Post
Topic
Board Mining speculation
Re: Has Bitcoin mining ever been so unprofitable?
by
Bucc5207
on 13/03/2018, 11:46:10 UTC
I've been mining for a little over a year with my first S9 arriving in Jan 2017.

During this past year, no matter the price, it never dipped below an equivalent of $15 per machine per day.  The last two months, however, the difficulty nearly doubled and daily profits have dipped down to around $8-9.  
[Chop]
Has the profit ever been this low?  I'd appreciate any insights.

I think you are confusing revenue with profit, but here is historical revenue data.  I downloaded from blockchain.info two files:  Miners Revenue (total value of coinbase block rewards and transaction fees paid to miners) and Hash Rate (estimated number of tera hashes per second).  I divided the first by the second to get revenue per TH/s, et voila ---

https://i.imgur.com/mjIgED9.jpg

Their 'hash rate' is an estimate based on block solution times.  I also downloaded price and difficulty data and calculated expected revenue using the usual math.  That gave a very similar result, but it was a lot more work.  

I hope this provides some insight.



(Moderator's note: This post was edited by frodocooper to remove inline image tags.)