Is mining still profitable?

[Zain Javed1 38]

Dear, mining is all time profitable but with the increased in the mining market of members it create some difficulty to new one. Many mining sites like Bee and pi is presented by different forum. 

[JanBomCrypto 494]

33 minutes ago, Zain Javed1 said:

Dear, mining is all time profitable but with the increased in the mining market of members it create some difficulty to new one. Many mining sites like Bee and pi is presented by different forum. 

Please, do you mean there are some mining on this forum, like Bess and pi? I will like if the question is answered.

 

Mining is profitable, most especially because the price of the coins that are mined are increasing price which make sit profitable but you are right that the mining difficulty is increasing but still profitable to mine. 

[Naveed15 335]

we know that Mining BTC on computers is very expensive and costly. speciall when it overheat your computer. And the rate of mining is also very low. That's why people prefer to earn instead of mining.As it is also discussed in many topics that mining is not too much Worthy as it is too much costly in electricity as well as it consume much electricity to so if you can afford that you can do mining

[Omran123 27]

In my opinion, my friend, mining is profitable because it is still in the market who can work in this field very strongly, but needs sufficient experience in mining properly, so in my opinion it is profitable. Thank you my friend

[David84 1191]

Mining for profit is not such a good idea. It is no longer profitable, I hear about people that used to earn a lot in the past years using mining and with minimum possibilities too , but this does not work anymore , because nowadays you need powerful devices to mind and that is not to mention the electricity consumption and the cooling that you need to provide, the costs are to high to afford.

[isther69 521]

The difficulty of mining does not stop growing ... even when the price of BTC drops they do not stop connecting equipment to the network so it gives less and less profit ... what is now unprofitable in a few months is likely not to be anymore ... unless the price of BTC shoots up to new highs ... mining is a very high risk but unlike others I am not going to recommend that you buy coins instead of mining because if there is a good time to start mining is when the equipment has a low price.

[velasco19 1753]

Honestly, mining is profitable if you have high capital to buy the necessary machines and be able to cover the cost of electricity, for example in Ethereum an individual person was mining in losses when the price was around $ 200 and currently it is already profitable because the price of ETH compensates for the expenses mentioned above.

[meme9988 13]

Yes, my friend, mining is profitable at times, especially for countries that use solar energy or where electricity is cheap..because when mining, you need to do more for the sake of costs.

[Sandra98 199]

In short, my friend, in order to be able to make a profit from mining, you must generate a high hash, and to generate a high hash, you must have a mining device, do not try to get a profit from mining through a normal phone or laptop.

[Sheikh Zia 5]

Mining is a good source of income for those who can not make their business yon their own. It provides you the crypto currency without doing efforts and especially it protects you from the headache of business problems.

Edited January 17, 2021 by Sheikh Zia

[Eezabell 339]

Yes the Mining of the Crypto is still Profitable like the trading and the Investing of the Crypto In the Yobit Invest Box. This is what the mining is the Life Partner of many people in the World. The People From the Pakistan and the Middle East are still using the mining of the Bitcoin and the ZCASH.

[Pranto1 40]

If you have a low cost power source, it is profitable.  There are many renewable energy companies that you can discuss terms with.The service provider maintains and supervises for a fee, while the investors return at the end of the agreed time.

[jibrannysalim 92]

@speedxp Obviously, mining is not profitable as it involves the usage of a lot of energy and time to earn a low amount of income but if you intend to HODL the tokens for a token to pump as days goes on they could be profitable

[KarlJohn1 56]

1 hour ago, CryptoSkye said:

As you have said, it has been a long time but yeah, mining still has its own value and profitable. Though I can not assure you truly, but try mining different crypto currencies unlike Bitcoins which is pretty hard to mine nowadays. 

@CryptoSkye Bitcoin mining is getting more difficult as the mining reward is reducing right, and also as the mining difficulty is increasing. But did you know that the mining difficulty algorithm is set to make new bitcoin which is currently 6.25 btc to be mined in averagely 10 minutes and also the increase in bitcoin price resulting to bitcoin mining to still be profitable. 

[Ahmad Shahzad 91]

Dear friends!According to my guess, mining is not profitable. Our time in mining is wasted.According to my guess there is no such website or any app that is true.I would like to tell our friends not to waste time on mining.

[GanBin 705]

49 minutes ago, Ahmad Shahzad said:

Dear friends!According to my guess, mining is not profitable. Our time in mining is wasted.According to my guess there is no such website or any app that is true.I would like to tell our friends not to waste time on mining.

Where did you hear that from, or just a wrong guess, this is not a guess forum, if you don't know something, then do not comment about it. Why are miners busy mining and more miners joining if mining is not profitable. 

[Bitpapacoins 61]

2 hours ago, GanBin said:

Where did you hear that from, or just a wrong guess, this is not a guess forum, if you don't know something, then do not comment about it. Why are miners busy mining and more miners joining if mining is not profitable. 

Good question. Like before the price of bitcoin was even less than $10000 and now at almost $40000. The price increment is enough to be sufficient for miners to gain from mining, also is ethereum mining and many other coins like that. 

 

[duygumtr 24]

Only few countries are profitable where there electricity is cheap or they may use solar power. I tried to mine electroneum and stopped because of low amount of coins it will mine.

Mining is not a work just we need to leave the system aside. BTC is good for mining, but the power usage will be more where we loss money for energy.

[AdCoins135 37]

On 1/17/2021 at 10:28 AM, John Pernia said:

I think, that depends on the capital invested in equipment for that purpose. Since it can generate a huge expense in electricity and that is reflected in an increase in the amount of the electricity bill. 
It would be more profitable, to do tranding with crypto-currencies of course if you know how to do it.

Yes, mining depend on the capital, there are some that do not have the capital and join cloud mining but lose because cloud mining is risky and most people are losing. But having cheap electricity with cold weather and pool mining will make mining to profit someone. 

[Samia Fatima 161]

Yes minning is still profitable for people. Especially for counteries that use solar energy. The dificulty of mining does stop growing. You need to do more for the sake of cost. You need a trusted mining site. Thanku

[GanBin 705]

On 1/21/2021 at 12:25 PM, Bitpapacoins said:

Good question. Like before the price of bitcoin was even less than $10000 and now at almost $40000. The price increment is enough to be sufficient for miners to gain from mining, also is ethereum mining and many other coins like that. 

 

You are right, exactly what I am talking about. The mining difficulty is truly increasing, the mining reward is truly decreasing but the price of bitcoin or other crypto that are increasing makes it still profitable to do as a business. 

[Mahmod aljarah 1383]

Yes, many people still do mining operations, and because of the great demand for this process .. and the increasing need for devices with high specifications and relatively large energy sources, it has become very difficult for newcomers to enter this field of currency mining.

[ltml 16]

Hello. Mining is profitable for us, but it also depends on many other factors such as the equipment used and the cost of electricity, ...

[Akhi2021 131]

Dear, you have to dig for more profit.  If you want to make a profit from mining you have to start mining bitcoin mining and many other currencies like crypto mining so I urge you to dig bitcoins.  You will benefit by crypto mining.  Thanks

[ammarkhkkh 753]

I think that mining is profitable when you have a computer with strong hardware, because the mining operations are now very complex and need strong hardware and also need electricity permanently, and this is very expensive.