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Author Topic: Buy a Miner or Bitcoin ?  (Read 275 times)

robertsmark

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Buy a Miner or Bitcoin ?
« on: February 12, 2021, 11:25:21 AM »
Worth it to drop 5k on a decent miner that mines .20 Bitcoin a year or 5K now to get .10 Bitcoin?

It's hard to predict, but I can tell you one thing ... as Bitcoin's prices rise, so does network hash-rate and mining difficulty. So that 0.20 estimate will get smaller and smaller over the course of that year, and your miner's profitability (BTC earned vs. power costs) will shrink.

I used to have ANTMiner S3s back in the day ... they heated my apartment thru the winter and earned some coin cuz BTC price vs mining difficulty was at a good ratio. But when BTC prices started roaring and new ASICs were deployed, those S3s started becoming more and more of a liability. Someone offered me too much money for them one day (not much less than I originally paid for them), and I helped him load those things up in his truck on the spot, then he paid me an extra $50 to set them up at his house.

Since you simply cannot compete with industrialized mining operations as an individual with only $5K, I'd say just buy some BTC electricity costs would eat up most of the potential profit. I would not even think about it

Principe

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Re: Buy a Miner or Bitcoin ?
« Reply #1 on: February 12, 2021, 01:19:25 PM »
Totally agree with you. There's no point on "amateur" mining.
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