Are Mining Still Profit?

[phoinex]

Some small and medium-sized miners located in Xinjiang and Mongolia in China have reportedly sold their mining equipment in the second hand market to end this. Ironically, mining rig prices are only worth one-twentieth of the same time a year ago, Mining machines are sold in the second hand market with prices ranging from 100 yuan to 1,600 yuan (around $ 15- $ 200). When I'm going to work this makes me hesitant about being involved in mining.

Sumber: https://rumahcoinnews.com

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[AltcoinTradingSignal.com]

The answer depends on where the mining operations are taking place. For the majority of the locations, it is not profitable anymore considering BTC has tanked a lot in the past couple of months. Also, considering that China sees this issue means large implications on the overall mining operations across the world.

What will happen is a lot of miners will turn their rigs off. Only the miners who can operate at a loss will stay open. Once enough miners turn the rigs off the price to mine will become profitable again.

[netto7]

i think if you use gpu it have little profit more than ASIC in this market.

but when BTC lower than 3500 i think no one have profit

[Rune]

Seems with most coins your mining at a loss now and hoping for a recovery in the future.
only projects worth mining now are small projects you expect to balloon in the future otherwise your better of just buying BTC with cash

[_javier_]

The nonsense of mining at a loss !!


If you mine at a loss a coin you think it could rise, you should BUY that coin instead of mine it.
Its that simple.

Mining profit still depends on your energy price.

3500 usd/btc is break even for most gpus paying 0.1 usd/kwh

[Rune]

The nonsense of mining at a loss !!


If you mine at a loss a coin you think it could rise, you should BUY that coin instead of mine it.
Its that simple.

Mining profit still depends on your energy price.

3500 usd/btc is break even for most gpus paying 0.1 usd/kwh

depends the coin I am interested in Tera smart money I bought up all I could but but there is just not enough people selling you get more coins by buying hardware and mining it.

[dragonmike]

The nonsense of mining at a loss !!


If you mine at a loss a coin you think it could rise, you should BUY that coin instead of mine it.
Its that simple.

Mining profit still depends on your energy price.

3500 usd/btc is break even for most gpus paying 0.1 usd/kwh

depends the coin I am interested in Tera smart money I bought up all I could but but there is just not enough people selling you get more coins by buying hardware and mining it.

Seriously?
I think that's just a cop out, you're just trying to justify the existence of your mining rigs! I am yet to see a crypto coin (ESPECIALLY in this bear market) that has more bids than offers!

[leowonderful]

There are some who mine primarily to produce heating for their homes, which can nullify electrical costs as heating bills are lowered as a result of mining heating the home, but it is true that for most people, mining at a loss makes no sense and you're better off buying coins or just not further interacting with cryptocurrency if you're not willing to deal with the bear market we're facing right now.

You should be hesitant about starting to mine right now. Many miners are being released with the hope that mining will become more profitable in the future, which is not something you can count on and is essentially gambling. If mining isn't profitable for you right now, don't count on it being profitable in the future.

[grendel25]

It's fine with me if everyone stops mining and buys coins on the exchanges instead.  Perfectly fine with me

[Wipangga]

I think mining is still profitable now, but I prefer investing in altcoins than I have to mine, because now is the right time I can make a profit by waiting for higher price increases. see the altcoin price on the market now still low.

[adaseb]

I think mining is still profitable now, but I prefer investing in altcoins than I have to mine, because now is the right time I can make a profit by waiting for higher price increases. see the altcoin price on the market now still low.

No mining is not profitable at all right now. Even if you got really low or free electricity rates. Many have shut down their rigs.

Look at the ETH global hashrate,
https://etherscan.io/chart/hashrate

Keep in mind there are ASICs which replaced many of the GPUs which shut-off, so in theory the hash rate should be even lower than it is right now.

[netto7]

I think mining is still profitable now, but I prefer investing in altcoins than I have to mine, because now is the right time I can make a profit by waiting for higher price increases. see the altcoin price on the market now still low.

No mining is not profitable at all right now. Even if you got really low or free electricity rates. Many have shut down their rigs.

Look at the ETH global hashrate,
https://etherscan.io/chart/hashrate

Keep in mind there are ASICs which replaced many of the GPUs which shut-off, so in theory the hash rate should be even lower than it is right now.

i think he mean other altcoins with not famous yet.

mine it and keep until next month when price increases.

[Amph]

the last bitcoin dump killed it completely, see you in the next pump...

[crairezx20]

Same here in my country, there are many miners start selling their rigs just to cut their losses.

For now, the only way to make mining profit is to mine newborn coins and hold it for a long time at least 2 to 3 months if the price increases then you are lucky you can sell all your hold coins with a higher price and make a profit. This is what other miners do until now.

For ASIC miners out there I don't know if they are still making profit mining bitcoin but there are still ASIC miner that can make a profit.
According to https://www.asicminervalue.com/ there are still many ASIC that can make a good profit. Better to check the asicminervalue to find out.

[swogerino]

Now that the price of bitcoin is less than 4000 dollars I think anyone can find a cheap rig to buy if anyone want to just test the waters but right now profit is in a distant land for mining. I cannot understand this fall in price though, I know it comes from Ati and Nvidia not selling cards at the rythm they did when mining was in a boom but it doesn't justify this fall in price.

[Hyp0crit]

I see it differently.
Mining is not profitable if you look at it right now but If you look at it from the other point of view it's profitable.
Difficulty on most coin's going down (Bitcoin, litecoin, ethereum ~-10%). When price is going to jump back up you earn good enough to pay your electricity and other expenses.
It is just not profitable to sell your earned coin's at this moment.
If you can't afford to pay your electricity at current rate's you should pause your mining operation but anyone with not big farm can continue like before.

[shield132]

The nonsense of mining at a loss !!


If you mine at a loss a coin you think it could rise, you should BUY that coin instead of mine it.
Its that simple.

Mining profit still depends on your energy price.

3500 usd/btc is break even for most gpus paying 0.1 usd/kwh

Yeah but if your loss is very small, you have a big house and have made a heat system with miners while keeping their noisy low, then it worths to mine because in winter you'll save some money.
Well, yeah buy coins, currently is great situation for this.
Mining is profitable if you mine altcoins...
Bitcoin mining isn't profitable but big miners still stand on their feet, people who can't handle current situation, quit from market as you see, we have to avoid this because it makes big miners like bitmain and bitfury stronger.

[DrG]

With the exception of ASICs which are already in hand for very specific cases, mining is not profitable.

For everybody who has free electricity consider this. If you have a 1080Ti mining full bore you might earn $100 to $150 over the course of the next 12 months (assuming current prices - haha, we're in a massive bear market right now, good luck with that). If you sell your 1080Ti in 12 months it will have most definitely lost at least $150 in value.

The only way it would ever be worth it to mine is if the coin shoots up 10x in price - in which case it would have made sense to buy it with fiat  with proceeds from the sale of the card at optimal prices (best would have been to sell last December and buy coins now).

Mining only makes sense stupid moon rockets have overpriced the market relative to current difficulty.

Look at the eth hashrate - took it long enough to start correcting - need to drop another 50% for mining to make sense (or cents) - lots of gamers going SLI and crossfire for cheap this holiday season lol. RTX pshaw...

[phoinex]

With the exception of ASICs which are already in hand for very specific cases, mining is not profitable.

For everybody who has free electricity consider this. If you have a 1080Ti mining full bore you might earn $100 to $150 over the course of the next 12 months (assuming current prices - haha, we're in a massive bear market right now, good luck with that). If you sell your 1080Ti in 12 months it will have most definitely lost at least $150 in value.

The only way it would ever be worth it to mine is if the coin shoots up 10x in price - in which case it would have made sense to buy it with fiat  with proceeds from the sale of the card at optimal prices (best would have been to sell last December and buy coins now).

Mining only makes sense stupid moon rockets have overpriced the market relative to current difficulty.

Look at the eth hashrate - took it long enough to start correcting - need to drop another 50% for mining to make sense (or cents) - lots of gamers going SLI and crossfire for cheap this holiday season lol. RTX pshaw...

Yes, I think this is enough to give input to me before I start mining, because there are many people out there who are closed because of losses, so they sell a lot of mining equipment to cover the losses.

[arielbit]

profit? i do not want profit... i want coins! coins! you get it? gimme more COINS!..keep em coming haha 


profit will have its day