with the highest current profitability.
How to Increase Mining Hash Speed?
Since the hash speed is one of the most important factors for mining cryptocurrency, many miners look to increase their hash speed as high as possible. There are several ways to increase your mining hash speed which are detailed below:
Use Multiple Devices: The most straight forward approach is to setup multiple devices to mine cryptocurrency. Since the limit is placed on the device hardware, this is often an easier approach than changing or upgrades devices entirely.
Upgrade Your Devices: Different hardware architecture are better at mining cryptocurrency. When selecting a new device or upgrading an existing device you can review the latest recommendations for the particular cryptocurrency you want to mine. Remember, some cryptocurrency mining will require a graphic card (GPU) and others a central processing unit (CPU).
Tweak Your Settings: If a device is mining cryptocurrency there are several settings that you will want to review to ensure that your device is mining optimially. You will want to review your devices sleep settings to make sure that it stays active, even while idle. You don't want your miner to go to sleep after only a few hours.
More advanced miners can review their motherboard configurations and bios settings for additional optimizations, or even utilize overclocking to push their hardware even further.
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