Mining profitability (total earnings - total costs) is changing all the time and miners know it’s a pure numbers game. When profits go down many of you start asking how to increase profitability. Let’s see what you can do to stay in the green.

There are 4 things that you can do to increase profitability:

1. Lower the power usage
2. Lower your electricity price
3. Use mining rig as a heater
4. Choose the most profitable miner

Lower the power usage

For this, you will need MSI Afterburner software to limit GPU’s power draw. We recommend you use a power meter monitor to measure the actual power draw from the wall, but it is not necessary.

1. Connect your rig to the electricity via the power meter monitor and start it up.
2. Download and install MSI Afterburner.
3. Start mining and write down power usage from the power meter monitor and current hashrate.
4. Use MSI Afterburner to lower the Power Limit to 85% and write down the power usage and hashrate again. 
5. Lower the Power Limit by another 5% to 80% and write down the power usage and hashrate again.
6. Proceed until you notice a hashrate drop. 
7. Save these settings.

With this method, you should save 20% to 30% of your electricity bill.

Lower your electricity price

This one is pretty straight forward. Change your electricity provider.

Most people have not changed their electricity provider for quite some time. If you are a miner then it is recommended to look up the local providers and send them an inquiry for their best offer. Compare it to your current provider and change if you happen to find a cheaper one.

Even if you get the price down by 5% this could mean a lot and might be a point where you still find mining profitable.

Use mining rig as a heater

Most of the people from the northern hemisphere will need some kind of heating in the next few months. Instead of using heaters for heating up your home, you could use a mining rig and even earn money by doing this or at least pay less than using other kinds of electric heaters.

If you spend 80€ a month on heating, wouldn’t it be better if you ran the rig which makes about 80€ a month and you pay 90€ for electricity? This means that you would pay only 10€ for heating.

Choose the most profitable miner

Last but not least, you need to choose the most profitable mining software to optimize your mining returns. NiceHash Miner is the most profitable mining software that you can get. If you are not sure how NiceHash works, you can learn more here.

Basically, NiceHash connects buyers of hashing power and sellers of hashing power (miners). NiceHash is the most profitable way to mine because the buyers are constantly fighting for the hashrate that sellers provide on the open marketplace. On some occasions, buyers will actually pay more for hash power, than they would statistically make over time. Thus, making NiceHash Miner the most efficient miner. 

You can register here and watch this tutorial on how to get started!