Bitcoin Mining Overview
Bitcoin mining uses the SHA-256 algorithm and is dominated by specialized ASIC hardware. As the original and largest cryptocurrency by market cap, Bitcoin has the most developed mining ecosystem:
- Algorithm: SHA-256 (ASIC-optimized)
- Block Reward: 3.125 BTC (post-2024 halving)
- Block Time: ~10 minutes
- Network Hashrate: ~700 EH/s
- Cloud Mining Availability: Widely available from most providers
- Price (March 2026): ~$85,000
Bitcoin is the default choice for cloud mining due to its liquidity, established infrastructure, and the widest selection of providers offering BTC mining contracts.
Ethereum Mining Overview
Important note: Ethereum (ETH) itself can no longer be mined. The Ethereum network transitioned from Proof of Work to Proof of Stake in September 2022 ("The Merge"). However, Ethereum Classic (ETC) — a fork of the original Ethereum — still uses Proof of Work mining.
- Algorithm: Etchash (GPU-friendly)
- Block Reward: 2.56 ETC
- Block Time: ~13 seconds
- Cloud Mining Availability: Limited (fewer providers offer ETC)
- Price (March 2026): ~$25-40
After The Merge, much of Ethereum's mining hashpower migrated to ETC and other GPU-minable coins. While ETC has a community and use case, it's a much smaller market than Bitcoin.