Last time, we looked at how profitable the Antminer S9 14TH was in South Africa, while mining Bitcoins. This brings us to another interesting question, whether you should mine Bitcoins or Ethereum in South Africa.
Firstly, a caveat. You can not use an Antminer or ASIC Hardware to mine Ethereum. This is good in a way, since such equipment tends to be more expensive.
Ethereum is a lesser known cryptocurrency, which is not as popular as Bitcoins. However, since it is a newer and less mined currency, it is also much easier to mine, and can deliver a potentially larger profit. The value of Ethereum has also grown much faster than that of Bitcoins in the past year, and it will continue to rise even faster, perhaps one day even overtaking Bitcoins
Biostar TB-250 is the motherboard we will use for this experiment, along with 6 4GB Radeon Cards. This equipment will cost around 20000 Rand to setup, assuming you have a working PC already. The rig’s consumption will be around 1030W. The hashrate of our graphic cards will be around 148MH/s, much lower than that of the Antminer, but as we shall see, Ethereum’s also far, far more easier to mine. In fact, if the Antminer could mine for Ethereum, it would be earning millions per day, that’s how easy it is to mine.
With this hashrate, we could expect a monthly return of around 0.83 Ethereum coins, which might not seem like a lot, but this corresponds to 7,100 Rand currently. Assuming electricity payment of around a 1000 Rands, and you’re looking at 6000 Rands of profit per month, and a return on your investment within 5 months.
Again, this is assuming stagnant rates, which is a pessimistic overview of the matter, if you assume rates rise, you’re looking at breaking even in less than 5 months.
This is a far better investment than Bitcoins for South Africans for that reasons and it’s why so many South Africans seem to be turning to Ethereum in recent days
Both Bitcoin mining and Ethereum can be profitable. Bitcoins are more reliable, in that they’re less volatile, while Ethereum can be a bit more up and down. However, Ethereum mining is cheaper, and is more likely to lead to a profit. Whichever way you go with this, you can go wrong with mining. South Africans have not yet turned to mining, like other countries have, but the potential is there to earn a fair bit of money, especially with the comparatively lowe