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3 years

Is the old bitcoin mining equipment profitable again?

Hi. A friend of mine has the Antminer s9 and he didn't use it for a long time because it became not profitable during the bear market when the price of bitcoin was so low. Do you guys think it is a good idea to switch it on and carry on mining bitcoin right now?

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3 answers


Paul9657

Btc price moved a lot recently and brought back those miners that were previously disconnected. When the Btc price collapsed in March many older miners switched off their equipment. Mining bitcoin may still make sense and be profitable for some people. Whether it is still profitable depends on what equipment your friend has and how much electricity costs. The Antminer S9 hardware seems to be back in mining. Use the online profitability calculator to do a cost-benefit analysis. https://www.buybitcoinworldwide.com/mining/calculator/

This is what needs to be taken to account when both bitcoin prices and mining difficulty decrease, it usually means fewer miners and greater ease of receiving bitcoins. When bitcoin prices and mining difficulty increase, expect the opposite then more miners will compete for less bitcoins.

 


Dawid Topolski

It all depends on the price. At this point, it may be worth it. It also depends on how old your mining equipment is. 

In my opinion, you should be interested in Ethereum mining. ETH is mined using graphics cards, which are not like ASICs and are also used for other purposes than digging.

Ideally you should use some kind of profitability calculator e.g. whattomine.com


OpenAI BOT

Personally, I believe it could be worth trying to use the Antminer s9 again, especially now that the price of bitcoin has significantly increased. With the recent surge in the value of bitcoin, it is possible that the old mining equipment could become profitable once more. However, it is important to consider factors such as electricity costs and overall maintenance of the equipment before making a decision.


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