Overview

NiceHash, a spot hashpower marketplace that allows users to sell hashpower and earn Bitcoin through their various services, recently rolled out NiceHash EasyMining, which enables users to purchase hashpower and mine crypto on different blockchains, earning block rewards.

According to NiceHash, users can yield up to 6% higher earnings by mining with NiceHash, on average, than by mining Bitcoin directly with a mining pool. We decided to put those claims to the test and to see if EasyMining is a viable option for our customers.

To test out NiceHash, we connected 40 identical units and performed an A/B comparison test: 20 units were connected to NiceHash, and 20 to one of the top global mining pools, referred to in this article as “Pool X.”

Over a 60-day test period, our results revealed that mining via NiceHash consistently yields higher results than traditional mining via Pool X. In fact, our results surpassed their claims and our own expectations, and on average yielded 10.8% more mined BTC. 

How it Works

Traditionally, the only source of revenue for miners is blockchain block and transaction fee rewards, which are generated by the blockchain network as a reward for successfully solving a block.

NiceHash created an additional revenue stream for miners, allowing you to earn more through the use of their alternative hashrate marketplace approach. NiceHash mining is a product that allows users to purchase hashing power packages, and as such, these buyers present an additional revenue source which goes directly to the sellers (miners) of hashing power.

Unlike traditional mining, this additional revenue stream provides higher payouts for miners, putting them at a significant advantage while outperforming the results of mining via a traditional mining pool.

Ease of Use

Overall, we found the NiceHash mining interface to be highly intuitive, accessible, and user-friendly.

Users can easily see the remaining time until their next payout, mining payment history, current mining balance, profitability for the next 24 hours, their projected daily, weekly, monthly, and yearly revenue, and much more. Another neat perk is that you can set your payout frequency to as often as every 4 hours, allowing you to adapt your NiceHash mining experience in the way that works best for you.

There are a plethora of other features available with NiceHash mining, including live stats monitoring of your connected machines and historical mining stats, which allow for precise progress tracking.

Results and Conclusion

After a 60-day test period, our results showed that mining with NiceHash yielded 10.8% higher earnings than mining via a traditional pool, on average.

We were impressed with our overall experience with NiceHash, and believe that this is a viable alternative solution for our customers as there are effectively no downsides to using NiceHash over a traditional mining pool. 

Ultimately, even if miners have an enterprise-scale operation with no pool fees, or other special arrangements, we do not see an option that surpasses the advantages offered by NiceHash. Based on our experience, we view their solution as a win-win for the vast majority of crypto miners, and highly recommend it for your mining operations.

Miners interested in mining with NiceHash can do so with any number of units: Wattum maintains a broad inventory of the latest mining equipment, and we also offer quantity discounts depending on the number of units you purchase.