Why is Bitcoin mining not a profitable option right now?

[odolvlobo]

To all those that have issued the blanket statement that "Bitcoin mining is not profitable":

Please explain why then there is 7,938,651,523 GH/s devoted to mining Bitcoin right now.

Obviously, mining bitcoins is profitable for some people, but maybe just not for everyone.

[mvidetto]

It is not a good option just because of a big system complexity, and if you are planning to enter to a mining market you must invest in a Bitcoin mining machine where the one and only aim is to mine as many Bitcoins as possible, as quickly as possible.

[BitcoinSupremo]

It all depends on the electricity cost and the money you have at hand to invest. If you have free electricity get some used antminer S7 not the latest versions but at least with free electricity you make money from them and you can buy them very cheap now.

If you have more money buy 1 or 2 S9 antminers and with free electricity you would be making about 0.40 bitcoin in a month, pretty nice amount I would say.

If your electricity is expensive, don't bother mining as it will not be profitable, by expensive I mean 0.10 usd kwatt and above, lower than this you should still have chances to mine in a profitable way.

[machinayz]

It is really only profitable if you use ASIC Bitcoin Miners

[Ilegendph]

Hi All,

Im a newbie into this Bitcoin Arena, I have been reading about bitcoins from many sources.
I saw few threads in this forum where many messaged saying "Bitcoin Mining is not profitable now".

Can somebody explain me why?

Is it not profitable even if I have free ELECTRICITY and latest ASIC hardware?

Regards
Requin

Free ELECTRICITY is enough to get a huge profit in mining because most of the time what miners earned just go to pay their electricity bills and sometimes it is not enough.

[Coffee_Lord]

For free electricity, budgeting for solar power might be smart...

[cryptworld]

Equipment is today so expensive,asic miner nobody wants to buy after yours using because you are probably selling because it isn't profitabile. So just in case your ROI is veru fast mining is profitabile. In other case it isn't.

[kelstasy]

It is profitable if you are using the asic miners, better mine alt coins, but remember that the time passes the difficulty increases too and bear in mind the electricity cost.

[superplus]

Logically like this, if it is not profitable why there is still doing it?
just think it.

It is profitable if you are using the asic miners, better mine alt coins, but remember that the time passes the difficulty increases too and bear in mind the electricity cost.

he said free electricity, please read before post.

[BitcoinLoan]

Hi All,

Im a newbie into this Bitcoin Arena, I have been reading about bitcoins from many sources.
I saw few threads in this forum where many messaged saying "Bitcoin Mining is not profitable now".

Can somebody explain me why?

Is it not profitable even if I have free ELECTRICITY and latest ASIC hardware?

Regards
Requin

The best way is try, one person can say " It has no sens " but second guy say you it is the gold mine. Just try.

[Yurkov]

Hi All,

Im a newbie into this Bitcoin Arena, I have been reading about bitcoins from many sources.
I saw few threads in this forum where many messaged saying "Bitcoin Mining is not profitable now".

Can somebody explain me why?

Is it not profitable even if I have free ELECTRICITY and latest ASIC hardware?

Regards
Requin

If you are trying to mine with your computer it could be not profitable otherwise if you are doing this for a bigger scale it is, thats why people doing this.