I calculated 4 months breakeven for antminers around middle last year. It is at least 10+ months now and this is without difficulty increases. And there is major asic overcapacity going forward, thus, bitcoin mining will never have good profitability like before ...
Indeed. I've been looking at mineral oil, but it has a lot of up front expenses. If done right, and at scale, it could provide an edge by consuming about half the electricity. Though I see the next big area of profit being a big jump in hashpower. If somebody would make a 50 TH/s miner, that'd surely be profitable for a while. However, I'm not sure I see that playing out due to high up front costs.
Well, my thoughts. The problem is OVERCAPACITY of mining equipment.
But only other people's gear ... at least that's how I feel.
From mid Nov to mid Feb, the difficulty went from 1.4T to 2.8T. Price didnt double from Nov to Feb.
Insane, but true.
People are used to btc already. It isnt hyped up in news like last year. So, price increases are slower assuming they continue.
We have entered a new era. There were a lot of early promises over the past couple years, from banking the unbanked to overturning the entire power structure. It's going to take a time and nobody knows how it will develop. All we know is that before government decree for money, it was commodities like stones, shells, metals.
I, also, know that I've used crypto for many payments and the highest points of friction have been exchange between USD.
... bitcoin mining will never be as profitable as before.
Do you know anybody with experience running a BTM business? I'm exploring starting one in El Salvador.