Mining cryptocurrencies in 2024? Here are the 7 Options that Still Generate Profits

Cryptocurrency mining remains profitable in 2024, but only if you choose wisely. It’s not the same to have a Bitcoin ASIC as it is to have an Ethereum Classic GPU. Let’s see what changed after the Bitcoin halving and what your best options are.

First: the costs that matter

Before choosing what to mine, you need to be honest about three numbers:

• Electricity cost: Without cheap electricity, forget about Bitcoin. In regions where the kWh exceeds $0.10, most small miners lose money.
• Your hardware: An S21 Pro ASIC costs thousands of dollars. A decent GPU costs much less. The efficiency of the equipment determines whether you profit or go bankrupt.
• Current difficulty: The more miners, the harder it gets. Bitcoin reached record difficulties after the April 2024 halving.

The 7 coins that still make sense

Bitcoin (BTC) — Reward: 3.125 BTC per block
It’s king, but now it’s a game for large operations. Without access to cheap energy or if you have old hardware, it’s better to look elsewhere.

Ethereum Classic (ETC) — Reward: 2.56 ETC per block
Miners who abandoned Ethereum when it switched to PoS migrated here. If you already have GPUs set up, ETC remains viable.

Litecoin (LTC) — Reward: 12.5 LTC per block
More accessible than Bitcoin. Its Scrypt algorithm doesn’t require powerful hardware, making it attractive for medium-sized miners.

Monero (XMR) — Reward: approximately 0.6 XMR per block (adjustable)
Here’s the plot twist: Monero is ASIC-resistant. You can mine it with your CPU or a regular GPU. Perfect if you don’t want to invest a fortune in equipment.

Ravencoin (RVN) — Reward: 2,500 RVN per block
KAWPOW algorithm resistant to ASIC. Growing community. If you’re looking to diversify with GPU, RVN has potential.

Dash (DASH) — Reward: 2.31 DASH per block
Its X11 algorithm consumes less energy than Bitcoin’s SHA-256 (Bitcoin). In areas with expensive electricity, this makes the difference between profit and loss.

Dogecoin (DOGE) — Reward: 10,000 DOGE per block
Uses the same algorithm as Litecoin. If you’re already mining LTC, adding DOGE is almost free. Its community provides stability and utility.

Is mining worth it in 2024? The honest answer

It totally depends on your situation:

• If you have cheap electricity (< $0.05/kWh): Bitcoin and Litecoin are still options.
• If you have GPU: Ethereum Classic, Ravencoin, and Monero are your best bets.
• If you want to invest little: Monero with CPU is the most accessible.
• If you’re in a high-cost energy zone: Dash or efficient coins are better than Bitcoin.

The key: calculate your ROI before you start. The crypto market is volatile; what is profitable today might not be in three months. Mine responsibly.