Are Mining Still Profit?

[Piskeante]

mining is not profitable. Is it worth keeping them on for 40$ a month?? let's say 100$ a month?? I don't think so. So better to turn them off.

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[Docice]

Not so long ago, Bitmain said that 200k miners would be placed in China.

I think for Bitmain it will be a problem. Since the state committee on development and reform of China is going to ban the extraction of bitcoins in the country. The project was submitted for public discussion, which will last until May 7. If the mining ban is not rejected, it will take effect immediately after the publication of the document. In addition, where will the miners go when ETH goes to the POS. My opinion to the end of mining, it is now relevant to lease their power to perform complex tasks, for example, a graphic studio.

[lobat999]

Not so long ago, Bitmain said that 200k miners would be placed in China.

I think for Bitmain it will be a problem. Since the state committee on development and reform of China is going to ban the extraction of bitcoins in the country. The project was submitted for public discussion, which will last until May 7. If the mining ban is not rejected, it will take effect immediately after the publication of the document. In addition, where will the miners go when ETH goes to the POS. My opinion to the end of mining, it is now relevant to lease their power to perform complex tasks, for example, a graphic studio.

Right! I've heard that news too with regards to the plan of a mining ban in China and if it is implemented soon, then I think it could reduce mining competition among miners which might lead to more profits among them. Imho.

[romelitounknown]

Mining always profitable just don't mine btc and eth at the moment. There are lots of high return mineable coins out there. Just DYOR

[adterna]

In my opinion, if we are going to mine coins, we must first select the coins that will be in the mine, because right now not all those in the mine can bring profit as before, we must choose the coins that will be in the mine.

[jony35490]

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

That's why currently I'm giving attention into Bitcoin most. Cause nowadays mining is not so much worth.     

[mak013]

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

That's why currently I'm giving attention into Bitcoin most. Cause nowadays mining is not so much worth.     

If you`ll try to think wider, you can understand, that mining and convert to BTC can be more profitable then just buying BTC. Also, if you have rigs - if you sell them now - you cant get much money. And while they are mining, they makes everyday profit. But you can sit and wait profit.

[dentolas]

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

That's why currently I'm giving attention into Bitcoin most. Cause nowadays mining is not so much worth.     

If you`ll try to think wider, you can understand, that mining and convert to BTC can be more profitable then just buying BTC. Also, if you have rigs - if you sell them now - you cant get much money. And while they are mining, they makes everyday profit. But you can sit and wait profit.

People complain too much and don't do anything to change the situation... research, read, try to think about it .... one of the tricks is to choose the right coins to mine
other trick is to do your power calculations since the start and choose the best option
and you can also accumulate coin to sell during the next bull run...
so, people, please stop complaining because mining is defective and it doesn't bring profit.... a lot of miners are still at work, hashrate is growing.... so maybe mining is not the problem and you are?

[Anonylz]

Depends on individual capability, mining could be profitable if you know the right coin you want to mining to bring you profit, then consider your electricity supply, someone mentioned above to calculate your power supply, this is very important because mining will not be possible without power and if you are spending on power than necessary is not good, so better to take note of this very important aspect, otherwise mining won't be that profitable.

[forexhercules]

This is a game for months or years not day by day. go in and one day you will have your money doubled 5 times

[nightl]

Depends on individual capability, mining could be profitable if you know the right coin you want to mining to bring you profit, then consider your electricity supply, someone mentioned above to calculate your power supply, this is very important because mining will not be possible without power and if you are spending on power than necessary is not good, so better to take note of this very important aspect, otherwise mining won't be that profitable.

Yes, I agree. First of all, you need to choose the coin that you need to farm - there are many services to check the hashrate.
Well, if you connect a farm for mining - if we are talking about several farms - you can do this not directly to the electric meter, but directly to the wires

[rnchavez19]

probably there is a change in their operations or they just did some upgrade.
Anyway as for bitcoin mining, the competition increases as many miners join the fight so it is also a battle of resources.
The more you develop in the industry, the more you avoid getting trampled upon, and the more you gain. survival of the fittest really do matter here where small miners get thrown out.

[Alucard2425]

If your country has a cheap electricity i say its a big yes and look for some great altcoins to mine

[CLywaTeLb]

Mining always profitable just don't mine btc and eth at the moment. There are lots of high return mineable coins out there. Just DYOR

This is true when you consider this:

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People complain too much and don't do anything to change the situation... research, read, try to think about it .... one of the tricks is to choose the right coins to mine
other trick is to do your power calculations since the start and choose the best option
and you can also accumulate coin to sell during the next bull run...
so, people, please stop complaining because mining is defective and it doesn't bring profit.... a lot of miners are still at work, hashrate is growing.... so maybe mining is not the problem and you are?

Thus, the choice of coins for mining is not the only thing that needs to be done for success. Something to accumulate, others to sell immediately.

[||bit]

I don't think mining ethereum, bitcoin will bring you any profit if you don't have very cheap electric.

But, if you can find a new promising coin, and just start mining at before it becomes something big, that can bring you good money.

[lobat999]

I don't think mining ethereum, bitcoin will bring you any profit if you don't have very cheap electric.

But, if you can find a new promising coin, and just start mining at before it becomes something big, that can bring you good money.

Right! I do think most miners see their mining activity as a long term investment considering we have suffered a long crypto winter that hopefully will have a reversal on an impending bullish trend which could greatly give them very good profits if they chose to hold their coins for a little longer.

[Beyerd17]

If your country has a cheap electricity i say its a big yes and look for some great altcoins to mine

Electricity is not the only cost factor when factoring in overall profitability. Wear and tare on your hardware is also important. If you mine day and night, you will have to replace you hardware after some time.

[cryptorima]

A lot of people are mining to generate heat for their house so even if they are technically not making a profit they are still paying less to heat their house so its a win for them.

Also many people have free electricity from rental agreements, solar, hydro, or using company property.

I think if anyone have free electricity then mining is profitable for them. Cause for mining we need so much electricity which is very worth for some persons.

[CryptoKush]

I think that the profitability of mining depends on how low your electric power costs are and how large your scale is. If you have cheap electricity, then you have a chance to mine with a profit.

[Mymikagab]

Mining is in cold climates is more ok because the power consumption is lower but if you're in a hot country its better to stop mining coz of high electricity consumption. I advice for now is buy and hodl the top leading coins and then wait for bull run