The Merge of the ETH network has caused a ripple (no pun intended) across various industries, which critically impacts the crypto mining industry. Until 15th September 2022, the virtual digital asset or ETH crypto was the top POW crypto to mine compared to others.
However, the crypto mining profitability of Ether (ETH) was zeroed by the merge when its network moved to a beacon chain running a Proof of Service (PoS) consensus mechanism. So, who is left now in the Crypto Market that runs a Proof of Work Consensus mechanism and rewards the global crypto miners?
Top POW Crypto Mining in 2022-23!
After the Ether (ERC-20) tokens are dethroned as the most rewarding Proof-of-Work cryptos to mine, plenty of other cryptos are challenging the crown! Read up to check out who will take the number one top POW Crypto tokens after the ETH merge!
Note: The Estimations provided below are calculated per a 1000W configuration with RTX 3080Ti at 100TH/s, costing 0.01 USD/kWh. The actual results may vary depending on system and network conditions.
1. Raven Coin (RVN)
The prime crypto to benefit from the Ethereum merge is the Raven Coin token (RVN). Despite its low price, several reasons make it the leading choice for many crypto miners. For instance, an RVN holder can purchase multiple items such as gold, shares of stock, virtual goods, rewards, etc.
Still, it’s worth noting that one cannot exchange it on Coinbase, one of the global currency exchange platforms.
- EST Reward → 20,180.71 RVN
- EST Daily → 878.86 USD
- EST Cost → -2.40 USD
- EST. Profit → 876.46 USD
2. Ethereum Classic (ETC)
The original Ethereum Token, i.e., Ethereum Classic (ETC) that was forked (2016) to create the Ether (ETH), will continue to be a Proof-of-Work token. Regarding its use cases, several crypto exchanges accept and trade it, besides crypto cards supporting it.
Although the cost-to-mining ratio of ETC tokens is lower than a dollar, it’s still easily a lucrative token to mine. Moreover, Bitmain-backed Antpool recently invested $10 M into ETC for funding quality project development for the ETC blockchain.
- EST Reward → 8.26910 ETC
- EST Daily → 253.67 USD
- EST Cost → -2.40 USD
- EST. Profit → 251.27 USD
3. Grin Coin (GRIN)
The current token is a hard miss for most crypto enthusiasts because of its novelty or lack of mainstream social presence. However, mining the Proof of Work GRIN coins has skyrocketed after the ETH mining GPUs require a rewarding Crypto that offers some vital benefit.
The main driving force behind the rise of GRIN coins is its offering to support electronic transactions without censorship and restrictions. In other words, it functions as a solution to the privacy and scalability issues the popular Bitcoin faces. It’s also listed on some well-known crypto exchanges despite having an ASIC-resistant mining process.
- EST Reward → 796,104 GRIN
- EST Daily → 49061.11 USD
- EST Cost → -2.40 USD
- EST. Profit → 49,058.71 USD
4. Ethereum POW (ETHW)
One of the lesser known forks of the Ethereum chain is the Ethereum POW, which by the affirmation of the foundation, exists as a PoW token. While the Ether chain (ETH) has successfully completed its merge, the ETHW tokens are still worth plenty, seeing as one can still trade them for NFTs, DeFi contracts, etc.
Q.E.D. mining ETHW is feasible for those that don’t want to switch to ETC mining while continuing to mine crypto via the Ethereum Proof of Work mechanism.
- EST Reward → 71.186 ETHW
- EST Daily → 387.31 USD
- EST Cost → -2.40 USD
- EST. Profit → 384.91 USD
5. Bitcoin (BTC)
The big brother of the crypto, Bitcoin, continues to be a useful commodity to mine despite its 2022 crypto winter rates. Several crypto holders of the BTC tokens see it in a bullish light. Whether it’s correct or not, BTC is currently the most prized cryptocurrency with innumerable uses.
- EST Reward → 0.00039 BTC
- EST Daily → 7.60 USD
- EST Cost → -2.40 USD
- EST. Profit → 5.20 USD
6. Ergo (ERG)
The Ergo coins have been a public offering since day one by the Ergo Platform, without any initial coin offerings or pre-mine pre-allocation of any sort. The Ergo platform, launched in 2019, functions to make smart contracts creation and deployment accessible, besides supporting thousands of DApps.
Its roadmap sees it develop into a whole ecosystem, which could possibly parallel Solana if not for environmental concerns. Still, running on the Cardano blockchain and offering cross-chain exchanges or transactions is pretty neat for a project of its scale.
- EST Reward → 19.1351 ERG
- EST Daily → 63.51 USD
- EST Cost → -2.40 USD
- EST. Profit → 61.110 USD
Also Read: Crypto Mortgage: Buy a House with Crypto & NFTs!
5 Top POW Crypto Mining Advantages!
Getting rewarded for validating transactions on the blockchain is sweet, but does anyone offer any other benefits? Do the cryptos that one can mine in the Proof-of-Work system have to use cases beyond P2P transactions – Find out!
1. Create Profits
The top benefit of mining crypto on blockchains running a Proof of Work system is earning tokens by validating blocks. Depending on how small or large the crypto mining equipment one may possess, the capacity to make BIG money in every sense of the word is truly plausible. However, it does come with environmental concerns and national mining regulations, so beware!
2. Staking Crypto
Another best way to make extra money on top of BIG money is to stake the mined crypto. In this manner, the stakeholder earns more tokens while churning more tokens from mining and putting them into the staking pool.
It’s the perfect system, yes? No. It’s not as simple because one must be cautious of the platform on which the cryptos are staked. Otherwise, a scam is inevitable.
3. No-Counterfeits
The money made by mining crypto needs a crypto exchange that offers fiat money against trading crypto. By performing crypto mining, two things are ardent: the miner earns a non-counterfeit financial advantage, and it cannot be stolen unless precautions are maintained.
Since cryptos aren’t centrally regulated, nobody can take them away, and nobody can replicate them to lower their value.
4. Global Exchange
Any top POW crypto that is mined, for example, is convertible to any other cryptocurrency or fiat money at any time. It allows for decentralized financial security that both fiat money and precious metals cannot parallel.
A Proof of Work mined cryptocurrency with value can be exchanged for rewards too, whose payments are currently recognized and accessed across several countries worldwide.
5. Secure & Decentralized
As mentioned previously, nobody can govern or print the crypto at their behest. The total cryptos are either locked or transparently trackable and accessible via supported respective crypto wallets. Such a system makes it viable for owners to make expenses using their crypto while keeping their credit records clean.
Although crypto coins are not yet a globally recognized means of payment against transactions, their use cases and recognition as a financial instrument are growing by the month.
Final Words
Whether or not you hope to purchase NFTs, more crypto tokens, real estate, or any other commodity for that matter, mining crypto is still profitable in 2022. As for the environmental concerns, there exist particular nations that have not banned crypto mining while others strictly do.
So, make the most of your used ETH mining GPUs to mine these Top POW Crypto coins and tokens while you can!