What Coins Can Still Be Mined in 2024?

Why Mining Isn't Dead

It may seem that the days of mining are numbered. After all, Ethereum, one of the biggest names in the industry, switched to PoS, and many blockchain projects are following the trend. However, mining is far from dead. While some coins have moved away from mining, others continue to offer substantial rewards to miners. The resilience of certain cryptocurrencies shows that the mining ecosystem is still thriving and can provide profitable opportunities for those who invest in the right tools and knowledge.

Bitcoin (BTC): The King of Mining

Bitcoin remains the largest and most well-known cryptocurrency that can still be mined. It operates on a Proof of Work (PoW) system that requires miners to solve complex mathematical problems to verify transactions and secure the network. Despite its age, Bitcoin mining continues to be profitable, especially for those with access to cheap electricity and advanced mining rigs like the Antminer S19 Pro.

One of the reasons Bitcoin mining persists is its robust network and clear path forward. Bitcoin's capped supply (21 million coins) ensures that there will always be demand, especially with halvings reducing the mining reward every four years. Although mining rewards have diminished over time, the increase in Bitcoin's value makes mining attractive to those willing to scale operations.

Litecoin (LTC): Silver to Bitcoin's Gold

Litecoin, often referred to as the "silver to Bitcoin's gold," is another coin that can still be mined. It uses the Scrypt algorithm, which is less resource-intensive than Bitcoin's SHA-256, making it accessible to smaller mining operations. With block rewards set at 12.5 LTC and a relatively lower difficulty level compared to Bitcoin, Litecoin remains a favorite among individual miners.

Why Mine Litecoin?
One of the main advantages of Litecoin is its faster block times—every 2.5 minutes, compared to Bitcoin’s 10 minutes—allowing for quicker transaction confirmations. In addition, its active development team ensures continued innovations and improvements, which adds to its long-term sustainability.

Dogecoin (DOGE): A Meme, but Serious About Mining

What started as a joke has now become a widely popular and valuable cryptocurrency. Dogecoin operates on the same Scrypt algorithm as Litecoin, meaning that miners who work on Litecoin can also mine Dogecoin. The block reward for Dogecoin is 10,000 DOGE, making it highly lucrative in terms of volume, even if the value per coin is lower compared to Bitcoin or Litecoin.

Dogecoin's appeal lies in its vibrant community, wide acceptance, and frequent mentions by celebrities like Elon Musk. This coin has an uncapped supply, meaning miners won’t have to worry about rewards diminishing over time, unlike Bitcoin.

Monero (XMR): Privacy-First Mining

Monero stands out as one of the few privacy-centric cryptocurrencies that can still be mined. Its unique RandomX algorithm ensures that it remains ASIC-resistant, making it a good option for CPU miners. Monero focuses on privacy and anonymity, making it a favorite for those who prioritize secure, untraceable transactions.

Why Choose Monero?
Monero’s dedication to privacy ensures its strong demand in sectors where anonymity is crucial. Since it is ASIC-resistant, smaller miners using CPUs or GPUs can still compete effectively, keeping the network decentralized and accessible.

Ravencoin (RVN): The Asset Transfer Blockchain

Ravencoin is a lesser-known cryptocurrency designed to facilitate the transfer of assets like tokens or securities. Its X16R algorithm is ASIC-resistant, meaning it can be mined using GPUs, making it more accessible to hobbyist miners. Ravencoin’s primary appeal is its focus on tokenizing assets, offering a different use case than many other mined cryptocurrencies.

Why Consider Ravencoin?
Ravencoin has a niche purpose that appeals to those interested in asset tokenization. Its ASIC resistance ensures decentralization and fair mining competition. With a block reward of 5,000 RVN, miners can still accumulate a significant amount of coins despite its relatively lower market value.

Ethereum Classic (ETC): The Original Ethereum Vision

Although Ethereum transitioned to PoS, its predecessor Ethereum Classic remains a mineable cryptocurrency. It uses the same Ethash algorithm that Ethereum used before its merge, making it compatible with many of the same mining rigs. Ethereum Classic has maintained the original Ethereum blockchain, attracting those who believe in the initial vision of a decentralized, immutable ledger.

Why Mine Ethereum Classic?
Ethereum Classic offers an opportunity for miners who already invested in Ethereum mining equipment to continue earning. Its solid community and active development ensure that it remains a viable mining option.

Zcash (ZEC): Privacy Meets Mining

Zcash is another privacy-focused cryptocurrency that can still be mined. Using the Equihash algorithm, Zcash offers ASIC miners a chance to profit. The coin’s focus on optional privacy—allowing users to decide whether to shield their transactions—has made it popular among those concerned about financial privacy.

Vertcoin (VTC): A True Decentralized Mining Experience

Vertcoin is built to resist the centralization of mining by being ASIC-resistant. It uses the Lyra2REv3 algorithm, which is designed to be accessible for GPU miners. This coin’s focus on decentralization ensures that mining remains democratic and inclusive.

Why Vertcoin?
Vertcoin is perfect for smaller-scale miners who are committed to decentralization. Its community-driven approach and commitment to ensuring that no single entity can dominate the mining process make it an appealing choice.

Grin (GRIN): A Minimalist's Dream

Grin is an interesting cryptocurrency that uses the Mimblewimble protocol, which offers a unique take on privacy and scalability. Grin is also mined using the Cuckatoo32 algorithm, which is relatively complex but still accessible to miners with the right equipment.

Why Grin?
Grin focuses on privacy, simplicity, and scalability, and it has an uncapped supply, meaning there will always be new coins to mine. The coin appeals to those who believe in minimalist, decentralized blockchains with strong privacy features.

Conclusion: Mining in 2024 Still Offers Rewards

While the landscape of cryptocurrency mining has shifted significantly, with many coins moving to PoS, several coins still rely on PoW and offer profitable opportunities. From the king of crypto, Bitcoin, to privacy coins like Monero and Zcash, miners in 2024 have a range of options. The key to success lies in selecting the right coin, having access to efficient mining hardware, and ensuring that operational costs, especially electricity, are kept low.

For those still willing to invest in mining, the game is far from over. The blockchain space will continue evolving, but mining remains a cornerstone of decentralization and security in the cryptocurrency world.