Topic: What are small miners doing right now? - page 2. (Read 391 times)
I believe that the small miners who have only a few gpu or at most a rig have turned off or will turn off the systems given the disproportionate increase in energy there is no more gain
Mining crypto has to be well planned or choreographed, just like trading.
During times when coin prices or mining profits are so low, coins should be not sold and should instead be kept for the periods when crypto prices soar like the recent bull run. This means one has to prepare so well to be able to pay bills during crypto winter minus selling off the coins at low prices.
So even those small miners can make a kill if they plan accordingly.
During times when coin prices or mining profits are so low, coins should be not sold and should instead be kept for the periods when crypto prices soar like the recent bull run. This means one has to prepare so well to be able to pay bills during crypto winter minus selling off the coins at low prices.
So even those small miners can make a kill if they plan accordingly.
That is exactly what I did I made like 0.7 Bitcoin by mining with my friend in 2018 and we have about 0.22 in our wallet and the other we sold at February 2021 at 59.800 USD for a Bitcoin,invested in a modern mining rig 320 Mhsh now and got a lot of profit also for each one of us.That is why I suggest the small/home miners to continue mining even at a loss because who knows what the next bull run brings,it can make your lost money by paying expensive electricity come back and beside that even bigger profits on top of them.
Only those who mine coins as a hobby will keep mining even if profit isn't good anymore, either big farm owner or small mining rig owner it depends on how much they like what they are doing.
Mining crypto has to be well planned or choreographed, just like trading.
During times when coin prices or mining profits are so low, coins should be not sold and should instead be kept for the periods when crypto prices soar like the recent bull run. This means one has to prepare so well to be able to pay bills during crypto winter minus selling off the coins at low prices.
So even those small miners can make a kill if they plan accordingly.
During times when coin prices or mining profits are so low, coins should be not sold and should instead be kept for the periods when crypto prices soar like the recent bull run. This means one has to prepare so well to be able to pay bills during crypto winter minus selling off the coins at low prices.
So even those small miners can make a kill if they plan accordingly.
I would say if you have the miners and you are able to mine without spending money on cooling, do it. If you are mining unprofitably and having to run your air conditioner to keep your home comfortable to live in, you may want to consider powering them down and purchasing crypto instead of spending twice as much to mine it. If you are running a heater in your house to stay warm in the winter, then you should be using whatever miners you have at whatever electricity rate you pay. Too often I see people worrying about the cost of electricity and if their miner is profitable while running a heater all night and not worrying about the profitability of their furnace.
In short, if you can mine without making yourself uncomfortable or having to spend additional funds on cooling, do it.
In short, if you can mine without making yourself uncomfortable or having to spend additional funds on cooling, do it.
Small miners will be for sure mining if they are doing as an hobby , and yes you are right with mining in Germany if not have free electricity there is no profit.
I shot down most of the Miners back in 2018 also as the electricity costs was to high monthly and there was a loss.
Still have a few small miners running as i am doing it as an hobby .
I shot down most of the Miners back in 2018 also as the electricity costs was to high monthly and there was a loss.
Still have a few small miners running as i am doing it as an hobby .
That's a good advice but only reasonable if electricity bill is cheap, the smartest idea as a crypto miner is gathering your coins when value is not looking attractive, less difficulty equals to more quantities of coins, be greedy when others are fearful.
The profitability we know has reached almost an all time low where for 350 Mhsh you make like 12-13 USD a day but I wonder what are small miners doing and by small miners I mean home miners the ones with just one rig with 6 x Rx 470/480/570/580 and doing about 180 Mhsh or 6.5 USD daily if their electricity price is for example expensive like in Germany which goes up to 0.17 EUR/kwatt.
I think many of them have shut down their rigs but I was once in their shoulders in early 2018 but I kept on mining even at a loss and at 2021 that materialized in a really big profit for me.I advice such miners to keep mining even at a loss knowing that in the long term I only expect Bitcoin price to go upward.
PS.Talking about Ethereum mining here.
I think many of them have shut down their rigs but I was once in their shoulders in early 2018 but I kept on mining even at a loss and at 2021 that materialized in a really big profit for me.I advice such miners to keep mining even at a loss knowing that in the long term I only expect Bitcoin price to go upward.
PS.Talking about Ethereum mining here.
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