Best Ethereum Pool (2024)

The Ethereum blockchain is a highly functional smart contract platform built to power decentralized apps(dApps). Ether represents the governance token of the Ethereum blockchain and is the reward ascribed to miners who use ETH mining pools to validate transactions on the blockchain while simultaneously preventing hacking and other malicious attacks on the Ethereum network. This article explores what to look for when choosing an ethereum mining pool and the best Ethereum pool for mining. Let's get into it!

What Is An Ethereum Mining Pool?

An Ethereum mining pool is a group of people who work together to mine ethereum. Joining a pool makes it easier to mine an ethereum block successfully and requires less hardware than solo mining, where you require more equipment and more power.

Over time, the computational puzzles that need to be solved before you can validate a block have become increasingly complex and demand more hash power. These demands require more powerful mining rigs, which can be quite costly in terms of equipment and electricity costs.

Hence, more people opt to join the best ETH pool to mine ethereum with other miners as it is easier and less time-consuming. Each miner contributes computational power to mine ether blocks and receives a portion of the reward.

To perform Ethereum pool mining, you need to get the following:

  • An Ethereum GPU mining rig
  • An Ethereum wallet to receive your payouts
  • A mining pool membership

The pool you join determines how profitable your mining will be; we've highlighted the factors to consider when looking out for the best mining pool for Ethereum. Let's dive in!

What to Look Out For When Choosing An ETH Pool?

When considering the best pool to mine ethereum, you want to choose the one that offers the best profits and mining efficiency. Here are some factors to consider:

Mining efficiency

Mining rigs that are closer to mining pool servers work more efficiently than those that are farther away. We recommend you choose a mining pool that's closer to your location.

Hashrate

The most profitable Ethereum mining pool has a high hashrate to match the required computational power for the mining process. The higher the hashrate required to crack a puzzle and mine a block, the more difficult it is and the less the chance of winning. But if your mining pool has a high hashrate, there's more chance of finding blocks and earning a stable payout flow.

Computational power

The best Ethereum mining pools usually consist of a large population of miners, each working to secure a portion of the profits shared. When you join a mining pool, your earning potential depends on the amount of power you provide. The more power you contribute to mine, the more your profit.

Pool fees

We recommend optimizing mining costs by going for the best pool to mine Ethereum, usually offering low pool fees. Mining pools charge fees on every payout to generate income to support the operation of the pool. By choosing a pool with lower fees, you maximize the reward you can earn on such a pool.

Payout models

Mining pools incorporate different payout models to deliver rewards to miners. These payout models influence how your reward is calculated. The most common payout models are the PPS (Pay-Per-Share), PPLNS (Pay-Per-Last N Shares), and PPS+. We'll delve more into this in a different section.

Best Ethereum Pool (1)

Top 5 Best Ethereum Mining Pools

Ethermine

Ethermine is one of the most popular on the Ethereum pools list. It's located across Asia, Europe to the United States. It's a high-performing mining pool with the largest number of miners making up over 20% of the entire ethereum mining network and working with the highest hashrate of 294.8 TH/s. Ethermine charges a low fee of 1% for mining and utilizes the PPLNS payout models with a minimum mining pool payout of 0.05 ETH, which can be withdrawn using Ethereum or Polygon networks.

Nanopool

Nanopool is one of the fastest Ethereum miner pools, and Ethereum mining is built to work with the DaggerHashimoto algorithm. You can find information about the latest blocks mined in the last 24 hours on Nanopool's website. Nanopool charges 1% mining pool fees PPLNS(pay-per-last-N-shares) payout type model with a minimum withdrawal of 0.05 ether. Aside from ethereum, Nanopool provides support for mining other cryptocurrencies such as Ethereum Classic (ETC), Zcash(ZEC), Raven Coin (RVN), and so on.

F2Pool

Since its launch in 2013, F2Pool has become one of the best place to mine Ethereum. It's located across the USA, China, and other countries in Asia. It's one of the biggest mining pools with a hashrate of 153.1 TH/s. F2Pool pays miners via any of two payout models, the first being the PPS with a 3% withdrawal fee and the second is the PPS + with a 2% withdrawal fee. You need to have a minimum of 0.1 ether before you can withdraw to your wallet.

Hiveon

As one of the best mining pool Ethereum miners use, Hiveon stands as one of the top mining pools for ethereum. Since its launch in 2017, Hiveon has built a large customer base by offering zero commission charges and running a referral program to appeal to more miners registering on the platform. They offer high-profit payouts using the PPS+ payout distribution model several times a day. However, the minimum payout withdrawable to your wallet is 0.1 Ether.

2Miners

One factor that guarantees a significant Ethereum mining pool profitability is the mining fees charged to use the pool. 2miners free payments in NANO which is automatically converted from Ethereum. You're charged 1% as commission, and you receive your rewards with the PPLNS distribution model. Apart from Ethereum, you can get your payout in Bitcoin and NANO. You need a minimum of 0.0005 Ether before you can make a withdrawal.

Best Ethereum Pool (2)

Reward Methods

The best mining pools for Ethereum use different payout models to distribute rewards among miners. Let's take a look at how these payment methods work.

PPS (Pay-Per-Share)

PPS (Pay-Per-Share) model is one of the earliest and most reliable distribution models used by the best mining pools for Ethereum. Using this payout model, you are rewarded for each valid share you contribute while mining. Getting rewards doesn't depend on whether the mining pool solves a block. You sell your hashrate to a mining pool to receive a fixed income. Your share worth is calculated based on the probable number of shares needed to find a block.

PPLNS (Pay-Per-Last N Shares)

Pay-Per-Last N Shares (PPLNS) represent one of the top payout choices for the best miner for Ethereum. It rewards miners for successful mining operations within a predefined window. It doesn't reward actions outside the window, and each miner's reward is calculated based on the last N shares. In other words, when a block is found, you receive a reward based on your contribution to the last N shares. Unlike the PPS system, you only get paid when you find a block.

PPS+

Some of the best Ethereum mining pools use the PPS+ distribution model to pay their miners. The PPS+ payout system is a hybrid of the Pay-Per-Share (PPS) and the Pay-Per-Last N Shares (PLNS)distribution systems. The PPS section handles the block rewards, and miners are paid according to the number of shares they submit, while the PLNS section distributes the transaction fees to miners based on how they contributed to the hashrate.

Conclusion

Joining the best ethereum mining pool 2022 is one of the ways to cash out from the crypto space. The best ETH mining pool offers good efficiency, low fees, high hashrates, and user-friendly payout methods. Ethermine, Nanopool, F2Pool, Hiveon, and 2miners are the top five Ethereum mining pools. These pools use the PPLNS and PPS+ models to distribute rewards to their miners.

When you consider solo vs. pool mining ethereum, it's better to join a mining pool as solo mining can be quite difficult, time-consuming, cost-intensive, and less profitable. When you join the best ETH mining pool, you spend less time mining and less money on equipment and electricity bills. A group of miners can combine their computational power to find blocks in less time and receive individual reward shares.

However, another alternative to pool mining is mining using a hosting model. Using a hosting model likeminery.iooffers you the privilege to explore turnkey hosting where you are provided with services that cover all aspects of mining operations from start to finish, including installation, configuration, monitoring, repair, and insurance, essential for a profitable investment.

Best Ethereum Pool (2024)

FAQs

Which Ethereum pool is most profitable? ›

Joining the best ethereum mining pool 2022 is one of the ways to cash out from the crypto space. The best ETH mining pool offers good efficiency, low fees, high hashrates, and user-friendly payout methods. Ethermine, Nanopool, F2Pool, Hiveon, and 2miners are the top five Ethereum mining pools.

What is the biggest ETH mining pool? ›

Ethermine is the world's largest mining pool for the Ethereum blockchain, according to Mining Pool Stats.

What is the most efficient way to mine Ethereum? ›

With its focus on efficiency, speed, and reliability, Ethminer is undoubtedly the best choice for mining Ethereum. Whether you are a beginner or an experienced miner, Ethminer provides you with the tools and capabilities to navigate the ever-changing world of cryptocurrency mining and maximize your mining profits.

How do you mine Ethereum profitable? ›

Unlike Bitcoin, Ethereum doesn't run on Sha-256 mining algorithm. It means you need to buy new ASIC miner to mine Ethereum these days. However, Ethereum mining with a large GPU farm would still be profitable. If you have access to cheap electricity but might not be cost effective in the short run.

Can Ethereum make you a millionaire? ›

Holding 6 Ethereum (ETH) Could Make You A Millionaire, According to Cathie Wood. With the recent halving and spot exchange-traded funds (ETFs) driving demand, Bitcoin has had the spotlight for much of 2024.

Which crypto mining pool is most profitable? ›

Hiveon. The most profitable and efficient mining pool. You don't have to worry about finding a reliable ETH or ETC mining pool. Our PPS+ distribution mode guarantees high-profit payouts.

Who is the biggest ETH holder? ›

Beacon Chain

The Beacon Chain holds the most Ethereum out of any single address by a considerable amount, with around 22 million tokens locked valued at approximately $39 billion, accounting for just over 18% of the total supply.

What is the biggest staking pool for Ethereum? ›

@hildobby / Ethereum ETH Staking 🥩 (Lido, Coinbase, Kraken, Binance, RocketPool, Frax...) Popular
EntityStakedMarketshare
Lido9,319,19687.46%
Rocket Pool791,6407.43%
Frax Finance165,1841.55%
Stader123,1711.16%
16 more rows

What is the best Ethereum mining rig? ›

Top 5 Ethereum Classic Miners
  1. Jasminer X16-Q. Jasminer, a brand well-known for EThash mining, launched Jasminer X16-Q recently in May 2023. ...
  2. Jasminer X16-P. ...
  3. iPollo V1 Mini SE Plus. ...
  4. Antminer E9 Pro (3.68Gh/s) ...
  5. Jasminer X4 Brick.
Aug 18, 2023

Is ethereum mining no longer profitable? ›

It Is Still Profitable to Mine Ethereum? Because Ethereum shifted to proof-of-stake in 2022, you cannot mine ether. But you can mine altcoins that use the same algorithm as Ethereum used to, and some may be profitable.

What is the most profitable crypto to mine? ›

Bitcoin (BTC)

Bitcoin is the largest crypto by market capitalization and the most popular cryptocurrency to mine, with a reward of 6.25 BTC per block - although this halved in April 2024. Due to competition, you'll need a top-of-the-line mining rig to mine Bitcoin successfully, as well as to join a mining pool.

How do I increase my ethereum mining speed? ›

Here are some tips to help increase your Ethereum mining efficiency: 1. Choose the Right Hardware: Investing in high-quality mining hardware that is specifically designed for Ethereum mining can greatly improve your efficiency. Look for GPUs with a high hash rate and low power consumption.

How much Ethereum can I mine per day? ›

How Many Ethereum Can Be Mined? Unlike Bitcoin, there is no limit to the amount of Ethereum that can be generated. Each day around 13,500 Ether are mined.

How many Ethereum are left to mine? ›

Unlike Bitcoin, which has a limited supply, Ethereum has an infinite supply. As of this writing, there are 122.7 million ETH in circulation.

How long does it take to mine 1 Ethereum on a laptop? ›

Considering the current difficulty level, mining 1 Ethereum takes about 60 days.

What is the best rate for ETH staking? ›

Latest Ethereum (ETH) staking rewards
PlatformCoinInterest rate
YouHodlerEthereum (ETH)Up to 4% APY
LedgerEthereum (ETH)Up to 7% APY
CoinbaseEthereum (ETH)Up to 6% APY
MyCointainerEthereum (ETH)Up to 3.06% APY
2 more rows

What is the most profitable coin after Ethereum merge? ›

Ravencoin, Firo, and Cortex are some of the lucrative options for miners post-Ethereum. These coins offer a promising avenue for those looking to pivot after the Merge.

What is the best pool for ethereum classic? ›

HEROMINERS IS THE WORLD'S HIGHEST PERFORMING ETHEREUM CLASSIC MINING POOL. ETHEREUM CLASSIC Coin Mining Pool! HeroMiners is your new home for ETHEREUM CLASSIC Mining!

Top Articles
Latest Posts
Article information

Author: Edmund Hettinger DC

Last Updated:

Views: 6295

Rating: 4.8 / 5 (58 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Edmund Hettinger DC

Birthday: 1994-08-17

Address: 2033 Gerhold Pine, Port Jocelyn, VA 12101-5654

Phone: +8524399971620

Job: Central Manufacturing Supervisor

Hobby: Jogging, Metalworking, Tai chi, Shopping, Puzzles, Rock climbing, Crocheting

Introduction: My name is Edmund Hettinger DC, I am a adventurous, colorful, gifted, determined, precious, open, colorful person who loves writing and wants to share my knowledge and understanding with you.