If you are new to crypto currency mining or you want to find out what is current profitability in crypto currency mining , you want to stick around for this one.
Most of you who is in mining or has ever wanted to invest in mining here is for making profits. About 99% miners are looking to make some kind of profit in crypto mining, only about 1% or less here is for supporting networks. Mining might be high risk and high reward business category. As it is very unpredictable it is hard to tell what you will be earning after 1 week or one month. We can only look into mining calculators today and see what is the profitability. Because tomorrow crypto currency which you are mining, price could collapse or skyrocket. Who has been in crypto for a while now , will understand what i’m talking about. Mining profits does depend on few factors like :
- your equipment costs
- mining software efficiency
- your equipment efficiency
- your energy costs
- do you have any extra costs like (rent,security,how expensive is your location, equipment cooling costs)
As in any business you are looking for your ROI as soon as possible, and doing most efficient way will always be the most less risky way. Let me give you and example 2 guys (John and Noah) start mining at the same time , they buy same mining equipment for the same price. Lets say Antminer S9 , John is mining from his house garage and pays 10c for 1kwh and the Noah sends his equipment to data center and gets deal for 5c kwh all inclusive. Of course the Noah whose power is 5c for 1kwh will do his ROI much faster, so for him it will be less risky investment.
Always this is not the case and there is possibility that newer mining hardware will be released. In that situation both of the guys might loose their investment , as the new hardware might be more efficient. And there wont be any profit using the previous generation hardware.
Im in mining business for over 3 years now and have been trough up and downs. Have gained a lot of experience by mining and also distributing hardware. Have made big gains and also very big looses buy buying large quantities of asic mining rigs. Asic mining is the most dangerous, but people still do it as it is sometimes more rewarding then gpu mining. A have got burned a lot of on the asic equipment, but not so much with gpu miners. The beauty about gpu miners is that if you choose the right hardware there is a lot of variety coins of to choose for mining. And i could bring you stable profit.
So before you get in mining , do your business plan first. Do all the calculations, think all the details trough, all the small expenses. Cause everyone case is different, someones power might be slightly more expensive. But he is using somewhere else the heat produced from mining, and saves other expenses like for example heating or growing tomatoes costs. Don’t forget also to check current mining equipment profitability, best sites to check is :
- https://whattomine.com for GPU mining
- https://www.asicminervalue.com for newest ASIC miner hardware
But be very careful about asic miner profitability, dont get flashed about seeing high profitability rating. Always remember if new miner is released on preorder, the profit will be much lower when you will receive miner. And the second thing that newer generation miner lot more efficient miner could be released by different asic miner manufacturer. In that way you might not even get your invested money back. If i would suggest Asic mining , i would say that choose to mine coins like Litecoin or Bitcoin. Because these coins are one of the oldest, and the mining has got very advanced on them. Newer generation miners wont be so often released and wont be as highly overate profitability.