Let's say you spent $5k and bought 10 SP20's, approximately you now have 17 THS which is nothing to sneeze at but it's still a tiny drop in the bucket compared to the whole hashrate of 300+ PHS.
Your 10 SP20's will make about 6 BTC a month; however, diff is on the rise and you have to assume will continue to rise at about 10% every 12 days or so.
You may never recoup your initial investment of $5k.
You should fear that you may be entering bitcoin mining a bit too late, the go-go days are long over.
Topic: Noob to Bitcoin Help (Read 693 times)
Is it profitable to mine bitcoin ( do not count in Electricity).
That's a silly notion. Of course it's profitable to mine if you don't have any other reoccurring expenses outside of the initial hardware purchase (e.g. electricity).
How much can I make maybe with my 5k-8k budget of hardware. Please help me with my choice of hardware too.
Ah yes, the most common questions posed to this subforum...the answers to which are already noted in some of the top threads in Mining Speculation. Good thing you already read through them all, right?
TL;DR - Revenue depends on the speed (and quantity) of the hardware and the network difficulty. Top recommended manufacturers: Spondoolies-Tech and BitMain.
I just found about Bitcoin mining and I know how it works. Is it profitable to mine bitcoin ( do not count in Electricity). How much can I make maybe with my 5k-8k budget of hardware. Please help me with my choice of hardware too. And feel free to maybe put other statements to help me mine bitcoins.
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