Are Mining Still Profit?

[avonka]

If the sources are reliable new mining farms  are under building in China and Canada, so I would think they expect the mining to be profitable againg. With BTC price over $6k they will be for sure.

[1715568219]

1715568219

[Aponkye1]

Mining of cryptocurrencies these days is quite difficult and the worst part of it is the current bear market that we are experiencing. Currently looking at the expenses involved in setting up a mining rig and the little coins that you would be generating because of the increased in difficulty and pools of mining across the globe the little coins that you get is not enough money also due to the nature of the market.

[swogerino]

At actual price levels mining with Rx 570/580 series with an energy cost of 0.07 dollar kilowatt is profitable, very little but it is and as long as is profitable why not mine ?

[Cellerex]

Mining of cryptocurrencies these days is quite difficult and the worst part of it is the current bear market that we are experiencing. Currently looking at the expenses involved in setting up a mining rig and the little coins that you would be generating because of the increased in difficulty and pools of mining across the globe the little coins that you get is not enough money also due to the nature of the market.

The market began to signal a recovery. Therefore, I think that soon the situation with the profitability of mining will change for the better.

[dagarair]

AS OF TODAY 8:30 AM 4/13/19: If you mine and can hold even at 12 cents its better than buying IMO  You have the equipment already makes no sense to turn it off since you own it already.

230 Hash at 1000 Watts (if you have proper mods)


USD$

Electric Cost    Profit     Cost    Monthly
.12 Cents        .08        2.88      1.60
.11 Cents        .32        2.64      9.60
.10 Cents        .56        2.40     16.80
.09 Cents        .80        2.16     24.00
.08 Cents      1.04        1.92      31.20
.07 Cents      1.28        1.68     38.40
.06 Cents      1.52        1.44     45.60
.05 Cents      1.76        1.20     52.80

[asbak66]

As far as I know it depends what altcoin you mined. It depends too with the algorithm and what miner tool you use .
Cause as you know mining coin it's totally depend with that coin you mined and with high volatility of crypto market, I think it's quite tricky to find good coin to mined and get some profit from there.
Veil maybe can be good choice to mine, I'm not a miner but you can take a look about Veil project to make sure.

[naufals4]

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

it all depends on the future of the future of cryptocurrency if in the future the price of cryptocurrency will rise or become expensive then the mining that we do will be very profitable but if the price continues to fall then it will not even get profit. in addition there are also factors that affect the results of mining, namely software and hardware such as a qualified GPU and others

[Beyerd17]

Yes, you can still mine at a profit. Simply buy the most expensive gpu's you can find, move to a country where electricity is inexpensive and you're good to go. That wasn't so hard was it.

[Abal Abal]

for now mining can still provide benefits, provided we can minimize the cost of electricity payments. change free. let's find that way

[gotminer]

At actual price levels mining with Rx 570/580 series with an energy cost of 0.07 dollar kilowatt is profitable, very little but it is and as long as is profitable why not mine ?

If you're going to mine crypto, mine crypto. Doesn't matter if it is profitable or not (on a daily, weekly, monthly basis). You either believe in the space long-term, or you do not. 

[Psynthax]

At actual price levels mining with Rx 570/580 series with an energy cost of 0.07 dollar kilowatt is profitable, very little but it is and as long as is profitable why not mine ?

If you're going to mine crypto, mine crypto. Doesn't matter if it is profitable or not (on a daily, weekly, monthly basis). You either believe in the space long-term, or you do not. 

The question how long we will get our ROI and remember there was a lot of various things can happen to reduce our profit just like when there will be more miners interested join in the mining and that makes difficulty gets increase quickly. mining is not so easy just like you want to get a coin from block reward.

[gotminer]

At actual price levels mining with Rx 570/580 series with an energy cost of 0.07 dollar kilowatt is profitable, very little but it is and as long as is profitable why not mine ?

If you're going to mine crypto, mine crypto. Doesn't matter if it is profitable or not (on a daily, weekly, monthly basis). You either believe in the space long-term, or you do not. 

The question how long we will get our ROI and remember there was a lot of various things can happen to reduce our profit just like when there will be more miners interested join in the mining and that makes difficulty gets increase quickly. mining is not so easy just like you want to get a coin from block reward.

ROI doesn't even enter into the equation for me. I never even think about it. And with 30 gpu's, you can do that. Hold onto your mined coins or trade them for what you believe in long-term. Pay your electricity costs without selling any of your mined coins. A large scale farm isn't going to have the ability to do that in most cases, but a small home mining operation can.

[swogerino]

At actual price levels mining with Rx 570/580 series with an energy cost of 0.07 dollar kilowatt is profitable, very little but it is and as long as is profitable why not mine ?

If you're going to mine crypto, mine crypto. Doesn't matter if it is profitable or not (on a daily, weekly, monthly basis). You either believe in the space long-term, or you do not. 

I am one of the early believers and I have mined from a lot of time and still continue to do so, my advice was for people who ask about mining and are thinking to enter this area.

[wheelz1200]

Mining is profitable you just have to know what to mine and be flexible to switch when need be.  Definately harder in bear markets, if/when markets turn it's a ton easier to profit daily but profit is still there to be had for sure.

[dagarair]

Other than opening week on raven and beam then grin I've mined ETH.  It's always been decent and i believe in the long term of it.  I had to first week mine those said coins to sell asap and make 10x what I would of on ETH tho 

[lisasteca]

Lond time ago i am sure mining was the best and easy way to make lot money , don't know how it works today, but mining today you have to have good computer and electricity not expencive like in many country

[kotikadze]

Lond time ago i am sure mining was the best and easy way to make lot money , don't know how it works today, but mining today you have to have good computer and electricity not expencive like in many country

Now mining is not very profitable compared to a year earlier. I hope that those times will come back when the equipment can be paid back in 2-3 months.

[CryptoCoinArbitrage]

In China it is the season of the monsoons  and lot of the miners installing their RIGs close to the hydroelectric power plants  where they can get cheaper electricity  and insuring higher profit.

[wheelz1200]

Lond time ago i am sure mining was the best and easy way to make lot money , don't know how it works today, but mining today you have to have good computer and electricity not expencive like in many country

Sure years ago it was way better but who knows what the future markets hold for us, if you have gear that's been roi'd already its definately making profit if you know what you are doing and have some of the newer gear, talking GPU's, asics you need to roi quick because they become doorsteps real quick and once they are trumped by newer gear they are as good as dead unless you have free electric.

[John46285]

According to me it’s good to buy some good coins than mine coin. Cause I've heard that currently mining is so hard and also very costly. So I decided that I will buy some coin.