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Questions about the profitability of Bitcoin mining

Hey guys,

I’ve recently started doing more research into crypto as it has interested me and I’ve been seeing related content pop up. I’ve been researching specifically the mining process and had a few questions around it;

I’ve been looking at a number of rigs but this is one that caught my eye in particular: [https://www.asicminervalue.com/miners/bitmain/antminer-s19-95th](https://www.asicminervalue.com/miners/bitmain/antminer-s19-95th)

As you can see it shows it being extremely profitable, and I’ve found them for sale for less then $2k. I’m a bit skeptical because when things seem too good to be true they usually are, I contacted one supplier who also confirmed that it made $37/day, but they seemed a bit off so I thought I would check here.

My main concern lies in the actual process. I have limited knowledge of the process but it sounds like the machine is guessing these 64 digit hashes but if another machine arrives at an answer less than or equal to the actual code they get the ‘reward’ for the process and you may not. If that is the case I don’t know how you can make a steady profit from these machines aside from if you are being paid for attempts instead of actual solved hashes.

My main question is simply if these machines actually do generate a static profit every single day or if this is actually too good to be true.

Thanks for any info!



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5 Comments

  1. Unless you have extremely cheap power and can buy a lot of these miners in bulk, it’s WAYYY more profitable to just buy and hold with the money you would have spent.

    The problem is profitability drops off a cliff as soon as new miners are released.

    You can’t beat large operations who have deals with the asic manufacturers to get the newest equipment before anyone else.

  2. Likewise, I have just started getting into mining after simply investing for the past few years. From what I’ve read ASIC’s are best for mining BTC but others might be better for ETH etc.

    Have you actually started yet or just looking into it, if you have started what software did you go with?

    Also you have to factor in energy use when calculating profit so the $37 figure might be inflated

  3. Just figure out how to make your current setup work. It’s ok to lose $.24 a day mining $.35 worth to test a few coins. Figure out if you love it before you set up the windy shrine in your home

  4. I mined for a while when S9’s were the shit, and I definitely did make BTC. But if I would have simply bought BTC with the $$ the miner cost, I would have made even more. It’s loud, produces a TON of heat, and you WILL notice it on your electric bill. And you don’t know how long your miner will be profitiable.

    That said, it’s the only truly anonymous BTC I own.

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