Hi guys I was reading news that for the first time Bitcoin mining has not been profitable for the big miners who run millions of dollars of machines and that sucks to them. Cause they have very big expenses.
These are difficult time for miners, especially miners who have invested a lot into mining equipment running into millions of dollars. There is an increased cost for energy, an increase in demand as well, and dwindling supply. If some of these miners are not careful, they will be spending more especially on energy than getting value for what they have invested. How can miners be careful? by applying proper business risk management strategies which I believe that anyone has invested millions in mining must have taken time to understand the dangers in his investing in mining and how to control and manage situations well. The major question now is no longer about 2022, but the coming year 2023, will mining be profitable in 2023? 
Topic: Is mining Profitable in 2022? - page 2. (Read 542 times)
If we are not talking about a few asics for the house and garage, which perhaps no one will know about, but about a container of 100 asics, then there is a problem with the electricity supplier.
In Europe, miners are banned from doing business due to a shortage of electricity. If we talk about Russia or Kazakhstan, then there are questions about the safety of equipment.
What will be the cost of Bitcoin mining in 6 years in 2028? I think about $50,000 minimum. Is it better to buy bitcoin?
In Europe, miners are banned from doing business due to a shortage of electricity. If we talk about Russia or Kazakhstan, then there are questions about the safety of equipment.
What will be the cost of Bitcoin mining in 6 years in 2028? I think about $50,000 minimum. Is it better to buy bitcoin?
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I think all of this should be discussed in the altcoin section since OP also specifically mentions Bitcoin mining. Regardless, the market will find equilibrium sooner or later so OP doesn't have to worry about it. I've seen a lot of doomposting about Bitcoin mining (and how it will impact its network) since months ago with or less the same question. OP might want to search about it if he is worried about Bitcoin.
yeah and btc is now up just a bit. Maybe we turn a corner soon. 22k would look good to a lot of miners.
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I think all of this should be discussed in the altcoin section since OP also specifically mentions Bitcoin mining. Regardless, the market will find equilibrium sooner or later so OP doesn't have to worry about it. I've seen a lot of doomposting about Bitcoin mining (and how it will impact its network) since months ago with or less the same question. OP might want to search about it if he is worried about Bitcoin.
Yes, electricity has become the hardest one for crypto mining, and that ETH went to PoS.
Even so, I have started to see much new stuff for ex Chia, there you have some low-power raspberry that can make runt like very low power.
We also have Kaspa, which has been proven to run the GPU cards on very low watts.
And this is like virtual mining NFT:s that are coming.
All in all, if you diversify on different types of mining you maybe could be okay
Even so, I have started to see much new stuff for ex Chia, there you have some low-power raspberry that can make runt like very low power.
We also have Kaspa, which has been proven to run the GPU cards on very low watts.
And this is like virtual mining NFT:s that are coming.
All in all, if you diversify on different types of mining you maybe could be okay
Hi guys I was reading news that for the first time Bitcoin mining has not been profitable for the big miners who run millions of dollars of machines and that sucks to them. Cause they have very big expenses. So I was saying that it means that this morning for low budget miners will be total loss and a lot of hard work.
In my opinion that Ethereum mining is also not profitable.
In my opinion that Ethereum mining is also not profitable.
there is no eth mining. It was ended in Sept 2022.
What is a loser for a large miner with tons of overhead and loans does not affect a small scale commercial miner much.
I turn a profit just way smaller than in 2021.
We have no debt and the spaces we use have quite a bit of solar power.
I apologize if I'm asking tactless questions.
Perhaps the unprofitability of production for large miners will affect the increase in the number of small ones, which will have a positive effect on decentralization.
I don't sell every single coin after expenses.
I don't hodl every single coin after expenses.
Sometimes I hodl almost everything I can other times I sell almost everything I can.
BTW it can be a hard decision as to the ratio of hodl vs selling the profits after the expenses.
Since my power deal is good my hard choices are how fast to expand and how much to sink back into expansion of the mine.
For now, due to the Bitcoin price drop mining is not profitable but depends on what unit/model and your power cost.
This is just the same as before someone said Bitcoin mining is dead but after the block halving miners who stay mining are making more profit than those people who just invested recently to buy miners.
The best advantage for miners while the price of Bitcoin is low is you can buy units at a very low price. You can either hold the units to resell in the future because I'm sure these units after block halving will be more expensive or either start mining today if you have pretty cheap power and stay mining then hold and wait for block halving to resell and sell your Bitcoin to fill your pocket.
This is just the same as before someone said Bitcoin mining is dead but after the block halving miners who stay mining are making more profit than those people who just invested recently to buy miners.
The best advantage for miners while the price of Bitcoin is low is you can buy units at a very low price. You can either hold the units to resell in the future because I'm sure these units after block halving will be more expensive or either start mining today if you have pretty cheap power and stay mining then hold and wait for block halving to resell and sell your Bitcoin to fill your pocket.
It always come down to power cost. If you have cheap or even free electricity than it is worth it. If not then it is in many case not worth it. You can only for example use the heat to heat your house, if you energy is to expensive and then have a profit still, since you dont need to pay for heating.
Hi guys I was reading news that for the first time Bitcoin mining has not been profitable for the big miners who run millions of dollars of machines and that sucks to them. Cause they have very big expenses. So I was saying that it means that this morning for low budget miners will be total loss and a lot of hard work.
In my opinion that Ethereum mining is also not profitable.
In my opinion that Ethereum mining is also not profitable.
there is no eth mining. It was ended in Sept 2022.
What is a loser for a large miner with tons of overhead and loans does not affect a small scale commercial miner much.
I turn a profit just way smaller than in 2021.
We have no debt and the spaces we use have quite a bit of solar power.
I apologize if I'm asking tactless questions.
Perhaps the unprofitability of production for large miners will affect the increase in the number of small ones, which will have a positive effect on decentralization.
Hi guys I was reading news that for the first time Bitcoin mining has not been profitable for the big miners who run millions of dollars of machines and that sucks to them. Cause they have very big expenses. So I was saying that it means that this morning for low budget miners will be total loss and a lot of hard work.
In my opinion that Ethereum mining is also not profitable.
In my opinion that Ethereum mining is also not profitable.
Of course, if we talk about miners tied to an outlet, we can talk about unprofitability in the current market, but it can also be considered as an investment, but large mining companies can be created on sites such as the electric power industry with excessive generation and be used, among other things, to compensate for reactive power and thereby, in addition to bitcoin mining, also provide stability as this energy node of the node and the system as a whole.
Hi guys I was reading news that for the first time Bitcoin mining has not been profitable for the big miners who run millions of dollars of machines and that sucks to them.
It depends on one's electricity cost but yes profitability has dropped from the times when the Bitcoin price was moving towards the all-time high. This was bound to happen, as it has been every bear marketIn my opinion that Ethereum mining is also not profitable.
Looks like you have not be following. Ethereum mining is now history. Hi guys I was reading news that for the first time Bitcoin mining has not been profitable for the big miners who run millions of dollars of machines and that sucks to them. Cause they have very big expenses. So I was saying that it means that this morning for low budget miners will be total loss and a lot of hard work.
In my opinion that Ethereum mining is also not profitable.
I think the biggest expense for miners is electricity bills. If you have cheap electricity, then you will be successful miners. But in many European countries, contracts for the supply of electricity are terminated with miners. It is very important to find a place with cheap electricity and not be kicked out of there. And Ethereum forks are not profitable now.In my opinion that Ethereum mining is also not profitable.
Hi guys I was reading news that for the first time Bitcoin mining has not been profitable for the big miners who run millions of dollars of machines and that sucks to them. Cause they have very big expenses. So I was saying that it means that this morning for low budget miners will be total loss and a lot of hard work.
In my opinion that Ethereum mining is also not profitable.
In my opinion that Ethereum mining is also not profitable.
there is no eth mining. It was ended in Sept 2022.
What is a loser for a large miner with tons of overhead and loans does not affect a small scale commercial miner much.
I turn a profit just way smaller than in 2021.
We have no debt and the spaces we use have quite a bit of solar power.
Hi guys I was reading news that for the first time Bitcoin mining has not been profitable for the big miners who run millions of dollars of machines and that sucks to them. Cause they have very big expenses. So I was saying that it means that this morning for low budget miners will be total loss and a lot of hard work.
In my opinion that Ethereum mining is also not profitable.
In my opinion that Ethereum mining is also not profitable.
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