- Josh Metnick says the crypto DCR from Decred is one of the most profitable to mine.
- This is based on electricity costs, the crypto’s current price, and the availability of ASIC miners.
- The miners are currently efficient enough to be profitable even with higher electricity costs.
The mining craze is picking up speed as more potential investors consider entering the arena. Josh Metnick, CEO of Navier, a company that hosts different types of miners across seven facilities, told Insider demand has been high, especially since China began cracking down on bitcoin miners.
The industry is expected to continue booming. The mining hardware market by product (ASIC and GPU) is expected to grow globally by $2.80 billion at a compounded annual growth rate of over 7% from 2020-2024, according to a report by Technavio.
The high demand prompted Metnick to raise his own prices. Just a few months ago, he charged about $0.04 per kilowatt-hour per miner but that rate has now increased to $0.075.