How do people get such high hash rates with Litecoin?

[coinmyne]

I bought an Antminer L3+ about a year ago. I am mining with it on litecoinpool.org. From what I understand, I have one of the most efficient and powerful ASICs that exist, and I am mining at a little over 500 megahashes. Yet, there are people in my pool who are mining at 2,000 gigahashes, which is about 4,000 times more than me. How? Do they really have 4,000 Antminers? And are they really using 3.2 megawatts of power? Or are they accomplishing this some other way?

[Bttzed03]

I have very little idea about mining but some members from the altcoin mining board could help you. Move your topic there (see bottom left).

I suggest that you also join dedicated forums/channels for Litecoin

• https://www.reddit.com/r/litecoin/
• https://litecointalk.io/

[philipma1957]

Okay there are 4 or five miners worth mining ltc/doge with

bitmain

l3+ =            480-550mh     800-900 watts

l7  =                 9500mh         3200-3400 watts


innosilicon A6+  2200mh.       2100-2150 watts


goldshell

L5 pro              2455mh.     3000-3100 watts

L5                    2050mh     2080-2150 watts  

if you take a good look

bitmain l7 is 19x the hash and 4x the power of the L3

So if you have 2000gh you have 210 l7 as 210 x 9500 = 1995 gh and burns  714kwatts.

you are also making very serious cash.

as 1995 x 0.022499 = 44 ltc a day.  10000 usd

and 44 x 2000 = 88000 doge a day 26400 usd

714 kwatts per hour = 17136 kwatts a day.  make it 18000 kwatts a day that is a 18 megawatt complex. or big real big.

so 36000 usd a day earned and at 5 cent power only 900 in power

net of 35000 usd a day.

if you got your l7 gear at 10000 each you are paying 3.5 off a day.

so make it 11700 each you pay off 3 l7's in a day so your 210/3 = 70 day payoff.

Must be nice for that farm.  Which if it is in one place is huge.

[adaseb]

This is proof how competitive mining has gotten. Most likely those miners with 4000 ASICS is obviously some large professional farm with great deals on electric, something that is difficult for regular home miners to get.

Lite coin is not the only one. Look at ETH hashrate. Basically GPUs are sold out, if you are lucky to get one it’s most likely the slower LHR one not meant for mining, costs an arm and a leg and you would think that the difficulty would at least remain stable, however it keeps rising and rising at a high rate.

Goes to show you how much money people are putting into mining and crypto.

[philipma1957]

the entire ltc network is 306th that is 306,000 gh

so the 2,000 gh farm he mentions is but 1/153 rd of the network.


so pretend that 153 x 18000 = 2754000 kwatts a day

or 2754 megawatts a day

just for ltc/doge and that would be if it was all L7 super efficient. 0.357 watts an mh

l3 is 5x at 1.7 watts a mh


so the full range of power for ltc and doge is at best 2754 megawatts a day at worst 12000 megawatts a day

eth and btc are also big burners of power.

[coinmyne]

Okay there are 4 or five miners worth mining ltc/doge with

bitmain

l3+ =            480-550mh     800-900 watts

l7  =                 9500mh         3200-3400 watts


innosilicon A6+  2200mh.       2100-2150 watts


goldshell

L5 pro              2455mh.     3000-3100 watts

L5                    2050mh     2080-2150 watts  

if you take a good look

bitmain l7 is 19x the hash and 4x the power of the L3

So if you have 2000gh you have 210 l7 as 210 x 9500 = 1995 gh and burns  714kwatts.

you are also making very serious cash.

as 1995 x 0.022499 = 44 ltc a day.  10000 usd

and 44 x 2000 = 88000 doge a day 26400 usd

714 kwatts per hour = 17136 kwatts a day.  make it 18000 kwatts a day that is a 18 megawatt complex. or big real big.

so 36000 usd a day earned and at 5 cent power only 900 in power

net of 35000 usd a day.

if you got your l7 gear at 10000 each you are paying 3.5 off a day.

so make it 11700 each you pay off 3 l7's in a day so your 210/3 = 70 day payoff.

Must be nice for that farm.  Which if it is in one place is huge.

So just a few hundred of the most powerful miners can explain it. I thought it had to be a botnet situation. That is still an amazing amount of electricity being used, though. Thanks for your response.

[adaseb]

So just a few hundred of the most powerful miners can explain it. I thought it had to be a botnet situation. That is still an amazing amount of electricity being used, though. Thanks for your response.

Botnets were an issue with Monero about 4-5 years ago, which led them to make a change to their algo. Botnets are almost NEVER used on Bitcoin or Litecoin because there is actually no point. The CPU of most retail computers is so slow compared to say the oldest ASIC there is no point. It wouldn't be worth the actual hassle of getting a botnet going for Litecoin or Ethereum or Bitcoin.

Litecoin has been out for a long time. There are many ASICs for it. The first one came out back in late 2013 even and who knows... maybe people are still using it to this day in some countries with cheap or free electricity. And after that there were many ASICs made by Bitmain and other manufacteurs. Even that KnCMiner TItan Cube, which is like from 2014, its inefficent in todays standards but who knows. Maybe in some countries they are still being used.