Topic: Is mining still profitable? (Read 5956 times)
I put almost everything back into my farm and I'm staying well ahead of the difficulty and growing. So, yes it is profitable for myself at 0.10 per kw/h.
Still profitable for the big farm and free electricity (pay by landlord). heh..
my number is about 150 with 0.064-0.068 elect and no overheat costs
but ppl are also going to think if its actually worth it. its not worth it industrially to break even, and its not worth it with minimal profit either
but ppl are also going to think if its actually worth it. its not worth it industrially to break even, and its not worth it with minimal profit either
I wonder how low the price of btc must get for even the large mining operations to stop before they're mining at a loss
I ran a few numbers through a spreadsheet I've been using for profitability calculations. Correct me if I'm way off here!Assuming electricity/facilities/manpower can be equal to approx. $0.05 USD (which you would generally only see in very large industrial operations, or very small private mining operations)
Assuming hardware efficiency of 0.7W/GHS (I'm using Bitmain as my standard here)
Assuming current difficulty of 35 Billion
Mining becomes unprofitable at a BTC price of around $58.50 USD
Alternatively:
Again assuming electricity/maintenance/etc equals $0.05 USD
Assuming hardware efficiency of 0.7W/GHS
Assuming current BTC value of $390
Mining would no longer be profitable once difficulty hits 233,500,000,000
Any thoughts or observations are welcome!
Your costs are in fiat and MUST be paid. So, when what you are producing has high vol to the fiat you MUST pay, approaching marginal cost production is very risky.
I wonder how low the price of btc must get for even the large mining operations to stop before they're mining at a loss
I ran a few numbers through a spreadsheet I've been using for profitability calculations. Correct me if I'm way off here!
Assuming electricity/facilities/manpower can be equal to approx. $0.05 USD (which you would generally only see in very large industrial operations, or very small private mining operations)
Assuming hardware efficiency of 0.7W/GHS (I'm using Bitmain as my standard here)
Assuming current difficulty of 35 Billion
Mining becomes unprofitable at a BTC price of around $58.50 USD
Alternatively:
Again assuming electricity/maintenance/etc equals $0.05 USD
Assuming hardware efficiency of 0.7W/GHS
Assuming current BTC value of $390
Mining would no longer be profitable once difficulty hits 233,500,000,000
Any thoughts or observations are welcome!
I wonder how low the price of btc must get for even the large mining operations to stop before they're mining at a loss
I believe its 0.05 kwh
I wonder how low the price of btc must get for even the large mining operations to stop before they're mining at a loss
No its not if you are doing it at your own expense(e.g. Electricity cost, hardware cost) but if you are doing cloud mining it maybe profitable for you.
The difficulty in mining is also increasing that it is hard to generate BTC and earn you more at expenses than income
The difficulty in mining is also increasing that it is hard to generate BTC and earn you more at expenses than income
Yup..I got Positive ROI After 5 Weeks with LTCGear
Scrypt mining is still profitable if you find the right deal (LTCgear) 
Is stay calm and keep peddling your motto?Wow that is awesome, do I still get to ROI after 5 weeks if I buy now?
The current ROI at LTCgear is about 6 weeks, still extremely good but no longer the 5 weeks it was a while ago
I don't want a 10 page answer please!!
Please make your answers as short as possible, a simple yes/no will do.
Please make your answers as short as possible, a simple yes/no will do.
No, no...
Yup..I got Positive ROI After 5 Weeks with LTCGear
Scrypt mining is still profitable if you find the right deal (LTCgear)
Is stay calm and keep peddling your motto?Wow that is awesome, do I still get to ROI after 5 weeks if I buy now?
Yup..I got Positive ROI After 5 Weeks with LTCGear
Scrypt mining is still profitable if you find the right deal (LTCgear)
Is stay calm and keep peddling your motto?
if you are a casual home miner the answer is no. if you are constantly tinkering and upgrading it still could be.
NO
I don't want a 10 page answer please!!
Please make your answers as short as possible, a simple yes/no will do.
Please make your answers as short as possible, a simple yes/no will do.
Since you want a short answer.
Answer: NO
With Bitcoin at $300, my Cyclone (22 MHs scrypt) is netting about $0.56 per day at nicehash rates, after electricity. If you add in cooling costs, I'm probably negative at this point...
Cloudmining is so stupid I cannot understand why anyone would do it. You are basically buying coins delivered in the future and you are paying more than if you just bought the coin and received delivery of the coin that day.
Also, if the price of BTC went up 10x I would suspect that many cloud mining companies would mysteriously disappear or go our of business, and people's paid-for virtual miners would stop hashing.Unfortunately it is approaching $250 this month.
Cloudmining is so stupid I cannot understand why anyone would do it. You are basically buying coins delivered in the future and you are paying more than if you just bought the coin and received delivery of the coin that day.
Also, if the price of BTC went up 10x I would suspect that many cloud mining companies would mysteriously disappear or go our of business, and people's paid-for virtual miners would stop hashing.
Like many other people posted mining is not profitable the way bitcoin price is and the way difficulty is. your best bet is to buy bitcoin if you have that desire. Otherwise i would use mining for investment purposes. What i mean is use a cloud mining site that offers you to sell the hashpower back. Do not get involved in any contracts where they do not offer a place to sell that hashpower back since those will not ROI and you would be better off just buying btc at the price it is now. If you cloud mine then resell it back you can make a decent profit if you time it right. If not you will still get dividends no matter how small they are.
The ONLY way that you can mine starting now and recoup the amount you have to pay for the miner is IF bitcoin rises. And if bitcoin rises, you would have been better off just holding your bitcoin or using the FIAT that you have to purchase the miner to buy the bitcoin.
Mining is basically buying bitcoins for future delivery (with a lot of volatility on the quantity of each future delivery). At prices below $500-600 and this current difficulty, you receive far more coins TODAY by just buying the bitcoin vs. buying a miner (and the coins from the miner will not be delivered at once).
Mining is basically buying bitcoins for future delivery (with a lot of volatility on the quantity of each future delivery). At prices below $500-600 and this current difficulty, you receive far more coins TODAY by just buying the bitcoin vs. buying a miner (and the coins from the miner will not be delivered at once).
Bingo!!!!
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