Тhe profitability of cryptocurrency mining is decreasing on the backdrop of this year’s persistently bearish markets but Coinhive seems to be doing pretty well. The browser-based miner has earned a quarter million dollars worth of monero in just one month, according to a new study conducted by German researchers.
The software mints monero, a leading privacy coin whose struggle to remain ASIC-resistant has resulted in several forks this year. According to the study, the miner has generated 1,271 XMR, or approximately $250,000 worth of monero, during the observation period of four weeks this spring.
At the current, lower prices of around $88 USD per coin, the amount is still substantial – over $110,000 USD. Coinhive is also estimated to mine 1.18 percent of all monero blocks with a median hash rate of 5.5M h/s.
Its developers receive 30 percent of every minted coin and the authors of the research claim that most of the commission is sent to a small group of people. Released in 2017, Coinhive was created to facilitate websites offering visitors ad-free experience in return for using their hardware to mine cryptocurrencies like monero. Read more from news.bitcoin.com…
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