Bitcoin Forum

Hi,

Simple question. Is mining still profitable?

I know that mining was very profitable long time ago, but what about these days?
If it's still profitable, how much it cost to buy all equipments and how much its possible to make $ ?

Mining is not like  it was before and every day its getting harder & harder. mining alt coin is profitable if you can choose the right one and need less investment then bitcoin miners.

https://i.imgur.com/VNbsEAs.png



Source:

with the higher difficulty, we can not make profit unless we use high end hardware to mining bitcoin. but its different if we mining other coins because the other coins will have a good moment when we can see the price of that coins is increase in future. so i think, to mining the other coins is still profitable but we need to patience before we can take profit.

Depends 100% on what you pay for power.

not even that anymore, even with free electricity roi time is very long, unless you plan to sell back the equipment, the casual mining for bitcoin is done and not profitable anymore

low efficiency but relative small cost miner that mine sha256 are preferable i think, with a low investment you can direct them to other sha256 coin and early mine those for decent return

Short answer : Yes

Long answer the yes depends  on a lot of factors.

Power cost.
Gear Cost.
Gear reliability.

Give me 1000 dollars  and 5 cent a kilowatt I will make money

Hi,

-Simple question. Is mining still profitable?

-Well, pretty simple answer.Yes

Reason for the answer.People are still mining.

When mining wont be profitable most miners will stop and we're only going to have hobbyists and hobbits toying around with usb miners:).


If it's still profitable, how much it cost to buy all equipment and how much its possible to make $ ?
It can cost you from 100$ to 100 millions and you could make from 1 $ to 4 millions a day.

In short, mining is profitable if you have extremely cheap subsidized electricity (like Venezuela LOL), the latest antminer and a stable internet connection. Reselling miners will also help recuperate losses.

With asicboost compatible hardware is even more profitable, however if you are trying to enter to the mining industry you need to know one thing, never sell what you're mining and keep them until the price is at least double the current market price.

You either believe in bitcoin and it's bright future or not, but if you do then you'd know that you need to invest in mining for long term, it's more like a long-term bank plan where you deposit for 2-5 years to receive higher interest rate.

It depends how much do you want to spend to heat your house in the Winter
Those units produce a lot of heat so it can compete with electricity and mining but in the Summer better to sell em.

Yes.

But it all boils down to power consumption. If power is cheap or you have solar panels i'd say go for it.

Even without ASICS, you can earn by selling GPU hasing power. Checkout nicehash.com.

It can be profitable in theory but in practice home mining has become increasingly harder to profit from ever since bitcoin became more mainstream. Miners have kept getting bigger, more efficient but also more expensive too. Mining has come a long way ever since people could ming with their GPUs.

hmm......as of about 6 weeks ago I had 3000mh of scrypt pow mining LTC at 4.15 usd per LTC and making
about $980 month profit after electric..thinking my mining days were winding up.

NOW I'm up to 4000mh (with 2000 mh coming after May 15th) and LTC is at around $15

so er...yeah ..its profitable in the way ...if all the cars died and you had a herd of horses is profitable

dumb luck

Might be a small window now to get into mining yet before the difficulty blows up. But gonna be a close
thing imho. From 4.15 to 15 bucks LTC as an example...LOTS of equip is gonna get dumped in the next
months.

but again ...dumb luck is really what is going on here...


edit: to previous poster...I should put down that my stuff is in a data hall at about 8c kwh ..you may
have to do that to be safe if lower electric in the long term even with a few hobby units of whatever asic
flavor you can get your hands on

nowadays, the bitcoin mining business, is no longer profittable.
just check by yourself, a bitcoin profit calculator.
Asic miners consume a lot of electric current.. and in the last year, the difficulty,Has rised like a rocket...
an then, to calculate you ROI, you need to consider possible equipement failure, Power outages and whatever stop you mining business for hours or days...
and the roi, is going away

Due to difficulty nailing it hard for every miner, there are issues going on, based on which many communities were formed and fell apart too. Mining had been profitable once when least were into it, no one knew much about bitcoins and early birds caught the chances, but now the picture is completely different here as every one knows that mining is one way to make more bitcoins, so they are trying and adding up those costly hardwares which are making difficulty to march up towards some unexpected levels where it has become impossible for an average joe to go ahead and mine as the ROI time has gone way longer compared to what it used to be.

You can still make money by mining Altcoins.

I actually got BACK into mining just this year... going through Nicehash and using mostly RX480 GPUs I am seeing a nice ROI so far. The profits actually spiked quite a bit over the weekend and has so far maintained itself (about $4-5 per day per system with 2x RX480).

I'll have my hardware money back pretty quick (just a few months) -- then into profit.

** -- As a note I already had most of the "base" systems from previous mining and simply got new GPUs as I had sold most of the old ones (I had a ton of 7950s in 2013-2014). Although, I am going to build more from scratch since the profit really does seem to be there using Nicehash.

Beyond the energy power that you are going to spend, you haver to think that bitcoin it is a deflationary currency so it can still worth the invesent

Very profitable if you can produce your own electricity or you live were electricity is almost free. All the tools and software for mining is one time purchases but what you will need months, weekly and daily is power and maintenance. You just need to give it a trail sir.