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Monero (XMR) Has Successfully Switched to RandomX CPU Mining

#crypto #bitcoin

The expected hard fork of Monero (XMR) happened without issues and now the mining part is being done with CPUs (mostly) using the RandomX mining algorithm as opposed to CryptoNight R that was mostly GPU mined prior the fork. Currently the hashrate of the Monero network is around 500 MH/s with XMR drawing a lot of CPU mining resources from other crypto projects that were already unprofitable to mine anyway, so as a direct consequence some of these might become interesting for mining again with the focus on Monero. The big question at the moment is where all the GPU mining power that was focused on Monero will go now as these were mostly AMD mining GPUs, so most likely other CryptoNight-based projects will have to deal with the extra computing power. After checking a few of the more popular CryptoNight-based projects we don’t yet see big jumps in terms of hashrate after the fork of Monero, and that could easily mean that XMR already had a lot of “free” CPU mining going on even on the old CryptoNight R algorithm.

With the current network hashrate of about 500 MH/s the estimated daily coins you can mine with a single AMD Ryzen 5 3600 CPU that has about 6 KH/s of hashrate on stock settings is around 0.019 XMR at the moment or a bit over $1 USD if you exchange it for fiat at the current rate. This is better than we could get with the same CPU mining other RandomX coins yesterday. It is about double than mining LOKI yesterday, which was the most profitable one using the RandomXL algorithm, today however things also look different for LOKI as the mined equivalent is actually more profitable than Monero at $1.28 USD with the current difficulty after the outflow of hashrate to XMR. ArQmA (ARQ) is also up almost double in terms of mined equivalent in USD, and WoWnero doesn’t seem to be much affected in any way, remaining the least attractive of the RandomX crypto pack.



OhNoCrypto

via https://www.ohnocrypto.com

admin, Khareem Sudlow