Last month I did an analysis on this and from what I see it is country specific and how much you spend for buying the rig and paying the electricity bill. If both the things are available for cheaper rates in your country, then mining is profitable.
There are websites that can provide you a simple calculation based on certain parameters. You can try out the below links from cryptocompare website to check if mining is still profitable for you.
I have one of my crypto friend in Chennai, India doing mining for the past one year. He hasn't been able to reach ROI yet with continuous mining yet. His profit value is also declining continuously.
If you are still keen about mining cryptocurrencies, there is an option available. You can go for smaller coins that will not require lots of efforts. Some of those coins can be a bit profitable. If you identify a good potential on a particular coin, you can even hold it for long term to see some considerable profit. Other than that mining is not going to be of great advantage now.
There have been lots of mining farms implemented in countries where electricity is cheap or free. With increase in the number of mining farms in various locations across the world, small household rigs may not give you good profit in the long run.
BTC mining is definitely not profitable at current difficulty and price. Well know mining company Hashflare has hit the point of where your maintenance fee is more than your actual mining payout, so you're basically losing btc everyday. However, other coins still might be profitable for example monero or ethereum.
It all depends on which country you are mining and what are the cost of mining in your country.
If apparently mining is not profitable one should instead of abandoning the mining all waste all his investment. one should continue to mining and instead of immediately selling them in the market, should hold the coin and wait for the market jump.
In my opinion holding the coin in longer term will convert the mining into profitable one.
Mining is still profitable, especially when mining is energy. The more the earth's population grows, the need for energy and other mining materials such as iron, tin, and others is increasing. Minerals are dwindling, mining prices are increasing, for example petroleum.
Currently, most of the energy comes from minerals. The development of technology causes the need for mining goods to increase. The price of minerals in the world market remains profitable. Therefore, the miners can not lose.
yes mining is still profitable but its depends on which coin are you mining. and which country has low electricity cost that country has more chance to take advantage of mining. always mine new coins bcz they are not difficult for mining.
There are some coin where mining is profitable at this time because they are in dip and they have good project but mining of our main king that's bitcoins is not profitable for today because its very difficult to mine bitcoin and recover your investment cost. You can better go with ETH its best option to mine right now in very low price
Last month I did an analysis on this and from what I see it is country specific and how much you spend for buying the rig and paying the electricity bill. If both the things are available for cheaper rates in your country, then mining is profitable.
There are websites that can provide you a simple calculation based on certain parameters. You can try out the below links from cryptocompare website to check if mining is still profitable for you.
https://www.cryptocompare.com/mining/calculator/
I have one of my crypto friend in Chennai, India doing mining for the past one year. He hasn't been able to reach ROI yet with continuous mining yet. His profit value is also declining continuously.
If you are still keen about mining cryptocurrencies, there is an option available. You can go for smaller coins that will not require lots of efforts. Some of those coins can be a bit profitable. If you identify a good potential on a particular coin, you can even hold it for long term to see some considerable profit. Other than that mining is not going to be of great advantage now.
There have been lots of mining farms implemented in countries where electricity is cheap or free. With increase in the number of mining farms in various locations across the world, small household rigs may not give you good profit in the long run.
BTC mining is definitely not profitable at current difficulty and price. Well know mining company Hashflare has hit the point of where your maintenance fee is more than your actual mining payout, so you're basically losing btc everyday. However, other coins still might be profitable for example monero or ethereum.
It all depends on which country you are mining and what are the cost of mining in your country.
If apparently mining is not profitable one should instead of abandoning the mining all waste all his investment. one should continue to mining and instead of immediately selling them in the market, should hold the coin and wait for the market jump.
In my opinion holding the coin in longer term will convert the mining into profitable one.
Mining is still profitable, especially when mining is energy. The more the earth's population grows, the need for energy and other mining materials such as iron, tin, and others is increasing. Minerals are dwindling, mining prices are increasing, for example petroleum.
Currently, most of the energy comes from minerals. The development of technology causes the need for mining goods to increase. The price of minerals in the world market remains profitable. Therefore, the miners can not lose.
yes mining is still profitable but its depends on which coin are you mining. and which country has low electricity cost that country has more chance to take advantage of mining. always mine new coins bcz they are not difficult for mining.
There are some coin where mining is profitable at this time because they are in dip and they have good project but mining of our main king that's bitcoins is not profitable for today because its very difficult to mine bitcoin and recover your investment cost. You can better go with ETH its best option to mine right now in very low price
Mining has always been profitable and is still profitable and will always be profitable,mining is a
good way to earn cryptocurrencies and make some money but mining just like every skills
requires having the right tools,the factor that will make you a successful miner will depend on your
mining skills and also the tools which you use for your mining so that is why you have to make sure
that the tools you are using to mine are very good and effective tools for mining