We are witnessing an exciting shift in profitability for miners on NiceHash, with record-breaking payrates that are outperforming traditional FPPS pools. Hashprice on leading FPPS pools has been stuck at historic lows of 0.00069 BTC/PH/Day or around $39/PH/Day, but NiceHash payrates are spiking back to pre-halving levels!

On the 11th of September, the SHA256AsicBoost payrate briefly hit a new record high of 0.00199 BTC/PH/Day - the highest that hashprice has been since the middle of January 2024.

At the time of writing, the NiceHash payrate is stabilizing around 0.00140 BTC/PH/Day, or approximately $80/PH/Day — more than double what a miner earns on leading FPPS pool.

Why is this happening?

Payrate on NiceHash often detaches from the hashprice of traditional mining pools. Historically, NiceHash payrates are 1% to 2% higher than the hashprice on FPPS pools. In the past few days, we’ve seen payrates on NiceHash briefly spike to 0.00199 BTC/PH/Day before stabilizing at around 0.00140 BTC/PH/Day, or approximately $80/PH/Day. In contrast, the hashprice on FPPS pools has remained fixed at 0.00069 BTC/PH/Day.

This significant difference is a direct result of high demand from the buying side on the NiceHash marketplace. Buyers are willing to pay a premium for access to on-demand, deliverable hashrate, which drives the higher payrates which the miners are currently enjoying. NiceHash’s unique spot, deliverable hashrate marketplace allows for real-time pricing based on market demand for the hashrate. While FPPS pools offer fixed payrates based on difficulty and 144 blocks issued in a day, NiceHash offers miners the ability to capitalize on fluctuating market conditions, leading to significantly higher profits during these hashprice spikes.

How does this affect miners?

Miners on NiceHash are currently earning significantly more - spikes of up to 150% higher payrates than leading FPPS pools. Even with a standard setup, the returns are far superior to traditional pools, thanks to NiceHash’s dynamic pricing model.

For context, anyone mining on an FPPS pool over the last three days (since 10th of September) with 100PH has earned around 0.034 BTC. Meanwhile, a miner using NiceHash with the same 100PH has earned approximately 0.049 BTC - resulting in over 40% higher earnings for miners on NiceHash!

Spikes of more than 150% higher payrates on NiceHash compared to FPPS pools mean that now is the perfect time to switch your mining operations to NiceHash and take advantage of this spike in profitability.

How can I start mining on NiceHash?

If you haven’t already connected your devices to NiceHash, now is the perfect time to do so. Connecting to NiceHash is as easy as connecting to any other pool. 

Create an account and follow the steps in our connection guide to get started and begin earning more from your mining operations.

Thank you for being part of the NiceHash community during this exciting time. With record-breaking payrates, connect your rigs to NiceHash and maximize your earnings!

For the latest updates on payrates and mining performance, follow us on our official Telegram channel, Discord, or Reddit. If you have any questions, feel free to reach out to our support team via support@nicehash.com or visit our support system.