ALPH mining changed dramatically when IceRiver and Bitmain entered the scene. It went from old-school GPU mining in basements to industry-grade mining with ASICs. The hashrate has been climbing since then, leading to increased difficulty. This raises the question: is $ALPH still worth mining?
To answer this, I will use a website that tracks mining profitability called Mining Now.
But first, it's important to note that there are three suppliers of $ALPH ASICs: Goldshell, IceRiver, and Bitmain. IceRiver and Bitmain have almost the same ASIC hash power and efficiency, but one offers a much lower price.
Introducing the Iceriver AL3 (15TH/s) for $3,999.00. This machine was out of stock for about 3 weeks (since Dec 2024) but is now accepting orders, with shipping dates from Feb 1st to 15th.
Using the data from Mining Now, if you have the IceRiver AL3 and are paying $0.20/KWH, you’ll end up making $1.00 per day after electricity costs. I know it sounds terrible for a 4-grand machine, but there were months when you could earn $50 per day. If you caught those times, then your ROI is much shorter.
With that said, the answer may vary.
If you bought any machine less efficient than this, you're likely running at a loss. In that case, it's better to buy ALPH on the spot market rather than using your electricity bill and hardware lifespan to mine it. At least for now.
If you already have this machine, it's definitely worth running. Just keep doing business as usual.
If you haven't bought one yet and you're a big bad bull and feeling bullish, it's your decision. Bitmain has never supported a coin that didn't reach at least a $1 billion market cap. It's also a crypto tradition to end the 4-year cycle with an alt-season. I don't make the rules. When the market goes crazy, these machines can increase in price by 5-10 times. That's if you can even find one for sale.
I know some of you have different opinions on this, trust me, I know how you feel. But before you start anything in the comments, please understand that I am not a price dev or tech support. I will still do my best to help you out tho!
When these machines first became available, I wrote an article to help you make the best decisions: ALPH Mining: Is It Right for You?. So, if you're still undecided and interested in mining ALPH, please take an extra 8 minutes to read it thoroughly. Let's continue.
Okay, but what if I told you that you could increase those profits?
Enter, the working DeFi!
Alephium is not just about mining it and holding. Sure, that can be the case for many but there are risk-tolerable ways to increase your holdings. Alephium is a working DeFi, and your coin can do a lot of magical things.
#1 ALPH-USDT yield pool farming
Managing infrastructure is a different challenge. You have bills to pay every month. So, it's normal to set aside some mining rewards in fiat while you're still making a profit.
The good news is that both AYIN and Elexium Finance offer APY for providing liquidity. As of now, the APYs are 28% and 52%, respectively.
If you're new to these dapps, check out their documentations and socials to get started.
Regarding the risks, I'd say they're reduced because your LP is half ALPH and half Stablecoin. This setup is ideal for long-term holders and miners.
#2 Dollar cost averaging hot tokens.
Now, this is for those focused on growth. Once you've covered your fixed expenses, it's time to explore new projects on Alephium. These projects can offer significant gains if you get in early.
AlphBanX - This is a lending platform similar to Kujira/MakerDAO. Holding $ABX and staking it on the protocol can earn you revenue from collected fees. When staked, $ABX acts like a mining rig, but it doesn't use electricity or space. The protocol is currently being audited and has been deployed on the mainnet for private testing. We can expect public testing to begin in a few days or weeks.
MyOnion - This is the pump.fun of Alephium. If you're anticipating an alt-season, you can also expect meme tokens to provide significant gains when you choose the right token. Investing small amounts in meme tokens can lead to life-changing returns.
The New KYC-compliant launchpad. If you’ve heard been following LINX LABS, then you know they are waiting for a KYC-compliant launchpad for their token sale. Just speculation, but I would also expect GIGATONS to raise capital here if they would have a token. I’m seeing some folks regretting not getting into AlphPad and missing tons opportunities. Look, we all got into these tokens together. My gains are also your gains. The game is very simple, get in early. And these launchpads are your gateway to getting these projects early.
Micro-hedging daily movements on AlphPad’s Rocket Range. This isn't really solid advice, but you might protect yourself from downward pressure by betting against ALPH on Rocket Range. You'll need to figure out the statistical probabilities yourself, but I believe there's more to it than just charting and betting. I'll find time to discuss these ideas in upcoming articles.
And there you have it. Whether you’re casually mining, or an avid defi user, there’s room for everyone to bring their hodling game to the next level.
Thanks for joining today, catch you on the next article. Cheers! 🥂
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