Mining efficiency is nothing but how efficient crypto mining hardware is in mining cryptocurrencies in accordance with the resources it consumes, such as electricity. Simply put, mining efficiency is an indicator or measure of how efficient the mining hardware is in using computational power to mine your preferred cryptocurrencies and increase your chances of earning mining rewards, that is, profitability.

So, the more energy-efficient your mining hardware is, the better your mining profitability. That sums up the importance of efficiency. Now, let’s dive deep into learning more about mining efficiency and how to calculate it.