How does the profit switch work?

Profit switch is an advanced function for all GPUs or ASICs owners that want to switch to a different coin or multi-algo pool when the estimated reward of that coin increases. The estimated reward is calculated regarding the block reward, current difficulty, current coin price or regarding the reward information the multi-algo pools report to us through their API. Because there are other factors that affect the price and mining, profit switch contains different settings options.

How to set up profit switch for GPU rigs?

  1. Define the pools and wallets between which you will switch in the address editor.
  2. Go to profit switch and select worker.
  3. Add coin, pool, wallet, pool's fee, and mining client. In case you want to control the choice of mining client and its configuration on your own, select the mining client from the drop-down menu. If you will select a different mining client than Autoselect, don't forget to edit the configurations to fit your requirements.
  4. Add the algorithms' hashrates, power consumption, and ClockTune profile. Hashrate is required, the other two values are optional.
  5. Enter the electricity costs.
  6. Set the minimum difference when you want to switch.
  7. Set the minimum mining time.
  8. Select the reward method.

How to set up profit switch for ASIC?

  1. Define the pools and wallets between which you will switch in the address editor.
  2. Create a new config template with your ASIC's config.
  3. Go to profit switch and select worker.
  4. Add coin, pool, wallet, pool's fee, and select ASIC for mining client.
  5. Click on the wrench icon and load your ASIC's config from the config template.
  6. Set the correct pool and wallet and apply changes.
  7. Add the algorithms' hashrates and power consumption. Hashrate is required, while power consumption is not.
  8. Enter the electricity costs.
  9. Set the minimum difference when you want to switch.
  10. Set the minimum mining time. Please note that ASIC usually takes a little bit longer to reboot, so select minimum mining time according to that (for example, 3 hours).
  11. Select the reward method.

You can also find a detailed tutorial on our Medium post:

Profit switching pool

You can use any pool on minerstat's profit switch - either a regular coin or multipool. The multipool profitability depends on the data the pool sends us every 10 minutes, but you can quickly check it and compare it with coin directly on our mining calculator. When setting up a profit switching pool, take into account:

  • The pool's fee;
  • The pool's payout scheme (PPS, PPLNS, etc.);
  • The pool's payout schedule.

Profitability & profit switch