Topic: Is BTC mining still profitable? (Read 472 times)
eth mining is more profitable. But soon eth 2.0 and better to do something else. What other options are there for earning cryptocurrency?
Guys, is BTC mining still profitable?
I am beginner, och would like to start mining in small scale (in my room).
Of course, mining Bitcoin will bring you profits. High or low profit depends on how many Bitcoins you gain. But you pay all the costs before there is a profit like:I am beginner, och would like to start mining in small scale (in my room).
- Mining equipment purchase fee
- Equipment maintenance fee
_Operation fee includes electricity, internet, etc
_ Risks of other external factors (e.g. additional costs, increased electricity charges, etc.)
It's never too late to start mining bitcoin, even when it comes to the minimum set of equipment within your room.
In a room even pool mining is a complete waste of time, even if you manage to get a power outlet for an S9 or an Apollo or Terminus R606, or even just a bunch of NewPac USB miners.
Maybe fill the house with these kind of miners and then we'll talk.
It's never too late to start mining bitcoin, even when it comes to the minimum set of equipment within your room. But mining may seem super-profitable only at first glance (even if you have acceptable conditions for equipment maintenance and energy costs).
Nevertheless, the above listed advantages will still not be enough, do not forget that you will need to devote quite a lot of time to this process. In addition, the rainy season will begin very soon in China, which will significantly affect the already quite high hashrate of Bitcoin. In any case, good luck in your endeavors.
Nevertheless, the above listed advantages will still not be enough, do not forget that you will need to devote quite a lot of time to this process. In addition, the rainy season will begin very soon in China, which will significantly affect the already quite high hashrate of Bitcoin. In any case, good luck in your endeavors.
Really, I am quite curious about this because for a couple of years, I have tried to mine, but without success and now I want to try again, last time. At a minimum scale, dont think about level 69 
)
It is worth it? What should I do? Whats the first step? Or maybe lets get allied somehow....how does it sound?
) It is worth it? What should I do? Whats the first step? Or maybe lets get allied somehow....how does it sound?
Several times I thought about the topic of this topic and for myself came to the conclusion that you need to have sufficient patience, because it takes a relatively long time for the equipment costs to pay off and you start to get some kind of profit. And then this is in the ideal scenario, if you exclude unexpected breakdowns.
Guys, is BTC mining still profitable?
doesn't the fact that about 150EH worth of hashrate is mining bitcoin suggest that it's profitable? everyone who mines bitcoin using proper gear ends up making a profit but is it a net profit or not is what you should be asking, the other question which you should ask is whether there is something else to invest your money in which would yield more profit than mining, for an example, directly buying bitcoin.
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I am beginner, och would like to start mining in small scale (in my room).
IMO, it's not worth it, there is a minimum amount of work that needs to be done, also some down payment for the infrastructure, and of course failure rate which is very high with most bitcoin mining gears, having 1-3 mining gears is not feasible any more IMO, anything below 300-500th is going to be a waste of time, personally and after having gone through much trouble with mining gears, electricity, set up and all that, I can't do anything less than 1PH, I just think it's not worth effort.
I think so.
But bitcoin mining also requires a large cost because need so exprensive tool for task. If you plan for small budget, I thing you must think again before start bitcoin mining.
But bitcoin mining also requires a large cost because need so exprensive tool for task. If you plan for small budget, I thing you must think again before start bitcoin mining.
Yes, BTC mining is VERY profitable right now, IF you have some mining gear already.
If you don't have gear, then it's a risky investment because miners are selling at a HUGE premium right now (for example $15,000 for a top of the range Bitmain S19 Pro). This means you will have to pay VERY high prices for your mining equipment. This is fine IF (and only IF) the relationship of BTC value to mining rewards continues in such a way that you are able to recover the cost of your mining equipment (ROI) then enjoy profits afterwards. Unless you have a terrible electric rate, the time to ROI is typically around 1 year.
Where it becomes risky, is that there is no guarantee mining profits will continue at the current rate, in fact the nature of the system is that mining rewards typically decrease as time goes by. So it's quite possible you will fork out $15,000 for an S19 Pro, but then due to decline of mining rewards it takes 2 years to recover that $15,000 or much longer. If your electric rate is high, it may in fact never ROI.
If you don't have gear, then it's a risky investment because miners are selling at a HUGE premium right now (for example $15,000 for a top of the range Bitmain S19 Pro). This means you will have to pay VERY high prices for your mining equipment. This is fine IF (and only IF) the relationship of BTC value to mining rewards continues in such a way that you are able to recover the cost of your mining equipment (ROI) then enjoy profits afterwards. Unless you have a terrible electric rate, the time to ROI is typically around 1 year.
Where it becomes risky, is that there is no guarantee mining profits will continue at the current rate, in fact the nature of the system is that mining rewards typically decrease as time goes by. So it's quite possible you will fork out $15,000 for an S19 Pro, but then due to decline of mining rewards it takes 2 years to recover that $15,000 or much longer. If your electric rate is high, it may in fact never ROI.
... and of course the even more difficult issue ... getting reliable, usable, profit making miners.
Trying to by a current miner will make your $ disappear for 5 or 6 months and give ZERO return for that entire time.
Trying to by a current miner will make your $ disappear for 5 or 6 months and give ZERO return for that entire time.
And yet another again asking the unanswerable...
For some folks, yes it can be profitable. For most others it never has been and never will be.
1st, read the post pinned to the top of this section, mainly point-3
That out of the way, profitability all depends on what your power costs. BTC miners are very power hungry, very hot, and very loud. Not mention, currently very expensive.
Some folks with cheap power and a place to run the hot loud machines are in great shape to mine. Most other folks -- not so good.
Only YOU can make that call. Do your research on what mining involves, what miners cost, the amount of power they use and YOUR cost for power then do the math.
For some folks, yes it can be profitable. For most others it never has been and never will be.
1st, read the post pinned to the top of this section, mainly point-3
That out of the way, profitability all depends on what your power costs. BTC miners are very power hungry, very hot, and very loud. Not mention, currently very expensive.
Some folks with cheap power and a place to run the hot loud machines are in great shape to mine. Most other folks -- not so good.
Only YOU can make that call. Do your research on what mining involves, what miners cost, the amount of power they use and YOUR cost for power then do the math.
Guys, is BTC mining still profitable?
I am beginner, och would like to start mining in small scale (in my room).
I am beginner, och would like to start mining in small scale (in my room).
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