Mining Bitcoin becomes unprofitable at current prices.

[BKR88]

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Source: https://www.cryptocompare.com/mining/calculator/btc?HashingPower=40&HashingUnit=TH/s&PowerConsumption=1500&CostPerkWh=0.12&MiningPoolFee=1

Depends upon the electricity costs.
Oil drilling wells are using the flare gas that usually gets burned off to produce electricity from a "free" energy source so just the cost to set up & operate the mining rigs.
Here in FL our electricity costs ~.07/KWh so I'd be profitable at current rates.

 

[guest_trader_1]

Depends upon the electricity costs.
Oil drilling wells are using the flare gas that usually gets burned off to produce electricity from a "free" energy source so just the cost to set up & operate the mining rigs.
Here in FL our electricity costs ~.07/KWh so I'd be profitable at current rates.


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So it is your time to start a business

 

[BKR88]

So it is your time to start a business

My condo neighbors wouldn't appreciate holes in the side of the building to vent the heat. I'm VP of the board for our community so probably wouldn't be a good look.

 

[Pekelo]

Depends upon the electricity costs.

Yeah, and that little thing called hardware. That you need to buy more and more of...

 

[terr]

And happens when they lower the difficulty? Isn't that directly related to the cryptographic security of the block chain?

Yes, only for currently generated blocks, it lowers it slightly, but insignificantly.

 

[terr]

lots of Video cards will be available for 19.99

BTC is not mined with video cards.

 

[FreeGoldRush]

That is the profit per month, but you to include the mining rig cost for someone to start mining again. I doubt it will become barely profitable anytime soon.

The difficulty can go down as much as -75% every 2,016 blocks. I'm pretty sure it will be profitable quite soon, otherwise the network would cease to operate.

 

[The_Krakenite]

Mining is and has been on its way out since even before Ethereum's time.

Anyone who invests in equities who's business model is to follow mining, is just wasting your $ into a dead-end tech.

 

[LuckyMac]

I know of some people mining in Icelands and making alot it can definitely be profitable but got to find a good set up for sure

 

[Snarkhund]

Depends upon the electricity costs.
Oil drilling wells are using the flare gas that usually gets burned off to produce electricity from a "free" energy source so just the cost to set up & operate the mining rigs.
Here in FL our electricity costs ~.07/KWh so I'd be profitable at current rates.


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Nice.. 7 cents per kWH is excellent. I pay 9.5 cents on the Treasure Coast, the commercial rate is lower.

An ideal place would be cheap power, decent broadband and a very cold climate lol.