Mining Never Dies
Recently, the crypto market have been awash with whispers claiming that mining has become unprofitable. The whispers claim that electricity costs have made maintaining the equipment unsustainable and restricting regulation is prohibiting miners from mining in peace. But is it really so? Or are the whispers merely the phantoms of minds not wielding sufficient knowledge about the true state of affairs and opportunities available on the market.
Few can competently answer the question what miners are rewarded for without deviating into fabricated hypotheses. Miners get their rewards for maintaining nodes, which are the basis of the blockchain network. Maintaining the nodes means having sophisticated and high power equipment that can solve complicated mathematical equations. The more powerful the equipment, the higher the chances that the miner’s solution will be approved by consensus of the nodes and the miner will receive a reward.
In theory, mining may cease to be profitable only if the cost of mining equipment and electricity bills exceeds the amount of the reward. But the theory has yet to be proven viable, as there are dozens of locations around the world where electricity bills are meager. Such locations that have begun hosting mining hotels – legal hotspots and hubs that maintain large arrays of mining equipment that generate profits to their shareholders in the form of cryptocurrencies.
It is true that mining using video cards has outlived itself, as industrial mining schemes are replacing them. Asics cards and specialized mining hardware is considerably better suited for complicated computations, as it helps distribute risks and reduces the cost of entry.
That is why the Astra mining pool has emerged as a leader and pioneer in the field of a completely new generation of cloud mining, which entails fully remote operation of mining equipment without the need for physical access to it by its owners.
Mining will remain profitable henceforth, regardless of the market situation. Cryptocurrencies are already gaining widespread application and recognition. Their popularity and hype are growing day by day. It would be foolish not to believe that the protracted downtrend will soon end and the capitalization of the entire crypto market will soar again.
As a high-profile operation with an immense equipment pool and uncontested conditions for its shareholders, Astra is set to spawn the crest of a new wave for miners to ride on into a profitable future.