Were the long-term results of mining worth it? | Daniel Jensen | Coins | January 2024

If you’ve been following me for a while, you’ve probably seen that I recently started mining Kaspa using a pair of ASICs. But before that I was doing GPU mining. And I thought I’d share some of the results with you.

After the merge occurred, Ethereum went the way of the Dodo. I was looking for what to do next. And in this very cold bear market, Ergo has gained new attention. So I put in a GPU to use mining Ergo. But when times get tough, as they often do, people turn to innovation to make times better. And that’s when we first had Duo Mining, the ability to mine two coins at the same time. This allows for better utilization of all GPUs, as some algorithms use more of the GPU’s core processors, while others rely more on GPU memory.

I then added Alephium to the Ergo I was mining. This is something we rarely think about because it simply adds a few cents to our daily income. Ergo was the main price and what I wanted the bag to be made of.

I mined it for a few months, but eventually the price dropped and the Ergo messed up my bed with a few decisions that made it barely hold my interest. At least for a while. I checked and I got my last deposit back on June 22, 2022, which is when I pulled the plug on Duoming, so to speak. So I mined for a bit longer and continued mining until February 2, 2023. I didn’t really think much about it at the time and just kept Ergo and Alephium in their respective purses.

Because neither of them were anything to write home about. It cost a little more than it was worth at the time. But that’s mining. But I saw it as gaining experience. It wasn’t until last fall that I revisited them both. I then exchanged what little Ergo I had, and like most cryptocurrencies, it lost some value. Without thinking much, I just said c’est la vie and moved on.

But as December passed by day by day, my friend asked me about Alephium, a new cryptocurrency for him. I told him what I said…