How Profitable Is Crypto Mining ?

How Profitable Is Crypto Mining ?

Is Crypto Mining Profitable:

These kids are making 30 000 a month crypto mining ah they probably invested like 400 000 in equipment so even though it sounds good that is a very expensive equipment behind them and they did not say that in this article those kids definitely did not have four hundred thousand dollars they had someone backing them and they are just the managers of that equipment and yes there is a lot of money that you can make crypto mining uh but you also have to understand the cost the work the dangers and don't let this headline inspire you with false streams there was a huge investment behind them getting to thirty thousand dollars a month.

How profitable is crypto mining uh very very profitable it's like one of those things when you realize it you feel like you missed out but it's really not too late at least i hope not uh and i might jump into a little bit of mining just because i like other streams of income and i'm gonna show you what i've been looking at now before we jump into all of that there's also concerns about uh renewable energy and you know the global planet so if you are going to get into crypto mining try to or at least at least consider using renewable energy

Just because bitcoin has a bad look to it so we don't want any of that negative news around it ethan moved from proof of work where you need these miners to proof of stake well at least they're in the process of that a lot of these of miners are you know just gonna shut down they're gonna move towards coins that they can mine and though uh and those are getting less popular obviously bitcoin it's gonna be out there it's gonna be uh available uh but you know uh things can change so you would be taking some risk if you're investing in crypto mining but if you survive a year you're gonna make some money let's take a look at the numbers.

 

Finding Values of New or Used Crypto Miners:

So here we go i was looking up this uh bitmain antminer v9 because it was really cheap online and i wanted to see how much value i'd be getting out of it so this is asic minor value has nothing to do with full value dan but a pretty good site to run the numbers so if we if the cost of our electricity is 12 cents per kilowatt hour these are the prices we're gonna get so if you go to this website i guess on average in like the big cities in america you'd probably be paying 12 cents per kilowatt hour for electricity and if you don't know your price google it just google it cost of electricity in your city and then it should show you the price per kilowatt hour now electricity is expensive but there are these data centers available where you could send your crypto miners and then they would host it for you.

They would maintain it they'd run it and you wouldn't have the noise and heat at home and you would even be saving money in electricity because they might have a better system especially for commercial and business electricity purposes those rates are significantly lower than residential electricity costs so jumping back into this i saw this antminer v9 on facebook or very cheap and that's because it's useless and it's going to lose you money unless you can get electricity for free and you can see that the profitability takes in the income how much you'd make per day minus how much you'd spend in electricity for that day and then your total profit if you intend in buying an older machine you should really.

Understand how much profit can you actually be making or would you be losing money and directly here at asicminervalue.com you can see the profitability of all these different miners these are all actual miners and they're not gpus we're going to get to that a little bit later but yeah you can see the profitability for these asic miners and the older they get they just aren't losing money and i'm jumping here uh tom's hardware has a good list of gpu mining and the cost so they calculate the ebay price for september 21 the graphics card the mining performance.

The daily profit and days to break even days to break even just means when are you gonna get a hundred percent roi so if you invest 293 dollars you're going to make 293 in 166 days which is really good because that is a 200 roi that's like a little over 200 percent if you are mining with that card so you can kind of see i'm probably gonna scroll this pretty fast i actually got a geforce rtx and realistically i get five to six dollars per day mining i tried out mining for a while i did not enjoy it just because i don't have the proper setup it's in my apartment it's loud it's hot i have to pay for air conditioning and yeah you really got to blast that ac because the machines get hot and it's not something i personally want to do investing is much easier or sending or setting up an actual mining rig in a data center.

 

How Profitable is Crypto Mining:

So let's take a look at the highest roi the antminer e9 three gigahash and just so you know all these miners they're sold out they're sold out because bitcoin has been hot and people can make a lot of income from and you can see here that you'd be making the income of a full-time job that's about 60 000 a year that is a good job and it's just it's printing money i would love to get one of these set up just because uh you know bitcoin is going to be around at least that's what i believe and i would love to make that much passive income every year and you can see down here where to buy at bitmain.com or let's see they do they don't have it available there's no machine actually looked earlier the only thing they do have available is the antminer s19j pro 100 tara hash per second.

At least that's what i think that means and it's 9 300 so let's jump back to the profitability calculator and let's see how much we'd be making with that type of machine and it's uh our home residence so that was the s19j 19j pro 100 tara hash and we'd be making 22.91 per day so let's use the calculator 9 300 that's the cost of the machine divided by 22 81 that was that the right 22.91 and that's 405 days in 405 days about 13 months we'd make a 100 return on our money that is good value and uh i really don't know how to express this better uh you would probably make a full 100 return on your money in one year because you also have to factor in the cost of the mining rig so after a year let's say you make uh oh it's actually better than that so the cost of the machine is 9 300 and at least with this profitability calculator with our electricity cost set to 10 cents per kilowatt hour we would make that back in a year and that's a 100 return on investment plus we still have the mining rig which is which also has value so if the question is is crypto mining profitable it is it's very profitable.

 

What I Tried Mining :

Additionally if you are going to be mining cryptocurrency there's a lot of places where you can earn passive income on it just by holding it in a certain place whether it's like bitcoin ethereum litecoin uh i think even dogecoin in some places and you just have to search for it i do have a list of places that i use and that's just like bitcoin and ethereum i've been mining flux and kadena or cadena i don't know how to say it and that's going directly through coin metro there's another video that i might make on that in the near future just because i have a lot of information on it so if you are going to be earning uh cryptocurrency consider looking into staking or ways.

You can earn interest on the crypto you are holding at least just a little bit just for that extra easy passive income and this video was sponsored by pyonex do your trading on pi and x i actually do trade and use the crypto trading bots on pionics you can't withdraw every coin on there they are a broker for will be in binance and there is no kyc which means you have full access to the coins that are already trading on binance and wobby without having to go through kyc so that benefits you there and the trading fees are the lowest out there it's point one percent uh by on huobi and finance which is very low but pi and x is half of that at 0.05 percent and if you want to get your full value trade on pi and x

 

Crypto Mining versus Crypto Investing:

Crypto mining versus crypto investing now this is kind of a hard decision because you don't know what's going to happen but crypto mining would create a consistent source of income crypto investing super high risk now if you were lucky and invested in crypto early 2020 you've probably 10x your investment that would have got you more money than investing in a crypto miner but now that things kind of uh grew a lot and things are going sideways for the most part of 2021 crypto mining does sound a lot better now i can't predict the future but it always helps to diversify your portfolio so do what makes sense for you if you want to start crypto mining try a little bit at home get comfortable with the process before investing a lot of money because it really helps to understand how everything works before committing a significant amount of money and burning your house down.

So be very careful you have to understand electrical fires getting enough electricity to the devices keeping them cool getting insurance potentially having some other service do this for you uh managing that heat and noise so it helps to start small and then scale up and yes crypto mining is profitable but there's no guarantee that it will continue to be so there is some risk in that but with the rewards the payouts the roi it's a good risk it's a risk that works highly in your favor but you know not financial advice these are just my opinions of what i think about crypto mining after doing research on it on the internet so if you want to get started mining cryptocurrency you can do that just look up what to mine check out your computer see if your computer is more optimized for cpu mining hard drive mining gpu mining and you can actually get started really easily.

I was mining on nice hash with a macbook pro back in 2017 and was making very little money but it happened to be in a location that was very cold i wasn't paying for electricity and it wasn't my macbook pro so there are things you can do i'm not gonna say where i did that but my friends can figure out where and uh even though i made a couple bucks from it that turned into a lot of money because that was in bitcoin and that was bitcoin several years ago so as you can imagine the value increased a lot uh yeah that's just another thing to consider because who knows what the value can be for mining crypto even if it's just a couple bucks a day a couple years from now could be worth a lot more if you are going to mine crypto do it on a machine that doesn't have any of your personal data.

Because you have to provide a lot of exceptions to your antivirus and you don't know what that software is actually going to do to your machine so it really helps to have no personal information on your computer if you are going to mine crypto and just have that computer just be for mining and video games whenever you're not playing video games you mind crypto whenever you're not mining crypto you play some video games and with that i hope you got your full value for today.