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Grin Solo Mining Vs. Pool Mining with the iPollo G1 Mini – Which is More Profitable?
In today’s video, we’re going to discuss the profitability of Grin solo mining versus pool mining with the iPollo G1 Mini miner. This analysis is based on my personal experience, as well as data shared by community members who have been mining Grin for an extended period.
Introduction
The iPollo G1 Mini miner is a popular device for mining the Grin cryptocurrency, which has recently gained attention after some users in the community reported that solo mining is more profitable than pool mining. This sparked my interest, as we are always looking for ways to increase profits in the bear market. For this experiment, I used data from users who have been mining Grin for at least several weeks up to several months.
Grin miner profitability
To compare the profitability of pool mining and solo mining, we first need to analyze the mining income. We’ll use two websites to estimate the mining income for pool mining: Asic Miner Value and Mine the ASIC. Based on their data, the daily mining income (without considering electricity costs) is 48 cents and 56 cents, respectively.
The total hash rate for Grin mining on the TwoMiners platform fluctuates significantly. As more miners join the network, the chances of hitting a profitable block diminish.
Comparing Profits: Pool Mining vs. Solo Mining
Using information provided by demining and New England Crypto, two experienced Grin miners, we can compare their profits with my own. Demining has three workers and hit 11 blocks in the last 30 days. New England Crypto, with four workers, hit 16 blocks in the same period.
For the iPollo G1 Mini, I hit two blocks in just over two weeks, which puts me at an average of one block every 8.5 days. Extrapolating this to a month, I would hit approximately 3.5 blocks per month. Comparing this with my fellow miners, I am not as fortunate, considering their block rates.
Now let’s analyze the profits made by pool mining versus solo mining. We will base our calculations on an average Grin per day of 7.614 with a value of 52 cents per day. During my testing period with the iPollo G1 Mini, I earned a total of 137 Grin, worth $9.36.
Comparing this with solo mining, hitting two blocks with a value of $4.07 each, I earned a total of 118 Grin, worth $8.15 during the same period. The difference in profit is $1.21 in favor of pool mining.
Conclusion: Luck Plays a Significant Role
Based on the results of this analysis, pool mining appears to be slightly more profitable than solo mining, at least for myself. However, this could change if I were to hit another block today or sometime in the future, as my luck factor is currently over 160%. This would change the overall profits considerably.
It’s worth noting that luck plays a considerable role in the profitability of solo mining. While my experience has been less fortunate, other miners have found success with solo mining. Therefore, conducting your own tests and gathering your data may be necessary to get a more definitive answer as to which method will be more profitable for you.
Considering the close profits margin between the two mining methods, an additional test with a longer testing period and more mining devices could help to generate a clearer conclusion.
Where to purchase the iPollo G1 Mini?
If you are interested in purchasing an iPollo G1 Mini, it can be found on Coin Mining Central and ASIC Marketplace. Remember to use the “The Hobbyist Miner” discount code at checkout for savings.
In summary, while pool mining seems to have a slight advantage in profitability, your personal luck and mining setup could lead to different results. Always conduct your own tests and gather data specific to your mining setup before deciding on one method over another.
What are your experiences with Grin mining?
Have you had similar experiences mining Grin, or perhaps different results? Leave a comment down below to share your thoughts and experiences with Grin mining, and let us know whether you prefer solo mining or pool mining.
Sounds pointless.
Hi! What amount of power do you need to make SOLO mining a good try? 1% of all network power?
I mean, what amount of power do you need, relative to the network, to be OK with SOLO mining.
I make over 250 grin in a month pool mining on 2miners and I am not solo mining either
Waste of money.. period
new to the mining world , when we do solo mining , do we get to mine the bitcoin bit by bit , even tho we didn't get to mine the major block?
Hey, I do SOLO mining with my GPU's and it is awesome on GRIN32. Why don't You try and make a video about it. Yes it is less profitable than asic but 3060 and 3060ti that I have do well still
Oh yeah NEC got me into Grin too
Wow the prices of these have gone up, they were $299 last year
I have not pulled the trigger yet on a g1 but Belay Mining has them way cheaper. $299 with discount codes out there for 25 off. Just throwing it out there.
Brother can we mine polygon matic coin
in the long term there is no gain over pool mining , you luck tend to 100%
I got 5g1 mini plus my some 6600xt 9.5gps and alil over 18 blocks a month. Try to put it in perspective the ipollo g1 are hitting over 100 blocks every 30 days 4.05×30 days=$121 month
Have you looked into the mimblewimble coin you can mine other than grin?
literally just got mine in the mail today now just have to wait for it's upgraded 150W power supply I don't trust the 120W one it comes with knowing the g1 mini can pull as much
I am doing better on ERGO solo than pool by a long shot.
I have 4 g1 minis . Been mining with them on and off , over the last year . I use to hit solo , blocks every couple days sometimes every day . Since Eth going to pos . Grin is harder to hit solo blocks and the difficulty and hash on grin probably fluctuates do to people jumping from whatever coin is profitable. Grin is usually listed on whattomine as being one of the most profitable coins to mine with Gpus ..
If your G1 mini is running hot – check to make sure your heat sink is still attached- I had two of my g1 minis with the standoffs
Pull out from the hash board .
Solo mining is tough because there is no guarantee of payout. So I always called it speculative or gambling. If you can get a coin early it has huge potential. But as a coin grows in popularity you have to keep buying more miners to get the same results. I just point to BTC large mining companies buying 1000 of new miners just to stay competitive. I was soloing ergo for a while and was happy before eth merge. But as things started heating up people eventual throw more mining power at it. What drove me crazy was just as things start looking good with chances. There are people that time it and bring rented mining power online and many times score the blocks. Enough power to almost double hash rate on the pools. With that said I dont want to deter anyone, but just realize you wont get rich quick mining and that includes solo mining (unless you have a lot of hash power and "LUCK").
I Wish you BURST of Luck… I had some great Luck Solo Mining other coins especially last week … (Think I was wearing one of your new Shirts 👍…Time to Gear Up). Also, with Solo mining the past doesn't matter so if you have 90% Luck and think your due to hit soon since your already at 90% – that's WRONG. If you flip a coin 100x and it always comes up tails what are the odds of you flipping a heads coin the next time ? Still the same 50/50
Bad luck…☹
I found these on Amazon for $299! I've got one in my cart,along with a gold 300mhs ipollo.
Just waiting for my taxes…
I’ve been SOLO Mining ⛏️ ZEN with 3 Z9 Minis for almost 3 days now without capturing a Block. Beginning to get discouraged about it!
With my 5 g1 minis mining solo for the last 7 or 8 months, the Grin mined in 30 Days is now down to 16 blocks per 30 days.
Worst it has ever been and It has been constantly getting worse ever month for the last 3 months.
My personal luck has actually got up to 881 and is running between 200 and 300 on average before hitting a block. No problems with my internet or latency to the pool.