Mining isn't profitable anymore at least for the average user, if you want to profit with mining
you should build a farm investing 200000+$
Topic: Do people who rent out Mining hardware earn profit? (Read 1582 times)
Thank you for all your quick replies. 
Does anyone have a close estimate of the Break even time?
Does anyone have a close estimate of the Break even time?
Unless you have a very cheap electricity, you can hardly break even with those miners now with the rapid increasing difficulty.
Even with free electricity most miners will never yield a positive ROI ever again.
Thank you for all your quick replies.
Does anyone have a close estimate of the Break even time?
Does anyone have a close estimate of the Break even time?
Unless you have a very cheap electricity, you can hardly break even with those miners now with the rapid increasing difficulty.
Those people who sell their hash rate make some decent money by doing to I guess. It's a more stable stream of income than trying your luck in the mining game. It's more predictable and businesses tend to prefer that!
Not anymore, selling hash rate price is dropping badly..
Yeah because people actually start to realize that they're losing money by buying hash rate at those companies. Also, the difficutly is, again, rising a a worrying speed. So a single GH/s is worth less every day!
Those people who sell their hash rate make some decent money by doing to I guess. It's a more stable stream of income than trying your luck in the mining game. It's more predictable and businesses tend to prefer that!
Not anymore, selling hash rate price is dropping badly..
Those people who sell their hash rate make some decent money by doing to I guess. It's a more stable stream of income than trying your luck in the mining game. It's more predictable and businesses tend to prefer that!
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If i have to analyze it.
The person who owns the devices would be mining himself if it really is profitable. compare to leasing those devices which limits his earnings.
The person who owns the devices would be mining himself if it really is profitable. compare to leasing those devices which limits his earnings.
It's logical but in practically/reality, leasing rig is more profitable. I checked using BTC profitability calculator.
Kindly,
MZ
https://bitcoinwisdom.com/bitcoin/calculator is a good calculator. A good choice is to set the difficulty increase to around 20%, however, it cannot always increase 20% therefore, it should only be used as a rough estimate.
Renting out mining hardware profits provided that people want to rent them either to test their pool or mine for fun. Wise people wouldn't buy them with the intention of profiting.
Renting out mining hardware profits provided that people want to rent them either to test their pool or mine for fun. Wise people wouldn't buy them with the intention of profiting.
20% used to be the minimum increase in difficulty per 12 days, man. Those were crazy times! If ASICMiner really sets up new hashing data centers of 60 PH/s, the difficulty will skyrocket, man! All the other miners will have to shut off their gear, man!
https://bitcoinwisdom.com/bitcoin/calculator is a good calculator. A good choice is to set the difficulty increase to around 20%, however, it cannot always increase 20% therefore, it should only be used as a rough estimate.
Renting out mining hardware profits provided that people want to rent them either to test their pool or mine for fun. Wise people wouldn't buy them with the intention of profiting.
Renting out mining hardware profits provided that people want to rent them either to test their pool or mine for fun. Wise people wouldn't buy them with the intention of profiting.
20% used to be the minimum increase in difficulty per 12 days, man. Those were crazy times! If ASICMiner really sets up new hashing data centers of 60 PH/s, the difficulty will skyrocket, man! All the other miners will have to shut off their gear, man!
Thank you for all your quick replies.
Does anyone have a close estimate of the Break even time?
Does anyone have a close estimate of the Break even time?
You should use a mining calculator where you can input your hash rate, the amount of fees or electricity you pay and the expected rise in difficulty (which is high, never forget that! And it's a compound difficulty increase!!!)
Renting out mining hardware profits provided that people want to rent them either to test their pool or mine for fun. Wise people wouldn't buy them with the intention of profiting.
Thank you for all your quick replies.
Does anyone have a close estimate of the Break even time?
Does anyone have a close estimate of the Break even time?
No. Depends on device, price, market price, needed cables/psu, electricity consumption, bitcoin price and other stuff.
So no. Do the damn calculations yourself. If you don't know how to do them, you probably shouldn't invest in mining equipment.
I've seen a lot of people lending out mining hashes from new mining hardware they've just purchased.
I have a question; Do they actually earn profit? (Not in like 10 years but within a month or so)
Thanks in advance
I have a question; Do they actually earn profit? (Not in like 10 years but within a month or so)
Thanks in advance
The people renting their hash rate or miners to other people most likely do make a profit. Why would they do that otherwise? I think the people buying or renting the hash rate are the people that may be get left behind, since they don't always even make their initial investment back!
Thank you for all your quick replies.
Does anyone have a close estimate of the Break even time?
Does anyone have a close estimate of the Break even time?
You should use a mining calculator where you can input your hash rate, the amount of fees or electricity you pay and the expected rise in difficulty (which is high, never forget that! And it's a compound difficulty increase!!!)
Thank you for all your quick replies.
Does anyone have a close estimate of the Break even time?
Does anyone have a close estimate of the Break even time?
I've seen a lot of people lending out mining hashes from new mining hardware they've just purchased.
I have a question; Do they actually earn profit? (Not in like 10 years but within a month or so)
Thanks in advance
I have a question; Do they actually earn profit? (Not in like 10 years but within a month or so)
Thanks in advance
You mean whether the people who are renting the hash rate to other people profit??? Well, I guess they're about the only ones who profit here. Thing is, they're smart... They can rent their hash rate to other people and get a fixed price for that. So they won't have to worry about the BTC price or the difficulty. It's a smart thing!
Definitely a good option, especially considering the electricity bills that come at the end of each month. Not including the miner itself, which also costs a good amount of money. Plus if you are not really sure whether to invest in Bitcoin or something else, this a nice way to experience the cryptocurrency concept.
I've seen a lot of people lending out mining hashes from new mining hardware they've just purchased.
I have a question; Do they actually earn profit? (Not in like 10 years but within a month or so)
Thanks in advance
I have a question; Do they actually earn profit? (Not in like 10 years but within a month or so)
Thanks in advance
The profit is higher then mining, so yes..
Can't say if they profit, but at least they lower they risk because they have a pre-determined income from the hash power, also they surely sell the hash for more than they would obtain mining popular coins.
So it is a better business than just mining, I guess.
So it is a better business than just mining, I guess.
Yeah guaranteed payments for the renting period is a huge advantage. Didn't think about that.
Can't say if they profit, but at least they lower they risk because they have a pre-determined income from the hash power, also they surely sell the hash for more than they would obtain mining popular coins.
So it is a better business than just mining, I guess.
So it is a better business than just mining, I guess.
As people that rent those devices think they can target coins that have a higher return than they pay, they will overpay for it. So as a machine holder, it would be better to rent out. Still doesn't guarantee a positive ROI overall for your investment.
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