It is possible to mine cryptocurrencies using different CPU and GPU hardware. But, what about the possibility of mining with an iPhone? Would it be profitable? Is it possible? Well, there is a YouTube channel that has tried this out. Let’s see whether this is possible or not and if this is profitable.
An iPhone to Mine Cryptocurrencies
In order to be able to mine different cryptocurrencies with an iPhone, it is necessary a device with 64 bits. iPhone 5s and 6 are able to offer this without any problem. But how to do it? The iOS Developer Elias Limneos has created an application that allows iPhone users to mine cryptocurrencies.
The name of the application is Mobile Miner and can be downloaded from the app store.
“CryptoCurrency miner designed for your iOS device. MobileMiner is a CPU miner for ARM64 iOS devices created by well-known jailbreak enthusiast EliasLimneos. It’s extremely easy to configure and start mining directly from your iPhone, no jailbreak or special knowledge is needed. All you need to do is obtain a wallet address, install the app & start mining,” reads the App’s description.
Hash Power, Supported Cryptocurrencies, and Profitability
The Mobile Miner application supports Monero, Electorneum and many other virtual currencies. Bitcoin was not yet supported at the moment of writing this article.
The iPhone 6 has 25/30 Hash Rate (H/s), the iPhone 8 55 H/s and the iPhone X (iPhone 10) 65 hashes per second. While using the iPhone to mine, the CPU is used at 100 percent and the battery drains quite fast. But if it is charged, then it can be mining all day long.
Is it profitable to mine with an iPhone? According to the Youtuber that tried out mining with 60/70 devices, it is. During a year, at current cryptocurrency prices, $2,000 dollars can be made. Considering the investment and the electricity consumption, we believe that it is not profitable.
With less money invested, it is possible to acquire the same hash rate by buying two Nvidia Geforce GTX 1080 Ti. With the same amount of money used to buy the iPhones and start mining with them, it is possible to buy 50 Nvidia GTX 1080 Ti. It would provide with the possibility to mine 25 times more with the same money.
It may be an interesting experiment to do with iPhones. But it is not profitable. The opportunity cost of buying another kind of mining hardware is too high. I would rather go and by a good equipment for half of the money and have much more profits. But it is always nice to be able to mine some cryptocurrencies from your own iPhone.
Image Courtesy of Pixabay