Is mining still profitable for individual people?

MATHReX

sr. member

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Quote from: Cajn1 on July 01, 2018, 01:42:23 AM

Hi. Wanna ask if mining still profitable this day? We know that mining requires a lot of energy(electricity).

Farm mining requires a lot of electricity at a cheap rate. Hobby mining with just one or two rigs, not that much. It's all about perspective nowadays, some are happy making a good amount, some are complaining about the profit drops and not having the same profitability like last year (probably the people who are in it for the money), a few are still here for learning and trying new stuff.

Geraldo

sr. member

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As a home miner, I can say for sure that I still on my track and getting enough profit from mining.

But a statement from one miner can't generally be shown that mining still profitable nowadays. It will depend on miners itself (isn't only about electricity cost [mine $0.15]) The most thing that affects mining profits is your way to do mining. As the miner, we were always facing many things that out of our control (such as market condition, devices regeneration, etc.) but the way you faced all of the situations will determine the outcome. Wink

butka

full member

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That's a good question. I guess you are asking about GPU mining. It could be profitable, depending on the country you live in, of course. But you have to factor in the price of the hardware, in case you don't already own some GPUs ready for mining. If you have to buy the hardware, you won't have any revenue until your mining profit has covered the price of your GPUs. It could be months or even a whole year to start making some revenue. And who knows what will happen with mining in one year's time. All in all, if you just want to get a feel about what mining means, start with a low investment in hardware and learn how things work. Then you may decide to scale, but you will have already figured out this business.

Cajn1

jr. member

Activity: 210

Merit: 1

Hi. Wanna ask if mining still profitable this day? We know that mining requires a lot of energy(electricity).

Topic: Is mining still profitable for individual people? (Read 194 times)