Epoch 176 Recap – General Profitability Update

TL;DR: Epoch Summary:

• Total of ~ 737 XMR + 6.5M XTM mined, translating to $208,700 profit.

• 91.5 billion QUBIC burned at an average of rate of $2,280 per B.

• Historic numbers to date: $2M / 1T Qubic Earned, 5,650 XMR Mined.

• Qubic remains significantly more profitable over Monero for miners.

• Monero experiment / mining is ongoing.

• Daily historic account of the epoch shared.

Profitability Against Peers

Qubic continues to be the most profitable CPU-mined coin. Below is a breakdown of the metrics maintained by a community member Eko in the Qubic Discord.

Epoch Earnings and Network Growth

In the most recent epoch, Qubic’s custom mining initiative generated an estimated 737 Monero (XMR) and 6.5 million Tari (XTM). These earnings, valued at approximately $208,700, were converted into 91.5 billion QUBIC.

A notable achievement for the Qubic network is the discovery of 9,273 Monero blocks. This demonstrates the network's consistent mining power and its growing influence within the Monero ecosystem. This consistency is a testament to the robust profitability of Qubic's custom mining operations.

Mining Profits Recap

As part of implementing the base layer for Outsourced Computations, Qubic is testing its capabilities by redirecting its vast compute resources to mine another coin, Monero. This is more than just about profitability; it is an "economic demonstration" to showcase Qubic's Useful Proof of Work capabilities.

Since our last general update (Epoch 171), Qubic's custom mining profits have not only increased but have also remained stable for the past four weeks. With current, much higher, and steady mining rate, these figures are projected to grow even faster.

Since the Monero Custom Mining initiative began, Qubic has mined 5,650 Monero blocks, resulting in earnings of $2 million, which translates to 1 trillion QUBIC.

Custom mining is a fundamental feature of the Qubic protocol, providing a steady revenue stream. At $30k - $35k profits per day this places Qubic among the top protocols on DeFiLlama's "Revenue by Protocol" list. As custom mining is just one of many ways Qubic generates revenue, the team is actively exploring additional methods to increase profitability and utility for QUBIC holders.

Monero Experiment Highlights

The Qubic team has been engaged in an ongoing "Monero experiment" to find the ideal balance between maximizing mining profits and maintaining the stability of the Monero network. The team found that the most effective strategy is to use a technique known as Selfish Mining rather than attempting a 51% attack. This approach allows Qubic to chase profits without negatively impacting other mining pools or the Monero infrastructure.

We're pleased to see that Monero's developers have introduced new security measures to protect their chain from potential threats. Our team is monitoring these developments and building countermeasure strategies. Ultimately, we believe Monero will make the right decision regarding a final, definitive protection method.

In a recent development, the Monero team has decided to engage in Selfish Mining themselves to increase their block production. We consider this a compliment!

Come-from-Beyond @c___f___b
If you gaze into the abyss, the abyss also gazes into you...
...Largest #Monero pools have colluded to fight against #Qubic's selfish mining with selfish mining.
Source

Qubic’s main goal remains mining Monero protocol for profit, while integrating functionality into further tests on other protocols.

 For more information:

• Join the discussion on Discord and Telegram.

• Join the Qubic network to become a Computor, miner, or innovator.