Successful altcoin mining is now favored as an alternative to energy-intensive BTC mining. Investors primarily want to produce and earn coins for the future. When it comes to mining, several options are considered. Solana mining is definitely one of them. We have examined it for you in detail.
What Is Solana Mining?
Solana mining is a type of mining called cloud mining. Solana is based on the proof-of-history model. This model supports production not through deployments, but through mining pools or cloud systems.
Solana mining is done by renting servers equipped with Asic miners. For a certain rental fee, one receives a share of the profits from the production of farms (generating computers) in the cloud system. In this way, mining is carried out and profits are generated.
How To Mine Solana Coin?
The following steps are followed to mine Solana Coin:
First, a cryptocurrency wallet must be created where Solana Coins are stored. The mined coins can be sent to this wallet.
Next, it is necessary to access the addresses of cloud companies that rent servers equipped with Asic miners for mining over the Internet. These are platforms such as StormGain or Genesis Mining. You register on the platform of the selected company and after a certain time you sign a contract to start mining.
The final phase is as follows: After signing a monthly, daily or weekly contract, you decide to produce Solana Coin and start mining.
After these steps, production starts on the rented server and you get a certain share of the profits generated, depending on the time you earn mining income.
Is SOL Mining A Profitable Investment?
SOL mining is profitable. However, it is not possible to give clear information about the amount of coins earned. This is because profits vary depending on production time, mining difficulty, coin value and contracts. Since Solana Coin is mined in the cloud, the longer the contract period, the higher the profit. There is a difference between daily and monthly production quotas.
However, in this context, the following headline is worth noting: although SOL mining has made money per coin in recent years, the price of Solana has dropped significantly. Those who want to get into this mining business from March 2023 should know this.
