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I have always been interested in mining cryptocurrency in a very long time and my biggest obstacle has always been the financial resources to purchase mining rigs and electricity required however remaining crypto-currencies became almost impossible for me because of the high cost involved and very low profit margin so I am pumped to ask that with the recent pumps in crypto prices and everything going to the moon is it profitable to mine Bitcoin in 2021 or any other altcoins please let me know.

As i know, the mining hardware price now skyrocketing and you need to spare your investment to pay electricity (For Long term investment or hodl strategy).
Ethereum Mining need more than 4 GB of VRAM to have a nice performance when Bitcoin need ASIC to do mining program.
For now its better to do trading than mining because if the price drop, your mining earning can be minus like in the past. Also as many miner decide to sell their hardware, the price of the hardware will falling down so hard.

There are some areas or countries where the electricity price is really expensive, so mining cryptocurrency may not that so profitable, or in all, you may just lose because of the expensive electricity.
And for me, if cryptocurrency you will mine will just sideways or up only these days, yes it is still profitable. Just read some stories about what happened in the last bull run 2017 - 2018, a lot of miners got REKT, especially for those miners who started at the peak of the run.

How profitable mining depends on the various factors. imagine when you are having a lot of hashrate power and you can generate very good daily profit from your mining. It can't be said when crypto gets pump and you will be profitable to mine crypto and this is not how it's working.

When the price increases the miners were putting more and more mining rig and that will make the difficulty will be increasing even higher too.

https://etherscan.io/chart/hashrate

It's an example and you must see that.
The difficulty will increase along with the pump that happened with the coin.

Mining rigs are expensive. I also wanted to do mine coins but there are just things to consider like electricity.

The ones that are easily mine are coins like IDENA because it just need solving a captcha and then you earn the coins which they consider mining. This could actually be a good coin to mine but needs constant monitoring since you have to solve arranging pictures which is how they are mined.

Yes mining is presently very profitable if you have free electricity or cheap electricity, also to get your ROI back faster you must mine every hour of every day, the most profitable coin presently is Ethereum

Getting paid for solving captcha and arranging pictures isn't real mining, this is like joining and claiming faucets like the old days, I've heard about IDENA through bounty campaign but never knew they would use this stupid idea as their mining strategy

You put the topic in the wrong thread bro, it should be placed here: https://bitcointalk.org/index.php?board=160.0


but I try to respond, you can visit this website
https://www.cryptocompare.com/mining/calculator/btc?HashingPower=40&HashingUnit=TH%2Fs&PowerConsumption=1500&CostPerkWh=0.12&MiningPoolFee=1

maybe this tool can help you to calculated before to starts mining bitcoin or other altcoins.

I believe it's kinda too late to start building mining rigs right now, even asic miners are skyrocketing in price, you can only get into crypto if you buy used cards and that's not advisable because used card can die on you at any time, a single RX580 8gb used to be around 170$ to 200$ in 2020 and now it's over 500$, for now look else where

I don't think a small player can make money mining these Big coins  and recently it is very difficult to see low to mid cap coin that is a Proof of Work (POW) project because of the 51 attack, if you have access o free or cheap energy you can give it a try but if not, I don't think it worth the try expect it is your hobby or betting on the future price of the coin

For me I prefer to do trading or staking. Less expenses on energy consumption plus not hassle to monitor and manage. But I'm sure there are some areas benefiting through mining.

I remember my friend, whom working on a computer shop. The owner didn't know that he is doing mining on the shop and the guy is literally doing a free expense mining. But that's not good. I found an article where country have very low energy fee just forgot where it is.

There is more mining coins than trying to go the easier way like staking, I am a computer engineer and I've loved everything about CPU and GPU since a very young age, been able to make money out of PC is cool and fun at the same time, also freedom of mining is better than staking

Mining is still profitable, but that is only if you can have a low fee in electricity and have the latest equipment for mining bitcoin or altcoin. Without that, I do not think you can get a nice return from the mining process. I know many of my friends who mining bitcoin and ethereum can't survive long because they need to pay the electricity cost, which is not too cheap. Besides that, I think you need always to upgrade your hardware to the new hardware, so you can get a nice reward from the mining.

I prefer to trading than mining because the money you want to use to buy the hardware will be useful for trading. Although you don't have high trading skills, you can expect to profit from trading, but you always need to try to buy low and sell high.

You need to set up many things before start mining, and that is not easy to do. The room for your hardware needs air conditioner to make the room doesn't heat because of the mining process.

Individual miners are killed by the companies. they're running their tons of rigs and process the blocks by themselves. In other words, it's better to invest on your time to learn and hone trading skill than buying an expensive mining rig. It's not profitable anymore except you run more than 10 asic miner.
And the most important thing is, it's not good for the earth lol. The usage of electricity is too high. I better invest on a pos coin because I love the earth.

I mine 0xMonero and Raven

In my opinion, there are advantages and disadvantages to mining crypto, how do we play it, because mining crypto every year has ups and downs so if we don't want to lose we have to mine properly and understand the work.

Think deeply about the cost of electricity before you start planning on building mining rigs, also know that it's not a good time to buy graphic equipments because they are too costly, you can use the money for gtx1660 today to buy two pieces of gtx1660 months ago

Mining is getting harder and harder and a lot of capital is required for this job. Many countries are taking measures for the electricity problem. I think mining in 2021 is a very difficult task, but you can make a good profit with altcoin investments.

for me it is no longer profitable. it's easier to trade them, than to mine. electricity costs, internet fees, and maintenance costs for RIGs are all currently considered. small results with large expenditures are not proportional to the profits. different when trading, the bull market makes all coins profitable.

I would not do that anymore.
It requires a huge capital to be able to start a new mining device.
Think about how long the ROI is?
Investors might be making profits right now by just buying Bitcoin rather than spending it with GPU's with prices that are soaring.
Trade or invest will be the better idea.

Remain optimistic that investment should be prioritized to achieve satisfactory results, especially for choosing coins to invest in as currently the price of BTC has jumped up this year from last year. This has become a target for all of us in mining BTC to make a profit, and I see several important business figures in the world have targeted their assets to invest in crypto. With this news, crypto will most likely benefit all, and of course, we have to look for strategies in taking action to choose crypto investments that are following current conditions.

electricity problems do affect mining. but if there are obstacles of course it will not be a constant obstacle. I think the miners are still active and still making money. just try stopping by one of the threads on this forum that discuss mining. will probably get a better solution.

Well said, electricity costs is something one must look into before buying and building a mining rig, you have to do your math accurately before taking any steps, I plan on mining for years so I ended up building a solar and big battery backup because electricity don't stay 24hours a day in my country

Mining is a long term investment and some times you get your ROI faster just because of bull season like the one we are in presently, you need to know how to keep your GPUs alive, the enemy of your mining rig is heat if you mine at good temp your GPUs will have a very very long life span and you will still end up selling them to gamers to upgrade to another card

Yes, this really needs to be taken into account because using electricity continuously without stopping can also be dangerous, especially if there are occasional blackouts in certain areas, the point is that this can still be tricked in several ways by some people.

If Crypto mining isn't profitable people won't be into the system, some are saying the high returns will not be here forever but the earlier the better, you can make almost your ROI before bear market takes over crypto space once again

Currently mining and my ROI is far away, if bear comes very soon it will take me longer to get my ROI back but I'm in for long and short term run though, whatever happens I'm ready, also electricity costs is something you must look into before buying miners or gpu

Coins that use the POW protocol will live exclusively on mining and nothing can change that. Therefore, mining is profitable and it will be profitable until these projects switch to another protocol.

Mining is certainly a profitable business, but very expensive. Good farms will pay off in a year at best. It is necessary to take into account the instability of the exchange rate; for a long time you can hardly make any profit at all. Of course, not everyone can be traders, it is easier for someone to mine. But I would invest money for a farm in Bitcoin.

The major problem currently facing the mining world is that of the costly electricity which has brought upon the miners more harsh and this made it not profitable again compared to the past. Those who where into the mining of Bitcoin in my country has folded up because of the electricity charges that the government brought upon miners, currently those who are not financially strong has closed their business and moved on-to new environment

A good source to check how much you can earn at the moment with mining with different gpu's is https://whattomine.com/
But generally you can say that if you have to pay for your electricity than it's probably not really profitable to mine especially when you also have to buy your gpu's for the full price first.
In that case i would just buy coins for the amount of money that you were willing to invest in a mining rig.. probably better.  :)

from what I know, most currently self mining is quite detrimental, but I don't know the real truth. However, if you think about it, owning your own mining equipment has many considerations, such as electricity costs, and maintenance costs, unless you have an alternative to that. Another thing to think about is, right now you need expensive hardware to mine, and mines currently don't produce much if you don't have the latest high-quality VGA rigs. however, the cost considerations are substantial. Personally, I might prefer dividend coins or stakes. however, what I'm currently doing is selecting coins that I think will develop in the future, and selling them at a high price.

Quite right, the mining business if you'll be doing it individually needs to consider a lots of factors before you take your step,
there are cost that may hurt your pocket if you don't do your research correctly.

If you don't have that much money, staking or trading might be much prefer. You are always have good options after you do
your own reaearch and study.

Miners are keep mining so mining crypto is still profitable. Estimating the cost and result is a must in mining. Considerations in electricity bills, Hardware to use, the cost of each GPU due to rising demand in the market, the ambient temperature in your location, and many more considerations are needed. Some crypto mining companies are heading out into the best geographical locations that have low electricity fees and cooler temperatures just to make sure they can get the ROI for a much shorter period of time.

If you feel mining isn't for you then find other profitable ways like trading or investing.

Yes, I think bitcoin mining is a profitable business these days but you should know that bad days will also come when there will be no profit and even loss especially during bearish market but at the moment as market is growing miners are making good money but we all know this business is not that profitable like it used to be in the past.

You are very late, one strategy that miners like to use is to dedicate some of their hash rate to mine coins that are not really well-known when the market is very stable, that way when the market begins to skyrocket they obtain very good profits, and while I think that there is still a lot of room for the market to keep growing up you are starting from a very high point in terms of price for most coins so I don't think that strategy is available to you and most likely you will lose money because you don't have experience with mining.

Like a members already said here, there are some countries where mining are less expensive due to less expensive electricity or the government don't care much like it is in my country, though I've never mined before neither do I have or own any mining rig, I wil still advice  that you be patient and wait for price to come down a bit before investing in mining rigs, to avoid unprecedented losses.

dude even a 280x/7950 from 9 years ago makes decent money, thats how crazy it is.

https://whattomine.com/ put in your hardware and electric price

Bluelogic

Yes it's worth all efforts right now, with just one gpu you can make ROI back in 4 months, even now that gpu price have skyrocket you can still make your ROI back in 7 to 8 months but that's if crypto bull run lives that long

It depends, if you live on a country that requests for high electricity fee it's better to consider staking coins instead because ROI depends entirely on your electricity bills, the lowe your bills the more profitable for you, also mining rigs now costs a lot, gtx1660 used to be around 180$ now it costs 450$

If you are ready to spend some cash why not? Crypto mining is Profitable for both long term and short term even if there is no more bullrun you can mine and keep holding instead of buying, it's pretty much the same but making cash out of PC parts is great

Yes mining is presently very profitable if you have free electricity or cheap electricity. The most profitable coin presently is Ethereum. But the truth is people are still setting up new mining ring because as the price of bitcoin skyrocket so is gas fees so mining is still profitable.

Given the current value of the cryptocurrency, mining is now very profitable. And this applies not only to bitkin, but also to the rest of the cryptocurrency. After ethereum reached the price of $1000, I took out my outdated hardware that I used in 2017-2018 with cards 1066 and resumed mining ETH.

Mining in n crypto is good investment if you have the knowledge of how to build pc, where to buy cheap equipments, if you have low electricity cost, and cold weather for gpu not to reach over heating anf many more factors. I have been mining for some time and it paid off. I guess it's one of the ways I help and support the chain. It's never too late, comr enjoy and have fun. By thr way I am mining with gpi cards (AMD).

if you want to mining Bitcoin then you need a bigger capital than you mining Ethereum, because mining Bitcoin can only use ASIC and the price is very expensive, but if you want to mining Ethereum then you only need VGA (minimum 6gb) and if the price of cryptocurrency go down (bear run), then you can sell your VGA, because there are still many people who are interested in buying a used VGA and VGA is not only used to mining Ethereum, while ASIC can only be used to mining Bitcoin and besides that the electricity used to mining Bitcoin is more expensive than mining Ethereum.

The subject of mining cryptocurrency right now especially bitcoin is something that is up for big debate because in some areas it is profitable and in other areas it is not profitable for example if you have cheap and stable electricity in very much supply then you can economically mine bitcoin and other crypto-currencies and make profit but if you don't have cheap electricity like most part of the world and you have to pay a lot for your legs so then bitcoin may not be profitable to mine right now however I believe it's taking and trading are much better ways of making profit quicker and faster in the crypto market

To some extent I disagree with this analogy because I believe that it is only the big mining firms that make a lot of profit from mining cryptocurrency and this is because no matter where you live in the world electricity is almost never trip so considering the carbon footprint of mining over the past few years I believe in enough for you to make good profit from mining cryptocurrency you have to be mining it on a large scale Farm an individual like you I would advise you focus more on staking or trading

I think so. But I read some article saying that there are some countries that is already using a high end mining rigs. So maybe if you will invest and buy that advanced and high tech. mining rig, there is a great potential waiting for you in crypto mining industry.

what exactly is that remaining cryptocurrencies your talkin about because there are thousands of them after the bitcoin and bitcoin is the only crypto that are hardest to mine but for the remaining you can possibly mine them effortlessly but dont expect that you can get a good return because their difficulty isnt also hard anyway but that should be enough for you because you only wanted to try and experienced what is like to mine your own coin but if you want to make mining a serious thing you need to join or apply to a huge mining business or work hard and buy the best mining equipment for your own personal use .

I am not sure mining today is very profitable, let alone using a PC or the like, many cryptocurrency projects are moving from POW to POS and DPOS. I don't really know consensus, but generally POS and DPOS consensus is the best consensus than POW because it mines coins without needing to use electricity. So, if there is something easier why mine with electricity?

With bitcoins being above 50,000 USD it might be profitable again for some people to mine coins. I think it depends on two factors. First if you have the right setup to mine. If you already have the hardware in place to mine the coins than you are better off. Buying all the infrastructure from scratch is very expensive. And the second factor is your energy bills. If you have access to cheap electricity than go for it. Otherwise the costs might be just too high.

I agree with you if mining Ethereum is very profitable for now, but in my opinion with gas fees and the current price of Ethereum, then of course electricity costs are not a problem, because I believe we will still get profit from mining Ethereum for now, so my advice is you better mining right now before it's too late, because if you do mining right now, then you will be quick to return the capital that you spend on mining.

Before mining Ethereum, make sure we have the equipment and to buy it, of course it requires a lot of capital,
even though the equipment can be said to be expensive, the profit from mining ethereum can cover the expenses,
what is certain is that it all depends on whether or not they are involved in mining

Yes crypto mining is currently very profitable, it's all about making back your ROI in short time, if you buy a gpu right now and you mine 24/7 I can assure you that in 5 months you would make your money back, yes crypto mining is that profitable right now, I bought a gtx1660 ti for 300$ and I've already made 150$ back right now, that's half of my invested money already

That depends on the various things, you are not even getting your ROI and that means that's not so profitable as you said dude, the question is how long you have been mining your coin? You are still 50% from your ROI. There is also possibility for the difficulty to increase again soon.
Mining is not so profitable as it was before due to the various reason just like price increase, demand for POS and many more.

Yes and no, if you are going to mine a coin with your low hash rate rig then you are going to make less than what you are paying for your electricity so mining need huge capital so that you can build multiple rigs to mine something which is valuable and also it depends on which coin you choose to mine. If you select ethereum then it is not going to be profitable for sure.

If mining isn't profitable then we can't see Bitcoin transactions being confirmed or any altcoins that needed POW for confirming transactions.  There are other low difficulty POW coins that are available to mine on the market which can really give us a good profit.  As long as you set up your own mining device and the electricity charges aren't high, we can assume that we can still say that mining is still profitable. 

If you're good at trading, you have to keep doing what you have started there. Because you know how to trade, you can make a lot from it and just as the same as in mining, they're also profitable.

Well, building a rig is one skill but after that, you just let your rig mine the coins for you.

Actually i have not fell any interesting for mining because i am very impressed for trading so almost lot of time i have been spend in trading. Anyway crypto is very profitable for mining so you can spend your cash. If you have good quality skills about mining then you can do. Crypto is worth but you should receive right choice.

I agree with you, there are many miners who have benefited from ethereum transaction fees which have increased to date. In the future miners will still be there to confirm every transaction using POW, unlike the POS algorithm, prices or shipping costs are no longer high because the miners only get a tip from each transaction.

Well yes it is profitable but not by any third party contract it will cost more. This time highly profitable for the miners and block providers.

Mining is always profitable but you have to select right platform. But at this time you have to bear more cost if you compare the condition of some days ago. In current situation, a lot of fake pool is creating. Don't trust in all the mining platform.

If you're profitable in trading, stay in there. There are miners that are not going to leave mining because it's profitable. I remember that during the bear market, many have stopped mining because they can't cover the fees for having the low in value of the coins that they mine.
But for those who have continued mining and just sustained the cost while keeping the mined coins, they're in great profit during this bull run. It's about patience and plan when you mine, it's always been profitable but you get the timing when to sell just like the traders.

The idea of having enough fund to cover all your expenses while holding those mined coins, if you can sustain that then you are good to go and continue dealing with mining.

There are people who understand things much deeper, they are capable of continuing as they know that eventually all those wait will be paid off, if you see any opportunities not with mining alone but in any space that you are willing to take your chance. Do things that you have a good understanding drive your way to successfully earned from any venue of investment.

It would be only for the ethereum miners who have already farmed a lot of money from the users consider the ethereum fees is very high at this moment too.
people who have been mining the crypto night didn't get a lot of profit as much as the ethereum miners.
It should be noted if this is for ethereum and bitcoin miners only who have got bunch of money.

Mining bitcoin requires a lot of capital, if you have a lot of capital then mining bitcoin is still profitable, but if you don't have large capital I suggest you don't mine bitcoin and choose to mine in other ways, such as holding coins that support staking, coins which uses PoS consensus created to solve the PoW problem because mining consumes a lot of electricity consumption.
Examples of coins that use PoS are like Zilliqa and Cardano, you only need to hold a few coins then you stake, and you will get more coins as a reward for holding these coins.

that's because currently, the price of ETH and BTC is good. if one day the price drops, it will not be a profit for the miners.
mining is indeed more suitable for long-term assets such as BTC and ETH. and I thought about how much profit they would have made if they were to mine ETH and BTC assets in the last 5-7 years. that is if they collect and they don't sell directly to the market.
Is it still mineable for ethereum after 2.0 is finished? If you can't, then the time to mine Ethereum may only be 2 years away.

For me, yeah i think it's still really really profitable to mine cryptos in 2021,

these days, with only VGA 1660 Ti Super, i can earn about $2-4/day, because the price of ETH is still expensive,
but the main problem is about the VGA itself, there's no way you can get VGA these days in such a short time,
it's really hard to buy it, every store i checked are out of stock, because everyone are mining.
even the price of VGA itself jump to the highest price.
so yeah, i think it's still profitable if we use our old VGA before the price is going up.

Before you can start mining, you need to prepare many things, including searching for what and how you will mining crypto because, with the difficulty of each coin that increases higher, you will need good hardware to mine the coin and earn the reward. That VGA price itself jump to the highest price, and you will need a lot of money to buy the VGA. If you only have one 1660 Ti Super, even if you can earn $2-$4/day, you should think about how much the electricity fee that you should pay every day or monthly.

You can't generalize if mining in another crypto will be giving the same result as mining on ethereum network. So many miners were going to the ethereum. When you are seeing another crypto just like monero and mining monero is not so profitable as ethereum. The tx cost is very cheap.
The only miners on ethereum that already got almost 1 billion profit in a year. it's still profitable as long as the thread starter has enough hashrate to generate profit.

I've been mining ethereum since 2017, periodically shutting down the hardware when it wasn't cost-effective. Even now, using outdated 1066 cards, I get a good income due to the fact that the price of ethereum and the commission on the network have increased to the maximum value.

Personally, I think that mining is very profitable at this time. But good mining requires great hardware. But the price of the equipment is very expensive and it takes a lot of time to recoup the money invested. And from everything we can conclude that mining is becoming a very unprofitable activity. So you need to reconsider all the methods and make money on other options. But if after a while they come up with new methods of mining, then it will be an amazing invention for a new type of mining.

I don't know what you are talking about, but in 2017 my video card was mining $ 2 per day. I recently started mining again to check the profitability and it's a miracle my video card is mining $ 2 per day again. Sometimes mining reached $ 3 per day, I don’t know what it depends on, but the profitability did not fall.

what assets do you mine?
I think a lot of the size also depends on the device you are using, of course, the block that is there when mining.
but related to mining costs, is it still profitable for you to earn $ 2-3 per day?

It's about their understanding about the situation and tolerance as well. They knew what they're doing and they have a contingency plan if ever something goes wrong and comes unexpectedly. They held those mined coins for a long time because they're passionate with what they do.
Passionate in mining and believes in the coin that they're mining. That's why those miners who get to earn good this bull run didn't went there easily. Because they've been patient and also sustained a lot while continuously mining even it's not profitable during the bear market.

I have never tried mining any cryptocurrency before, reason is becuz mining crypto are quite expensive lately and requires alot for you to be able to make a good amount of money from it, also the cost of electricity in my country is super high I don't think I will be able to mine enough bitcoin or crypto that will be able to cover for those fees,  cuz I will probably be a small miner, instead of mining wjy not learn trading and make good money from there?, at least trading you don't have to buy graphic cards or pay for electricity.

Not sure how you are saying that because last time I decided to mine some Bitcoins, I actually calculated the costs and it came out that I might be going in negative if the miner cost is included. Seriously, unless you have free electricity which doesn't make sense to me, you just cannot make profits from mining or maybe you have just too much hash power.

There are some coins though which have a decent future and maybe it is worth mining them because the difficulty is lower and you can gain some easy coins for potentially selling them at a higher value. Mining is worth in countries where electricity is cheap and you have big mining rigs set up.

I would rather suggest buying bitcoins for the same amount you want to dedicate to setting up mining, and just for wait the price to bloom. But hey, this is just my opinion though and we need more miners so don't get me wrong.

i am working with personal bot to helps as mining bitcoin, that the use gives with chance on compounding as users have ability to set limit with the mining into different number of server and more to keep up with the online/uptime as different time gives with distinctive on level of return.

Is it profitable to dig Bitcoins - yes, if you know how to do it right!
Mining bitcoins on your personal computer is no longer profitable. In addition, the extraction of other cryptocurrencies is highly competitive with that of bitcoin. However, there are ways to continue to be in business. Bitcoin Mining Pools or even Bitcoin Cloud Mining allows you to generate bitcoins and other cryptocurrencies with enormous computing power.

Trading works better now, before there are plenty of options to do like bounty, airdrops, mining and Trading. But at times like this trading will reallygive is profit when we know how to really trade due to higher adoption now of crypto and volume of trading. Mining will be burden in terms of bills as well the materials needed, those stuffs will more efficient if will just use on starting trading and learning how to do it well.