This article will list the top six profitable mining pools for Bitmain Antminer L7, which are available right now.
The new Antminer L7 from Bitmain aims to be the most powerful miner for mining Litecoin (LTC) and Dogecoin (DOGE). The Antminer L7’s hash rate, which is 9500 MH/s, is comparable to 20 Antminer L3+, making it a basic model for Scrypt mining.
As long as the crypto is based on the Scrypt algorithm, you can earn a decent return from mining with the Bitmain Antminer L7.
As a batch of Antminer L7 (the best mining rig for LTC mining) entered the market, the LTC hashrate has edged higher, growing by nearly 20% in 15 days. ViaBTC’s Profit Calculator indicates that based on the current electricity price ($0.05), the net profit of one Antminer L7 is now is $15.1 per day. The growth of mining profit is not only driven by the constant iteration of mining rig technologies but also by the creation of merged mining.
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What is Merged Mining?
Merged mining refers to linking one or more low-yield cryptos to high-yield cryptos for mining fueled by the same hashing power. Under merged mining, miners only have to provide one type of hashrate to earn multiple rewards. Common pairs of merged mining include BTC + NMC, LTC + DOGE, etc. In particular, the market cap of DOGE has soared after Tesla’s CEO Elon Musk repeatedly recommended DOGE last year, and its price has grown hundreds of times, which is evidence of the incredible returns of mining LTC under merged mining.
As mentioned above, when used to mine LTC, Antminer L7 generates a daily net profit of $15.1. However, if the model is employed for merged mining (LTC + DOGE), based on the officially rated hashrate of 9.5GH/s, in theory, miners would receive 270 DOGE ($0.142*270≈$38.3), in addition to the 0.145 LTC gained per day. As such, the net daily profit generated by one Antminer L7 is approximately $53.4.
What are the best mining pools for the Bitmain Antminer L7? Let’s discuss this now.
What Can Antminer L7 Mine?
The newest state-of-the-art ASIC miner on the market is Bitmain’s Antminer L7 (9050Mh/s).
The Bitmain L7 has an extremely high performance with a maximum hashrate of 9050Mh/s for a power consumption of 3425W.
Antminer L7 can mine both Dogecoin and Litecoin, which uses the Scrypt algorithm and is one of the most profitable models available. Additionally, the Scrypt algorithm is supported by Antminer L7 for all cryptocurrencies. Therefore, you can also add the following projects: Florincoin (FLO), Auroracoin (AUR), Gulden (NLG), GameCredits (Game), Emerald (EMD), Einsteinium (EMC2), and many others.
Read more: Is Litecoin Mining Still Profitable?
Best Mining Pools for Bitmain Antminer L7
Here are the list of best mining pools for Bitmain Antminer L7:
- LitecoinPool.org – Best Litecoin Pool
- ViaBTC.com – Best for One-Stop Mining Services
- AntPool – Best for A Wide Range of Tools
- BTC.com – Best for Low Withdrawal Fees
- Zergpool – Best for Multiple Mining Options
- ProHashing.com – Best for Multiple Cryptocurrencies
LitecoinPool.org – Best Litecoin Pool
LitecoinPool is one of the most renowned and oldest Litecoin popular mining pool, launched in November 2011 by one of the main Litecoin developers that goes under the moniker Pooler.
It’s a pay-per-share (PPS) pool that also supports merged mining as well, which can yield the best results at times thanks to the mining of the secondary coin (payouts for both coins are carried out in LTC). Plus, with the PPS system, you are paid even if a block gets orphaned by the Litecoin network.
The pool’s eight servers, which are dispersed across the globe, are one of the primary factors in choosing it.
It’s also worth noting that this is one of the first pools to offer secure mining over TLS-encrypted Stratum connections.
With a hashrate of 32.6 TH/s, it is currently the fourth-largest LTC pool.
ViaBTC.com – Best for One-Stop Mining Services
ViaBTC is a Bitcoin, Litecoin, Ethereum, Ethereum Classic, Zcash, Dash, Monero, BTM, and Bitcoin Cash mining pool that always hovers at the top of the hash rate percentages. The mining pool for ViaBTC.com was launched in 2016.
The Antminer L7 is specifically designed to mine Scrypt-based cryptocurrencies like Litecoin and Dogecoin, so it should work seamlessly with ViaBTC’s merged mining feature for those two coins.
The pool uses a portion of the mining revenue to raise money for account management, regular maintenance, staff salaries, risk management, and other necessary costs, such as those related to the mining farm, deployment, repairs, and staff salaries. 4% fee is charged for the PPS payment system and a 2% fee for the PPLNS. Profits are distributed daily at 0 AM Beijing Time (minimum payout offered by the ViaBTC site is 0.0001 BTC). Their user interface (UI) is also praised for being clear and helpful.
AntPool – Best for A Wide Range of Tools
AntPool was founded in 2014, is one of the largest mining pools operated by Bitmain, the manufacturer of the Antminer L7. The pool was founded by Xu Lingchao and Tian Xin and operates from China. The pool currently lets you mine a fairly solid number of cryptocurrencies, including BTC, BCH, LTC, ETH, ETC, ZEC, DASH, SC, XMC & BTM. In the past, there haven’t been many disputes regarding the reliability of this pool.
Antpool offers a PPS (Pay Per Share) payout model with a fee of 3% for Scrypt-based cryptocurrencies like Litecoin and Dogecoin. Payments are made every day between 08:00-16:00 (UTC+8) and are inclusive of Dogecoin income.
It also supports merged mining, which allows miners to simultaneously mine multiple cryptocurrencies using the same computational power. For Dogecoin, the rewards are distributed in PPLNS (Pay Per Last N Shares) mode, which means that miners are rewarded based on the number of shares they contributed to finding a block.
Three different mining contracts are available from AntPool. Additionally, it provides a wide range of tools, such as a native phone app, the APMiner Tool, tools for configuring worker IP addresses, and AP connectivity. The pool also has a user-friendly interface and a number of security features, including email alerts, wallet locks, and two-factor authentication.
BTC.com – Best for Low Withdrawal Fees
BTC.com is operated by Bitmain, the manufacturer of the Antminer L7. The pool is said to be the one utilized by past Bitcoin community members and the current most famous Bitcoin Cash promoter, Roger Ver. The pool, which is among the most well-known ones available, provides a native Bitcoin wallet in addition to a community-driven forum and related resources.
The pool operates on a Pay per Share model where the operator gives an instant, guaranteed payout to a miner for his contribution to the probability that the pool finds a block. regardless of how many valid blocks the pool finds. This model shifts the majority of the risk to the pool’s operator while allowing for the least amount of variation in miner payments. The pool offers users the opportunity to mine a variety of digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ethereum Classic, Grin, Beam, and Decred.
BTC.com has fees that range from 1.5% to 4%. There is typically a waiting list to get one of the three types of cloud mining contracts that the pool offers. It is one of the pools that provides a chance to make money by mining bitcoins. Each day, miners receive payments based on their contracts. Even though the community has differing views on Bitmain and its business practices, the pool is generally regarded as legitimate.
Zergpool – Best for Multiple Mining Options
Zergpool is a multi-algo pool with multiple mining options:
- You can mine to algorithm’s stratum address and in this case Zergpool with automatically switch between different coins on their pool. This can help increase the profitability of mining with an Antminer L7.
- You can mine the coin directly.
You can start mining right away on Zergpool without creating an account; all you need to do is set up a stratum, wallet, and password parameter with the currency you want to be paid in.
LTC payouts are made automatically every 4 hours for balances greater than 0.25 or 0.05 on Sunday. All balances in other currencies that are higher than 0.0001 BTC equivalent, or 0.00002 on Sunday, automatically payout every four hours. Network charges may occasionally increase significantly, and payment thresholds may be raised until there are sufficient payout candidates to justify payment. On the wallet page, you can see your current payout threshold.
ProHashing.com – Best for Multiple Cryptocurrencies
A mining pool that supports multiple cryptocurrencies called Prohashing pays miners in any coin. You can mine hundreds of coins on ProHashing, as they support SHA-256, X11, Scrypt, CryptoNightV8, and many other algorithms.
It uses the PPS payment model and was founded back in 2014 by three engineers. Prohashing also goes a step further by combining mining simultaneously to boost profits. They also provide additional comprehensive statistics, such as hash rate, number of miners, and mining efficiency. For anyone who owns a Scrypt miner, this is one pool that is recommended, the ability for payout in any cryptocurrency or even USD via Coinbase is excellent.
Read more: How to Use BITMAIN ANTMINER L7 (9.5Gh) on Mining Pools: Comprehensive Guide
How to Choose a Mining Pool?
What factors should you take into account when picking the best mining pool to join? The majority of the points in the list of criteria below, like fees (the lower, the better), pool reputation, and uptime, are based on common sense.
Trustworthy pool operator ties into the pool reputation factor that we mentioned above. You don’t want to mine for con artists who will steal your money and flee. Do your research online and in mining and cryptocurrency communities to see if there are any bad reports or first-hand experiences with the pool. This is likely the most crucial criterion to look at.
Fees are self-explanatory; the lower the fees a pool charges for itself, the more money is left for you. Industry-standard is around 1% so anything around that figure is basically the norm.
When joining a pool, you certainly don’t want to be part of a pool that has just a bit more hash power than you. In order to mine many blocks and ensure a regular minimum payout, you want the pool to have a high hashrate.
Server location and uptime – location plays a role because of the latency – you need to be quick in broadcasting that found block, especially when mining a coin with a huge hashrate and big mining difficulty.
Like with regular websites, downtime costs the owner money. Uptime is important. Same with mining pool servers – if they are offline, all miners in the pool lose money as nothing gets broadcasted to the blockchain.
Payout schedule is also a minor factor. It depends on the person because some prefer a few larger payments while others prefer a lot of smaller ones. If you must choose, the latter is preferable because you would lose less money if something were to happen to the pool.
Payout schemes are also a condition to pay attention to. There are numerous payout designs, some of the most common are
- PPS – Pay Per Share. Each submitted share is worth a certain amount of BTC. Since finding a block requires shares on average, a PPS method with a 0% fee would be 50 BTC divided by. Operators of pools take a risk when doing this, so the fee is higher.
- SMPPS – Paid Per Share Maximum. Similar to Pay Per Share, but never pays more than the pool makes.
- ESMPPS – Equalized Shared Maximum Pay Per Share. Similar to SMPPS, but evenly distributes payments to everyone who is owed money.
- CPPSRB – Capped Pay Per Share with Recent Backpay.
- Prop. – Proportional. When a block is found, the reward is split equally among all workers according to how many shares each one has discovered.
- PPLNS – Pay Per Last N Shares. Similar to proportional, but regardless of round boundaries, focuses on the last N shares rather than the total number of shares in the round.
- Score – Score-based system: a proportional reward, but weighed by time submitted. As time t passes since the beginning of the current round, each share that is submitted increases in value. Score is updated as follows for each share: score += exp(t/C). This makes later shares worth much more than earlier shares, thus the miner’s score quickly diminishes when they stop mining on the pool. Rewards are determined in accordance with scores rather than shares. (at slush’s pool C=300 seconds, and every hour scores are normalized)
Summary: Best Mining Pool for Bitmain Antminer L7
Litecoin and Dogecoin are the most profitable coins to mine with the Bitmain Antminer L7, which uses the Scrypt algorithm. Additionally, you can be sure that the mining pools you use are reputable and secure by using any of the ones on the above list. When you select a pool that has servers close to where you are, you’ll also be guaranteed the lowest fees and the highest hash rate.
What is L7 Mining?
L7 is a newly launched product of Bitmain in November 2021, featuring high performance and low cost. Aiming to be the most potent miner for mining DOGE and LTC, the new Bitmain Antminer L7.
How Much Does An Bitmain Antminer L7 (9.5Gh) Make?
Of course, if you calculate the net profit, you also need to deduct the cost of purchasing the mining machine.
If you choose to host the miner, you will also need to deduct the hosting fee.