Mining Monero (2024)

FAQs

Is it still profitable to mine Monero? ›

Yes, Monero mining can still be profitable in 2024, but profitability depends on various factors such as electricity costs, mining equipment efficiency, and market conditions. Monero mining emphasizes decentralization and privacy.

As of Wednesday, September 11, 2024, it would take 115.2 days to mine 1 Monero at the current Monero difficulty level along with the mining hashrate and block reward; a Monero mining hashrate of 54.00 KH/s consuming 280.00 watts of power at $0.10 per kWh, and a block reward of 0.65 XMR.

Monero is usually mined every 2 minutes, depending on the miner's network difficulty and hash rate. This is because Monero uses a Proof of Work algorithm called CryptoNight, which requires high computing power.

Is Monero mining profitable in 2024? Monero mining can be profitable in 2024 if you have access to efficient hardware, low-cost electricity, and favorable market conditions.

As of May 14, all trades on LocalMonero have been disabled. And in six months the entire website will be taken down, parent company AgoraDesk, which is also winding down, said in a statement.

Yes, you can mine one monero a day subject to the power of your hardware. A Monero block is mined every 2 minutes, and we know that the current reward for mining transaction block is 4.99 XMR. So, by doing the simple math, we know that 1 XMR is mined every 24 seconds.

Solo-mining is generally far less profitable than pool mining, unless you get lucky. Because the hashing power of your machine is so low compared to the hashing power of the entire network, the chances of you actually finding and mining a block yourself are incredibly small.

How many Monero are there? The current circulating supply of Monero is 18.45M.

It is not shocking that the AMD Ryzen 9 5950X is a great CPU for mining Monero. With fantastic features that other CPUs could only dream of, the AMD Ryzen 9 5950X takes first place as the best CPU for mining Monero.

Key Points. Monero (XMR) is a secure, private and untraceable cryptocurrency known for its strong focus on privacy and anonymity. Transactions on the Monero (XMR) blockchain are confidential and cannot be traced, ensuring the privacy of its users.

Is Monero mining CPU or GPU? ›

Monero can be mined on both CPUs and GPUs, but the latter is much less efficient than the former. You can get an idea of how your hardware performs compared to others, using xmrig benchmarks page (some results might be out of date).

The current Monero price is 152.16 €. XMR and there is a “soft cap” of 18.4 million XMR, but no true max supply.

NanoPool. Nanopool is currently sitting at a decent 323 megahashes per second and comes in with about 3,000 miners. The minimum payout or withdrawal from Nanopool is 1 full XMR, so this pool is better suited for those who intend on mining Monero for longer term, and miners can expect a 1% mining fee.

Yes, you can mine one monero a day subject to the power of your hardware. A Monero block is mined every 2 minutes, and we know that the current reward for mining transaction block is 4.99 XMR. So, by doing the simple math, we know that 1 XMR is mined every 24 seconds.

Monero will have a total supply of 18.4 million XMR, expected to be reached in May 2022, but there is no true max supply as after this point Monero will continue to emit 0.6 XMR per block infinitely in a process known as “tail emissions”, in order to keep miners incentivized to power the network.

Our most recent Monero price forecast indicates that its value will increase by 5.22% and reach $178.42 by September 08, 2024.

What Is the Target Price for Monero? Many experts believe that Monero can easily reach $1,000 by 2030.