Quote from: stompix on February 15, 2023, 03:52:51 PM

Quote from: ETFbitcoin on February 15, 2023, 10:10:38 AM

Quote from: bettercrypto on February 15, 2023, 09:34:23 AM

Do you think 0.18$ kWh will be good to say that I can break even for this things If ever I begin to mine Bitcoin?

$0.18/kWh is definitely bad electricity rate for mining. Even if you use Antminer S19 XP Hyd (255Th) which have best energy efficiency[1], your profit is very small[2] and you'll not reach break even before more efficient ASIC comes out.

18 cents per kWh is a way to lose money for sure, you will never break even, it's barely profitable in cents a day compared to cost now, and with difficulty may be going up again I'm not sure even the most efficient miner will be able to mine and not be in red, and the S19XP Hyd is on preorder so you might get it when the difficulty is already 20% up if not more.

Even if we assume sky-high bitcoin prices in the future will make it profitable, at current rates it mines 0.00080579 BTC a day, you could simply spend those $8000 to buy 0.35 BTC now, more than the miner will bring you in 440 days without extra cost, so clearly it's way better to just buy the coins directly and not buy an overpriced piece of equipment that earns pennies and might break even before that.

OP, stick to buying bitcoins and be careful of cloud mining scams, don't fall those as you seek to enter mining.

Well, to tell the truth, one of my close friends in the crypto space told him about this plan of mine and he immediately told me that my plan would not work because it would be me in the end. said the loser, and he also said that it is certain that the money I earn will only go to what I will pay for the electricity consumption of the mining rigs that I will use.

And he also told me that the 0.18$ kilowatt is also not practical if I do bitcoin mining. So he told me that it would be better if I just use my purchase to invest in bitcoin, especially since we are about to enter the bitcoin halving again.

Because of what he said like this and what I read in your story @stompix suddenly made me think. It looks like my plan and timing are wrong regarding the thing I'm thinking about.