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I think that mining LTC is more profitable than bitcoins mining. Reply. zoryan_xr says: February 13, 2020 at 4:23 pm . Ukraine seems to be the best Europe country to bitcoins mining! Cheap electricity no mining restrictions and very loyal government policy regarding digital and crypto sphere.
Is mining on bitcoin now only reserved to the few elitist who manufacture asic machines? The claims that it is profitable because bitcoin value go up is invalid. Because at that case better off to just buy bitcoin and hodl instead of buying asic with it. Or if bought the hardware using bitcoin …
Yes, Bitcoin mining is profitable…if you have an efficient ASIC miner and access to cheap electricity. Since mining has now become a highly competitive industry, and the increase in the efficiency of mining hardware has slowed down, access to cheap electricity has become one of the most important conditions for profitable Bitcoin mining.
Yes, Bitcoin mining is profitable…if you have an efficient ASIC miner and access to cheap electricity. Since mining has now become a highly competitive industry, and the increase in the efficiency of mining hardware has slowed down, access to cheap electricity has become one of the most important conditions for profitable Bitcoin mining.
If I use a Bitcoin mining calculator and try to predict my profits with 10Th/s of mining power assuming I have no other expenses I get the following results: So after one month I make around 0.34172190 Bitcoins (~$217), meaning after 1 year I will make around 4.1 Bitcoins.
Bitcoin mining is no longer profitable today. According to CNBC, in March, the miner’s profits have roughly halved compared to their earnings in December due to the surge of interest. “Bitcoin currently trades essentially at the break-even cost of mining a …
You can join a bitcoin mining pool to be more effective, but that comes with a fee, reducing your profits. Some crypto miners instead opt for other currencies. Some other cryptocurrencies are worth very little in U.S. dollars, but it’s possible to use what you mine and convert it into fractional bitcoins on an exchange, then hope that bitcoin gains in value.
Is Bitcoin Mining Profitable? Fully Explained. December 3, 2020 uniqueten Bitcoin, Cryptocurrency, Make Money 0. Interest in cryptocurrencies has surged since 2015 as bitcoin has seen its value rise from about $300 per coin to a peak of about $20,000 per coin in December 2017, then dropping to about $8,000 per coin as of November 2019.
On May 11, 2020, the reward halved once more to six.25 BTC. In November 2019, the worth of Bitcoin was about $9,300 per bitcoin, which suggests you’d earn $116,250 (12.5 x 9,300) for finishing a block. Conclusion. Cryptocurrency mining like Bitcoin mining and Ethereum mining has a high risk and high investment is needed to start it.
Powerful mining rigs use a great deal of energy to run, and obviously, the more you have the more electricity you’ll guzzle up. Probably the most important factor for working out Bitcoin mining profitability is the Bitcoin price. If the price is high enough mining Bitcoin will be profitable for all.
The profitability of Bitcoin mining comes down to hardware acquisition and running costs; most modern miners are currently net positive in terms of daily yields. Since falling to just $5,000 less than a year ago, the price of Bitcoin (BTC) has been on a meteoric uptrend, with the leading cryptocurrency seeing its value grow by more than 340% in the last year.
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