For profit, the average person is always better to buy bitcoin, never mine it, and don't buy at the top.
The company that sells the new miner will raise the price of it to take away your profits and maximize theirs.
The person that sells a used miner knows that there is no more profit in it.
The price of bitcoin and the difficulty will rise faster than you can mine it.
1 Month Update All in on miners or bitcoin?
Total Hash Rate + 12% Network difficulty + 9% Bitcoin + 23%
4/2/23 0.16 BTC ($28,400) $4,544
3/2/23 0.16 BTC ($23,100) $3,700
Buying Bitcoin made $844
Mining made .0175 btc est. ($28,400) $500
Buying bitcoin made $344 more than totally free mining
Even with free labor, free electric, no pool fees, 100% up time, buying bitcoin was more profitable than mining this last month.
Bitcoin can “mine” dollars faster than a miner can mine bitcoin. The price of bitcoin can grow exponentially while the miner has a fixed, or limited, maximum hash rate going against an increasing difficulty rate as new faster miners come on line and the price of bitcoin increases.
A miner mines bitcoin slower over time, loses value, and becomes obsolete. Bitcoin “mines” dollars faster over time, becomes more valuable, and is never obsolete.
Looks like a big percentage loss to mine. Smaller losses will become larger over time. If bitcoin goes to 1M then .08 would be $80,000 vs .16 at $160,000
Smoking Hopium Bitcoin Mining Calculator
https://smokinghopium.io
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