Introduction to Ethereum Classic Mining
Ethereum Classic (ETC) is a decentralized blockchain network maintained by a global community of computers. It securely records transactions, account balances, and smart contracts—self-executing programs that power decentralized applications (dApps).
To add transactions or interact with dApps, users submit transactions to the network. These are then broadcast to all participating computers. The process of including these transactions in the immutable ledger—known as the blockchain—is called mining.
Mining involves specialized computers performing intensive calculations that consume significant electricity. Their goal is to generate a unique cryptographic seal, known as a hash, for a batch of transactions (a block). This block is then verified and added to the blockchain. The machines that perform this work are called miners.
The Business of Mining ETC
Mining Ethereum Classic isn’t just a way to support the network—it can also be a profitable venture.
Miners are rewarded with newly issued ETC coins for each valid block they add to the chain. This reward follows a decreasing emission schedule:
- The first 5 million blocks paid 5 ETC per block.
- The next 5 million blocks paid 4 ETC per block—a 20% reduction.
- Subsequent epochs continue this 20% reduction trend.
Currently, the block reward stands at 2.56 ETC. This halving mechanism will continue until ETC reaches its hard cap of 210.7 million coins.
At the time of writing, over 140 million ETC have been issued. That leaves approximately 70 million ETC yet to be minted. At today’s prices, that represents a multi-billion dollar opportunity for miners over the next decade.
Given ETC’s fixed monetary policy, ongoing adoption, and strong security, mining profitability could rise significantly in the future.
Why Mine Ethereum Classic?
Ethereum Classic holds a unique and valuable position in the cryptocurrency landscape. It is:
- The world’s largest Proof-of-Work smart contract blockchain.
- The fourth-largest PoW blockchain by market cap, behind only Bitcoin, Dogecoin, and Litecoin.
- Arguably the most secure programmable decentralized platform, as most other smart contract blockchains use Proof-of-Stake—a consensus mechanism often criticized for being less secure and more centralized.
These factors, combined with ETC’s unwavering commitment to immutability and its fixed supply, contribute to its significant long-term potential. Mining offers a strategic way to accumulate ETC, potentially at an advantageous cost basis.
The ETC Hash Mining Algorithm
A key feature of Ethereum Classic is its custom mining algorithm: ETC Hash.
When Ethereum (ETH) transitioned to Proof-of-Stake, Ethereum Classic needed to protect itself from potential 51% attacks from ETH’s leftover mining power. The solution was ETC Hash—a modified version of Ethereum’s former Ethash algorithm.
ETC Hash features a reduced and slower-growing DAG file size. The DAG is a large dataset used during the mining process. This modification allows miners using older GPUs with less VRAM (like 3GB, 4GB, and 6GB cards) to continue mining ETC effectively for a longer period.
This offers a significant advantage for smaller-scale or individual miners who may own such hardware or can acquire it inexpensively.
Choosing Your Mining Hardware
You can mine ETC efficiently using either dedicated ASIC miners or properly configured GPU rigs. CPU mining is not recommended due to its extremely low efficiency.
As the mining landscape becomes more competitive, ASIC miners are generally advised for optimal performance. Popular and effective ASIC models for ETC include:
- iPollo V1 Mini SE Plus ASIC Miner
- Bitmain Antminer E9 ASIC Miner
Before investing in hardware, always conduct thorough research on performance, energy consumption, and availability. 👉 Compare mining hardware and profitability metrics
Joining a Mining Pool
Solo mining involves a low probability of successfully mining a block and receiving a reward. Most miners instead join a mining pool.
Mining pools combine the computational power of many miners around the world to increase the chances of finding blocks. When the pool successfully mines a block, the reward is distributed among all participating miners, proportional to their contributed processing power. This provides a steadier, more predictable income stream.
In exchange for this service, pools charge a small commission, typically between 1% and 3% of the rewards.
Some of the most well-known and reliable mining pools for Ethereum Classic include:
- 2Miners
- Ethermine
- F2pool
- Antpool
- Poolin
When selecting a pool, consider factors like reliability, fee structure, payout frequency, and server locations.
Frequently Asked Questions
Is mining Ethereum Classic still profitable?
Profitability depends on several variables: the price of ETC, your electricity cost, the efficiency of your hardware, and the overall network hash rate. Use online mining calculators to estimate potential earnings based on your specific setup.
What is the best wallet for my mined ETC?
You need a secure ETC-compatible wallet to receive your mining rewards. Options include hardware wallets (like Ledger or Trezor) for maximum security, or reputable software wallets. Always ensure you control your private keys.
Can I use my old GPU to mine ETC?
Yes! A key benefit of the ETC Hash algorithm is its support for older GPUs with limited VRAM. If you have a 3GB, 4GB, or 6GB card, it may still be viable for mining ETC, though profitability should be carefully calculated.
How does ETC’s fixed supply affect mining?
ETC has a fixed maximum supply of 210.7 million coins. Block rewards will continue to decrease over time until all coins are minted. Eventually, transaction fees will become the primary incentive for miners, ensuring the network’s long-term security.
What’s the difference between mining ETC and ETH?
Ethereum (ETH) has transitioned to Proof-of-Stake and can no longer be mined. Ethereum Classic (ETC) remains committed to Proof-of-Work mining, making it one of the leading options for GPU and ASIC miners interested in smart contract blockchains.
How do I start mining ETC?
To begin, you will need suitable hardware, mining software (like lolMiner or TeamRedMiner for GPUs), an ETC wallet address, and a chosen mining pool. Configure your software with your pool’s details and your wallet address to start contributing to the network. 👉 Get started with a detailed mining setup guide
Conclusion
Mining Ethereum Classic is a powerful way to contribute to the security and decentralization of a foundational smart contract platform. It represents a tangible business opportunity with the potential for monetary reward through block subsidies.
By understanding the network's algorithm, selecting the right equipment, and joining a reliable pool, you can effectively participate in upholding one of cryptocurrency’s most principled projects. As the ecosystem evolves, miners will continue to play a vital role in the future of Ethereum Classic.