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Author: Admin | 2025-04-28
In 2017 from five to three ether. Not even a year and a half later, in 2019, block rewards got cut once more by a third to two ether per block. In August of 2021, another Ethereum update (EIP 1559) was deployed, which fundamentally changed Ether’s tokenomics. Following the update, miners now receive two ether plus all the priority fees contained in a block. But the base fees paid by users are burned by the network, resulting in ether potentially becoming a deflationary currency.A miner’s effective earnings are dependent on the provided hashrate, the price of electricity, and the cost of the hardware. To calculate your potential profit, enter your specs into a mining calculator. Why should you mine Ethereum? When the Ethereum network first launched in 2015, ether prices were low (≈1$). Mining ether was no get-rich-quick scheme. Many of the first miners were developers or crypto enthusiasts who believed in the project and wanted to support its cause.With the ether price steadily increasing, mining became more lucrative, attracting tech-savvy people who understood the network’s potential and were skilled enough to run their own nodes. Nowadays, with ether prices being in the four digits, mining ether is a profitable business, even though fiercely competitive. But as Ethereum is switching to PoS in 2022, new investments in mining equipment are unlikely to still prove profitable.Nevertheless, mining is certainly an interesting option for individuals with access to unused GPU processing power that want to make some extra money. But with PoS
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