Will mining be profitable again?

[ahmed04]

Mining cryptocurrency has now become more profitable than it was. I'm starting to notice that makes have stopped selling their graphics cards. Miners realized that nothing is finished.

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[superstarbtc]

Mining profits partially depend on price of coins, so when price goes up and if difficulty level remains stable & nearly unchanged, we might say mining profits will become bigger when Bitcoin rises, when altcoins rise. However, in general, it this good because it positively support potential rises of mining profit.

Do you know the cost of mining a Bitcoin is more than $4500 in the US? There is tremendous cost of electricity involved and you have to have some good number of hardware as well. You have to spend time and due to these reasons, very few Bitcoins have been mined since 2017 I think. So I believe the alternatives available are way more lucrative than this option.

Yes, you are right and it is not an easy job to mine the coin very fastly and it is completely based on mining hardware requirement. Yes, we need to spend a lot of money to mine the coins and for maturity, it will take more than 3 months if you have proper mining equipment.

[ali115112]

As you kow the cost of Bitcoin mining is almost $5000 per Bitcoin and price is almost $8000 so Bitcoin mining is  profitable now.

[Dpat]

As the Bitcoin price has grown enough and also the volatility increases so this time mining could be profitable. But you have to install your highly sophisticated equipment which lead to less power consumption. Only this way you could get enough profit from your mining with less time. Also, another way I would like to suggest you that install solar power necessary for the mining so that you could get the free energy. But, in less time you also get recovery of your solar cost.

[SRKNGL]

I know that the number of mining workers has decreased this year. We can understand that from difficulty. New cards and devices are shut down to prevent damage from falling out of prices...

[Hypnosis00]

I know that the number of mining workers has decreased this year. We can understand that from difficulty. New cards and devices are shut down to prevent damage from falling out of prices...

It is pretty hard to get a decent income from mining since the numbers of mining business increase but the price remains at low, and not wonder why some will drop down and collapse. Mining business needs a stable market demand, transactions to process and coins to mine but during the bear season, mostly everyone is at hold and so there is nothing to mine. Hope as the market goes back, it helps mining institution build back their profit and continue their job.

[CutePanda]

Mining is less profitable if you are comparing with last year. But we  still have a chance to do other activities such as doing bounties. Although we doesn’t get paid higher but it is better than doing nothing when we have extra time.

[Pithaxz]

I think the advantage of miners when they have adequate equipment and what I know if available is mining is still profitable. but if we look at the current market situation that has not improved it can affect profits in mining.

[BitTraderCute]

Mining is less profitable if you are comparing with last year. But we  still have a chance to do other activities such as doing bounties. Although we doesn’t get paid higher but it is better than doing nothing when we have extra time.

at this moment there are much miners prefer to stop their operation.although we have less profits with current condition , atleast we have more opportunity to get higher hash rate to collect bitcoin more than before.maybe we spend cost operational and hold our mining reward till its price go back ath will be better.

[Babyrica0226]

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

Since that you are referring to Bitcoin topic, this discussion must supposed to be in bitcoin discussion right?
Now, you are asking about bitcoin mining is still profitable? My answer is that if you are planning to get bitcoin profit through
mining, better for you not to do it. Due to I don't think its the right time now to apply. If I were you it is much good
to do the actual trade in the market.

[viananda2525]

Mining is less profitable if you are comparing with last year. But we  still have a chance to do other activities such as doing bounties. Although we doesn’t get paid higher but it is better than doing nothing when we have extra time.

at this moment there are much miners prefer to stop their operation.although we have less profits with current condition , atleast we have more opportunity to get higher hash rate to collect bitcoin more than before.maybe we spend cost operational and hold our mining reward till its price go back ath will be better.

only big miners that could survive in this condition.small miners usually has less resources such as money to pay their cost operational monthly.this is not adviced if we stop mining bitcoin, someday when btc halving happen we will earn more profits.

[Malam90]

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

The previous few months, mining firms faced huge losses as the mining fees per BTC was higher than the actual price of BTC. But now BTC is $8000. So mining can be again profitable for the mining firms.

[AjithBtc]

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

The previous few months, mining firms faced huge losses as the mining fees per BTC was higher than the actual price of BTC. But now BTC is $8000. So mining can be again profitable for the mining firms.

Compared to the past year now the market has recovered, and the same might be generating some added earning.  Investing continuously into mining was truly profiting over the days of bitcoin reaching above $10000. As the price has now crossed $8000 surely more miners will get to be more active. One thing, the investment is very big and the ROI on the investment is very low.

[ghost424]

Mining was always profitable. It was never not profitable in a way because of the fact that the only investment you are making is energy. You only need to remind yourself that there are times that you need to withdraw the value that you have mined. Mining is one of the easiest way to earn if you still do not know how the forum works and everybody can learn how to mine. Mining was how i started to learn and be interested in Cryptocurrency.

[oli123]

Profitability of mining is yet to come, this period is repeated regularly. Yes, the bitcoin price still has to go up. But then there will be an increase in altcoins prices and then mining will be profitable. Anyway, you have to wait for it, patience.

[Ucy]

in your post you are talking about bitcoin but you posted it in altcoin board so do you mean bitcoin mining or altcoin mining? because it is unclear!

bitcoin mining has always been profitable, that is why it has the highest hashrate which is so huge that nobody can 51% attack it without spending millions of dollars. and it will remain profitable no matter what the price is because of the well design mining algorithm that adjusts the difficulty of mining based on the hashrate.

Well, many miners have to stop mining to make mining bitcoin profitable for the few remaining miners. I don't consider this as being profitable... Most miners made lots of losses before leaving.

[daniel2023]

The present increase in price of Bitcoin is really a big boost to the Mining business. But further increase in price will be more lucrative for the miners and all  sundries in the cryptocurrency world.

[kodtycoon]

Now that bitcoin is at 7000k plus is mining becoming profitable again? Or bitcoin still have to surge more in price before profitable mining returns?

i don't think mining will be detrimental, mining is something that is very profitable if done well and even though the price falls but it can still be hold and will still be profitable in the future

[huhhuh18]

It is profitable but wouldn't be profitable to anyone and at anytime. As time goes on, you'll need to be very rich before you can engage in any profitable mining- that's the smartness of the Bitcoin or PoW network.

[Noojna]

Mining becomes profitable for miners already in the market, when BTC price rises quickly. People looking to get in after price has risen will not be profitable.