Ethereum 2.0 is on the cards and is expected in the second half of 2022. It’s a serious matter for serious miners which will stop mining of Ethereum. Many keep asking –when that happens, what to do next? Is selling our mining Rigs is the only thing to do? What altcoins to mine once Ethereum mining stops and changes to Proof of Stake?
There will be a chunk of miners that will stop mining after Ethereum 2.0 goes PoS–that’s Proof of Stake. Since Ethereum changing from Proof of Work doesn’t make much difference to a big chunk of miners. There will always be other coins to mine and some are already close in profitability but which one will be the next Ethereum, is much more difficult to predict.
So if you are a miner who is seriously into mining why not continue by switching to a new altcoin when and if Ethereum goes 2.0. The Eth 2.0 is serious this time. Anyway then the miners ask what coin and that’s the difficult question.
What Altcoins to Mine After Ethereum Mining Stops aka Ethereum 2.0 (Proof of Stake)
There are a bunch of altcoins at the moment with a great earning potential for miners. So let’s just have a look at a few if we head to everyone’s favorite Whattomine.com.
We can see a list of coins under Ethereum. The miners that won’t sell their Rigs and continue mining will need to choose one of these coins and make use of their Mega Hashes. Just a bit more specification details will help you find the right altcoin to mine.
Have a look at some of the popular mining GPUs that you already own and don’t want to sell them. You need to look at their specs. The specifications because if you have the AMD RX 6600 XT and GeForce RTX 3060 lhr you can mine Ravencoin. Not just the Ravencoin you can mine top 5 coins mentioned on the Whattomine list.
If you have already got a bunch of both one top five coin between them is Ravencoin. If not and you want to mine, create a LHR Rig specifically to mine it. The Reddit community around Ravencoin is great with plenty of optimism and it’s very active. The development team haven’t done any shady stuff so far which is always good.
However, there’s one thing that we need to understand about mining Ravencoin– the Kapow Algorithm is core and memory extensive uses more power than Ethereum which also means it generates more heat as well. So if you are going to mine it during the summer make sure you have found the way to deal with it. For example RTX 360 lhrs will mine Ravencoin at 130 watts and with Ethereum you will see that be below 100 watts.
This affects profitability as more power is more costly to run. In fact even a hashrate limited card is more profitable mining Ethereum.
So for mining the Ravencoin, especially during the summer, make sure you do something for cooling the Rigs, if you are using some real good ones.
So in the comparison Ethereum has been so you can keep mining as much Ethereum as possible before it’s over. There is something about Ravencoin that you need to know that it is going through a halving around january 2022 that means each block will only spit out 2 500 coins instead of 5,000 coins unless the price of Ravencoin doubles. However, it’s not as good as Ethereum was but better than others to mine until then you know in case it doubles in price.
But on the other hand, you can still prefer going with a safer bet of Ethereum instead, don’t jump onto Ravencoin when the Ethereumis no longer mineable.
There are substitutes to Ethereum and Ravencoin
But it’s got good potential. However, if you think mining Ravencoin is bugging your system due to power issues there are other options to choose from. Let’s check out the other top altcoins that have potential to mine after Ethereum 2.0.
For the RX 6600 XT which is lower on the RTX 3060 lhr list firo’s reddit community is tiny compared to Ravencoin’s. If you don’t want to mine coins after Ethereum 2.0 the next altcoin you can mine is Firo.
However, somehow if you find Firo uses a lot of power like Ravencoin, you may look for another coin that pays better like Ethereum does.
The next good coin after Ethereum 2.0 to mine is Flux with RTX 3060 lhr or any other RTX 30 or AMD GPU you may have been using. However, if you thought Firo had a small Reddit community then Flux has an even smaller one. If that’s a metric worth judging this coin seems to be run more like a company than the others. There are infographics and posts that are more about shilling the benefits of the Flux coin on Reddit which is fine.
Flux also uses a Proof of Useful Work concept where instead of solving random problems all the power is used to solve real world problems. This is a good idea in theory but we’ll see how it works out. For some miners, Flux as well, using a lot of power that so most of the coins do.
Beam is another very good replacement for Ethereum to mine. If you go to its website you can see how organized Beam coin is. Make the best use of your mining Rig especially if you are using RTX 3090, 3080, 3070 or 3060, LHR, ti or even Radeon RX 6900 XT, RX 6800 XT, RX 6800 GPUs.
You can use your best built Rigs for mining Beam once Ethereum mining is over and 2.0 finally gets implemented. Beam can become a better choice after Ethereum, Ravencoin and Firo etc.
The next altcoin on this list is QuarkChain. If you visit QKC’s website you will see many new developments are going to happen. Gradually, miners may get more mining fees once they all get implemented. Although you would not get benefits from this as well as Ethereum mining. However, if someone has a good Rig already working and Ethereum 2.0 makes the mining for it stop. Then giving QuarkChain a try is worth it, in case someone does not want to mine Rvencoin or Firo etc.
There are other altcoins that you can mine as well, not just the few we mentioned earlier. These altcoins include Sero, Ergo, Mano and Metaverse etc. You can see the rest of the list of Whattomine.com and also find out how much you can earn by mining each one of them.
If we dig further deep we could keep going on and on like this with other coins. But this quick overview gives you a bright idea on how to deal with the Ethereum 2.0 situation and what to mine when Ethereum mining stops. This also gives you an idea on the current situation. What’s likely to happen is that miners will spread out various coins. There might not be a clear winner to replace Ethereum for a while but we need to keep an eye out on how Ravencoin travels after the halving.