In the busy crypto mining sector, optimization is critical. With slim profit margins and demand for optimal computing power, all tools for increased results are welcome. As miners try to scrape reasonable profits, they usually turn to traditional mining pools. These pools let miners combine their hashing power and, as a result, provide more frequent rewards compared to solo mining. However, there are more options out there.
Another option miners have is selling their hashing power. Hashing power is the computing power of hardware used to solve different hashing algorithms that some cryptocurrencies are based on. Selling hashing power is possible by selling the hashrate through a marketplace. In this case, the miner’s profits are driven by the buyer's demand instead of the difficulty and coin price.Hashing power sellers and buyers can meet at a hashrate marketplace to sell or buy hashing power.
Selling hashrate can be alluring for mining hardware owners, as the buyer pays in Bitcoin . Hence, the buyer takes the risk of mining or not mining the block. If the buyer manages to solve a block alone, they receive the entire block reward of 6.25 BTC when mining Bitcoin. On the other end, the owner of the mining hardware gets paid the average price of all the orders regardless of whether a block is mined or not. This eliminates the luck factor of mining pools.
The volume of orders results in steady income for the hardware owner, as the seller’s pay is a combined average of the marketplace orders. These are among the reasons miners may find selling their hashing power an interesting option instead of joining mining pools.helps retail buyers of hashrate to buy hashrate and try solo mining with it. On its platform, NiceHash enables buyers to select the cryptocurrency they would like to mine.