After the May halving, the mining of the first cryptocurrency began to bring less income. However, this activity can still remain profitable, and if the bitcoin rate grows, revenue will increase.
Mining is one of the most popular ways to make money on cryptocurrency. However, Bitcoin mining stopped being available a few years ago, now it requires serious investments, as well as access to cheap electricity and device maintenance. But you can effectively mine the main digital coin, making a profit on it. Like everything in the blockchain industry, mining is not a risk-free business, so you need to be prepared for possible losses, up to the complete loss of all initial capital.
In May, a halving took place on the bitcoin network – the mining of cryptocurrency began to bring half the income. However, the complexity continues to increase, making popular devices such as Bitmain's Antminer S9 obsolete. The most profitable miners after the halving were the Whatsminer M30S ++ miners from the Chinese company MicroBT, they can work with a hash rate of up to 112 TH / s and will bring in about $ 10 per day at an electricity cost of $ 0.03 kW and a bitcoin price of $ 11,400.
The second place in terms of efficiency is currently occupied by a device from Bitmain Antminer S19 Pro. His hash rate reaches 110 TH / s, and his daily profit will be just under $ 10. For comparison, under the same conditions the S9 model will bring in about $ 0.60 per day. However, these are only average results calculated by The Block analysts. The profitability of devices can vary from the cheapness of the conditions of their maintenance, electricity and other factors.
Mining is influenced by the cost of purchasing equipment, the price of electricity, the complexity and cost of bitcoin, explained Dmitry Shuvaev, Development Director of BitCluster. Complexity is a measure of how many devices on the network are mining BTC. The higher the difficulty, the lower the mining profitability. The expert suggested considering an example of buying a new generation device Antminer S17- 73 TH / s.
The formula for calculating the profit of mining equipment:
= (86400 * 6.25 * 73 * 1000000000000) / (difficulty * 2 ^ 32)
where
86400 – number of seconds in a day
6.25 – BTC is credited for the mined block
73 – number of TH / s per device
difficulty – difficulty of the network
With today's figures, the device will mine 0.0005219 BTC per day (0.01565 BTC per month). The cost of electricity at a price of 2.85 rubles and a device power of 2900 W / h will be:
2900 * 2.85 * 24 * 30.5 / 1000 = 6074 rubles / month
In this case, the profit:
Revenue – expenses
0.01565 * 11738 * 74 – 6074 = 13 593 – 6 074 = 7 519 rubles / month
The payback period with an average cost of equipment of 120 thousand rubles will be 16 months, which is an average indicator taking into account the current cryptocurrency quotes.
“The higher the cost of bitcoin, the higher the profitability from the device and the shorter the payback period. You can enter the market with one device, but we recommend doing this with a volume of ten devices or more, ”advised Shuvaev.
Subject to the purchase of ten Antminer S17 devices, the initial investment will be about 1.2 million rubles, the profit will be from 75 thousand rubles. per month, however, the calculations do not take into account the rental of premises for the equipment and its maintenance. These issues are handled by special companies that, for a fee, place customer devices on their premises and service them.
Also, in addition to buying equipment, you can rent it. LAZM COO Philip Modnov said that access to the computing power of the S17 for two years costs the company's clients an average of 74,000 rubles. for a unit. Monthly expenses for all services with energy – 6000-6900 rubles. The customers' revenue per month is about 11,100 rubles.
However, when renting devices and capacities, you must be extremely careful when choosing a company that provides such services. In the field of mining, as in principle in the field of cryptocurrencies, there are a lot of scammers who come up with various ways to deceive.
Experienced miners advise beginners not to spend their last money on a mining farm and not take loans. In addition, they recommend being careful when choosing devices and judging income prospects wisely. You need to be prepared to lose everything due to the volatility of the cryptocurrency market or due to scammers. Sometimes the mining bet may not pay off.