Is mining cryptocurrency profitable?

Hello. I would like to invest in cryptocurrency miners, but I am not sure if mining is still profitable after the last halving. What do you think about this? Is mining cryptocurrency still profitable? Thanks to everyone for the hints and best regards. Maurice

Hello. I would like to invest in cryptocurrency miners, but I am not sure if mining is still profitable after the last halving. What do you think about this? Is mining cryptocurrency still profitable? Thanks to everyone for the hints and best regards. Maurice

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33 users upvote it!

13 answers


JacekSalach

In my opinion, it is not profitable to mine cryptocurrencies only, unless you have the latest equipment and access to cheap or free electricity. The excavators are constantly being improved and the digging difficulty of the BTC itself is constantly increasing. You can mine other cryptocurrencies, but this requires constant tracking which coins are worth digging at a given moment and constantly updating the equipment. I think a better solution is to buy crypto from the exchange at a good price.

In my opinion, it is not profitable to mine cryptocurrencies only, unless you have the latest equipment and access to cheap or free electricity. The excavators are constantly being improved and the digging difficulty of the BTC itself is constantly increasing. You can mine other cryptocurrencies, but this requires constant tracking which coins are worth digging at a given moment and constantly updating the equipment. I think a better solution is to buy crypto from the exchange at a good price.

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9 likes

Zenon Bartkowiak

Digging is becoming less profitable and excavators are becoming more and more expensive. It seems to me that mining of cryptocurrencies is starting to decline :( Unfortunately, that's the truth ...

Digging is becoming less profitable and excavators are becoming more and more expensive. It seems to me that mining of cryptocurrencies is starting to decline :( Unfortunately, that's the truth ...

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8 likes

Tomasz Mikosz

It all depends on the course. Perhaps now mining is not very profitable due to the cost of electricity and the prices of excavators themselves. But think about what will happen if the price of bitcoin rises to $ 100,000. It turns out that the digging was paying off. Difficult subject...

I don't know if it still makes sense after halving. The block reward seems to be too little to make cryptocurrency mining profitable.

It all depends on the course. Perhaps now mining is not very profitable due to the cost of electricity and the prices of excavators themselves. But think about what will happen if the price of bitcoin rises to $ 100,000. It turns out that the digging was paying off. Difficult subject...

I don't know if it still makes sense after halving. The block reward seems to be too little to make cryptocurrency mining profitable.

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8 likes

Dawid Kędziora

It doesn't look good for today. I am currently an advocate of staking. Staking is a so-called proof-of-stake method that allows you to earn cryptocurrencies just by keeping them in your wallet. This way, you don't have to worry that the excavator you paid for now will not be profitable anytime soon, or that the bitcoin price will go down and you can't afford electricity.

It doesn't look good for today. I am currently an advocate of staking. Staking is a so-called proof-of-stake method that allows you to earn cryptocurrencies just by keeping them in your wallet. This way, you don't have to worry that the excavator you paid for now will not be profitable anytime soon, or that the bitcoin price will go down and you can't afford electricity.

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7 likes

Krystian Adamek

Unfortunately, it pays poorly. It's not the times it used to be. It all depends on how much electricity you have. An excavator is also not the cheapest investment. In my opinion, you can earn faster by learning to trade.

Unfortunately, it pays poorly. It's not the times it used to be. It all depends on how much electricity you have. An excavator is also not the cheapest investment. In my opinion, you can earn faster by learning to trade.

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2 likes

Dawid Topolski

I think it's already halfway through halving, although I read on some foreign forum recently that people are mining zcash now.

I think it's already halfway through halving, although I read on some foreign forum recently that people are mining zcash now.

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1 like

Piotr Banczerowski

The prices of excavators are not the lowest and there is also more and more expensive electricity. Therefore, mining becomes less and less profitable. Alternatively, you can consider options with your own power source (e.g. photovoltaics).

The prices of excavators are not the lowest and there is also more and more expensive electricity. Therefore, mining becomes less and less profitable. Alternatively, you can consider options with your own power source (e.g. photovoltaics).

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1 like

Piotr Banczerowski

The prices of excavators are not the lowest and there is also more and more expensive electricity. Therefore, mining becomes less and less profitable. Alternatively, you can consider options with your own power source (e.g. photovoltaics).

The prices of excavators are not the lowest and there is also more and more expensive electricity. Therefore, mining becomes less and less profitable. Alternatively, you can consider options with your own power source (e.g. photovoltaics).

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Piotr Banczerowski

The prices of excavators are not the lowest and there is also more and more expensive electricity. Therefore, mining becomes less and less profitable. Alternatively, you can consider options with your own power source (e.g. photovoltaics).

The prices of excavators are not the lowest and there is also more and more expensive electricity. Therefore, mining becomes less and less profitable. Alternatively, you can consider options with your own power source (e.g. photovoltaics).

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PiotrJuszczyk

In fact, the only profitability I see is the use of energy from photovoltaics when we simply have too much of it for our home needs.

In fact, the only profitability I see is the use of energy from photovoltaics when we simply have too much of it for our home needs.

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antau

Big companies are now mining. For an ordinary hare, it is a large and rather unprofitable investment.
If you really want to 'mine', get interested in cloud mining, or buy a NOD, if it doesn't have to be BTC.

Big companies are now mining. For an ordinary hare, it is a large and rather unprofitable investment.
If you really want to 'mine', get interested in cloud mining, or buy a NOD, if it doesn't have to be BTC.

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Przemek

The best strategy is to mine now in a bear market when the network load is low because you can mine a lot of cryptocurrencies and sell if the network load increases, which means that the recovery is bullish and the prices of altcoins have increased

The best strategy is to mine now in a bear market when the network load is low because you can mine a lot of cryptocurrencies and sell if the network load increases, which means that the recovery is bullish and the prices of altcoins have increased

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OpenAI BOT

Just like with any investment, mining cryptocurrencies also comes with some risks. After the last halving, it may be more difficult to profit from mining, as the block reward has been reduced by half. However, much depends on the price of cryptocurrencies in the market and the energy costs needed for mining. It is worth carefully analyzing the situation and conducting market research before making a decision. Remember that the cryptocurrency industry is very dynamic and constantly changing, so it is worth staying up to date with information.

Just like with any investment, mining cryptocurrencies also comes with some risks. After the last halving, it may be more difficult to profit from mining, as the block reward has been reduced by half. However, much depends on the price of cryptocurrencies in the market and the energy costs needed for mining. It is worth carefully analyzing the situation and conducting market research before making a decision. Remember that the cryptocurrency industry is very dynamic and constantly changing, so it is worth staying up to date with information.

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