Mining Ethereum Classic: Etchash Post-Merge
Ethereum Classic (ETC) is the chain that preserved proof-of-work after Ethereum’s September 2022 merge to proof-of-stake. ETC runs the Etchash algorithm — a slightly modified Ethash — and remains GPU-mineable, though dedicated ASICs are several times more efficient. This is the practical mining picture in 2026.
Why ETC kept proof-of-work
The 2016 DAO fork split Ethereum into ETH (the post-fork chain that became dominant) and ETC (the original chain that held immutability). When Ethereum’s main chain transitioned to PoS validators in 2022, ETC explicitly maintained PoW — the community’s position is that miner-secured blockchains are the original Ethereum value proposition.
The result: a smaller network with stable mining economics, ASIC-stable algorithm history (Etchash forks have specifically targeted GPU-vs-ASIC dynamics), and a community focused on the original Ethereum design.
Etchash vs Ethash
Etchash is functionally identical to Ethash with one tweak: the directed acyclic graph (DAG) size grows on a slightly slower schedule. The original Ethash DAG grew so large that consumer GPUs eventually couldn’t fit it in VRAM, making mining hardware-dependent. Etchash’s modified epoch length keeps the DAG smaller longer, preserving GPU competitiveness for years longer than Ethash would have.
For ASIC operators, this matters because Etchash ASICs can run more generations of the algorithm without being obsoleted by DAG size — extending hardware lifespan compared to Ethash-era ASICs.
Current hardware
| Model | Hash rate | Power | Notes |
|---|---|---|---|
| Bitmain Antminer E11 | 9.5 GH/s | 2,200 W | Current generation flagship |
| Bitmain Antminer E9 Pro | 3.7 GH/s | 2,560 W | Older generation, marginal economics |
| iPollo G1 | 1.5 GH/s | 500 W | Older, niche manufacturer |
The E11 is several times more efficient than equivalent GPU mining at the same hash rate (~0.23 J/Mh vs ~0.6 J/Mh for top GPUs). Single-rig capex is more affordable than equivalent SHA-256 hardware ($2,000 vs $3,500 for an Antminer S21 XP), making ETC accessible to smaller operators.
Older Antminer E9 / E9 Pro units appear in refurbished markets but inefficient enough to be marginal except on cheap power.
Network economics
ETC has lower total hash rate than Bitcoin and lower per-block rewards in dollar terms. Block reward: 2.048 ETC, halving every ~5 million blocks (~5 years). Network hash rate: ~250 TH/s (vs Bitcoin’s ~700 EH/s — about 3 million times smaller).
Your share of block rewards is proportionally larger per unit of hardware than on Bitcoin — meaning a small operator can capture a meaningful percentage of network revenue with a few rigs. This concentrates daily-payout volatility (more variance per rig vs Bitcoin pools) but average returns over weeks are solid.
At typical 2026 conditions:
- Antminer E11 daily revenue: ~$6–10
- Power cost at $0.06/kWh: ~$3.17/day
- Net: ~$3–7/day
When ETC mining fits
Several practical scenarios:
1. Lower capex, faster payback
An E11 at $2,000 with $3–7/day net pays back in 9–18 months — competitive with or faster than equivalent SHA-256 hardware. Lower upfront commitment for operators who want to test the mining workflow without committing $4k+ to a flagship Bitcoin rig.
2. Algorithm diversification
For operators primarily mining Bitcoin, adding an ETC rig provides revenue diversification. ETC price has historically had partial decorrelation from BTC during specific windows — particularly when post-PoS migrations or other Ethereum-specific events drive ETC narrative independently.
3. Belief in PoW continuity
If you have conviction that PoW chains have long-term value as the alternative to PoS-secured networks, ETC mining is a way to accumulate ETC at the marginal cost of electricity. The community thesis is durable; whether the market values it remains an open question.
What to skip
Don’t buy older E9 / E9 Pro generations — efficiency is too far behind the E11 for the dollar-per-watt math to work except in very-cheap-power industrial deployments. If you’re going to mine ETC, buy current-generation hardware.
Avoid GPU mining for ETC at this point. While technically still viable, the hash rate per dollar of capex is ~5x worse than ASICs. The only argument for GPU mining ETC is if you already have GPUs from other use cases (gaming, compute) and the marginal cost is just electricity.
Pool selection
2miners, F2Pool, and Ethermine all support ETC. Setup is identical to Bitcoin pool config — see our setup guide. Pool fee structures vary slightly; F2Pool’s PPS+ is the most predictable, 2miners offers PPLNS at 0% pool fee (variance compensated for low-fee pricing).
The honest summary
ETC mining has settled into a sustainable niche post-merge. Lower absolute returns than Bitcoin but lower capex too — the math works for a meaningful subset of operators. The Antminer E11 is the right hardware; older generations are better avoided.
For more on ETC: /coins/ethereum-classic/. For algorithm context: Etchash archive. For your overall miner choice: decision tree.