Your power buddy
Hold the pickaxe and right-click to open the Upgrade GUI. Hovering over the upgrades will show how many Upgrade Points it requires.
Efficiency increases mining speed.
Key Finder increases the chance to find hidden Mining Keys.
Scavenger increases the chance to find hidden Gemstones.
Midas increases the chance to turn nearby ores into the highest ore of that mine.
Explosive increases the chance to trigger a 5x5x5 explosion.
Lucky Block increases the chance to find virtual Lucky Blocks that can be opened by mining blocks (rewards $50k-200k).
Fortune increases the amount of minerals an ore drops.
Cluster Bomb increases the chance to trigger a cluster of four 5x5x5 explosions.
Prosperity increases the chance to grand 30 seconds mini boosters of x1.2 sell multiplier.
Drill increases the chance to drill a 7x7 hole to the bottom of the mine.
With that being said, you'll understand that mining is a lot more fun if your pickaxe is high leveled. To even more upgrade the experience, you can gather unique skins for your Miners Pickaxe (skins never reset!). Those are accessed through the blue button in the top-left of the GUI. There are currently 27 looks besides the default look. One being the Celestial Pickaxe (a Celestial perk), but all the other 26 are free to collect. All you have to do is /prestige to unlock one random skin. It will be added to your pickaxe automatically. And if you don't like the skin, just right-click it in the GUI to turn it into a Pickaxe Blueprint. Now you can freely trade or sell the skin to other players.
Mining with a regular pickaxe is too slow and time consuming. That's where the Miners Pickaxe comes in! The Miners Pickaxe is an upgradable tool that holds many custom enchantments. It is locked in your first slot, so you cannot lose it. It is also unbreakable, so it doesn't need repairing.
When hovering over the pickaxe, you'll see a lot of information is displayed in the lore. No worries, it's pretty straight forward and you will get used to it in no time! The overall level of your pickaxe is shown first. It is equal to the amount of Upgrade Points spend.
The amount of blocks you mined with this pickaxe + the next milestone is also displayed. You simply mine to reach these milestones and gather Upgrade Points. Below that is a summary of all your upgrades. Players can then hover over your item and see the stats.