Is it profitable to mine Electroneum in 2018? GPU, CPU and mobile phone mining

• Important information
  I have to point out that at this moment the price of ETN has dropped to 0.03 USD (about 0.00000334 BTC) as it follows the overall market trend. So my evaluation is based on the current market price and things may change in the future.

• GPU Nvidia mining, is it profitable?
  For GPU mining, the answer is No. I made the test using xmr-stak-nvidia and explored different pools. I have two Nvidia cards: one gtx 1080Ti Msi gaming X and one gtx 1070Ti Gigabyte Aorus. With the two cards overclocked I pull an average hashrate on the pool webpage about 1600 H/s. Note that the hashrate on the pool webpage and on the software itself are different (the pool webpage calculate the hashrate based on the received and accepted shares whereas the hashrate of the software is directly calculated based on the detected blocks).
  I tested different pools, and in my opinion the best is to use etn.nanopool.org because they have a high pool hashrate. However, one must keep in mind that for this pool no payout before reaching 500 ETN.

Using etn.nanopool.org, I was able to mine about 30 coins per 24 hours. Now this is not profitable for several reasons. With the current price of ETN of about 0.03 USD, my 30 coins worth roughly 1 USD. If I use nicehash with the same configuration, my cards make around 4.5 USD per 24 hours for the current BTC price. So if you are interested about holding ETN, it’s much better to use nicehash to mine BTC and then use what you earned to buy ETN from the market. With what you get from nicehash per 24 hours you can buy 4 times the amount of ETN that you can mine with your hardware.
So it’s definitely not profitable to directly mine ETN.

• CPU mining, is it profitable?
  Again the answer is no. I tested this with my core i7 CPU. I used the official windows application released by Electroneum and pointed out my worker to etn.nanopool.org. It works and I was able to mine some coins but if I mine directly with my CPU on nicehash for 24 hours I can buy more ETN from the market with the BTC I earned on nicehash. So the conclusion, it’s really not interesting to CPU mine ETN. Better to mine another coin or use nicehash to mine BTC and then buy with the earned BTC some ETN from the market.

• Mining ETN with mobile phone
  As you probably know, mining ETN with mobile phone is a new concept released by the Electroneum group. Is it profitable to mine with your phone? Well, you will not become rich but it costs nothing to use your phone over night to mine some coins.

I have been mining using my HTC Ultra since the release of the app on android on the 5th or March 2018. When I click the “start mining” button, my hashrate is about 35 H/s then it drops with time to about 22 H/s. The hashrate is never stable but I never saw it less than 20 H/s. I would say in average it’s about 27 H/s. I keep the app running for like 20 hours per day. Today it’s the 25th of March and I mined about 50 coins. I remarked that at the beginning the app was very slow and I was mining about 1 coin per 12 hours. Then, around the 9th of March, the mining process became much faster and I was able to mine about 10 coins per 20 hours. Three days ago, things become less interesting as the mining speed dropped again to about 2 coins per 12 hours. Well, with the current market price and the amount of coins I was able to mine with my mobile phone, if you do the math you can conclude that I can make around 1.5 USD per month if I keep my phone running 24/hours for the whole month. I would not say if this is profitable or not as using mobile mining is like getting coins for zero effort. The app doesn’t drain your battery (I tested it and there is no much difference in power consumption if whether the app is running or not). My phone never heats up while running the app. So, if you have your phone, just install the app and start mining some coins. There is something important that you need to know. The app has a high consumption of internet. So if you don’t have unlimited internet, I don’t recommend mining outside home. As a conclusion, if you are afraid for your battery, just mine over the night while charging your phone and be sure to use your Wifi.

I hope this post will be useful for some of you. Leave a comment and let me know about your experience in mining ETN (Don't forget to mention your hardware and the pool you used).

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