Hello everyone! Since mining isn’t that popular anymore I’m curious is BTC mining still profitable?
I’ve really many equipment since I was mining ETH back in 2021 but when it changed from PoW to PoS I’m not sure about its profitability..I mean only 3% APR and much more money to invest now. So, do you recommend to stick to BTC mining or switch to staking? I saw crazy APRs like 150% but not sure about it
Yes bitcoin mining is still profitable. However it's not as rosy as it was during the very first 4 years to 8 years of it's launch. Mining was most profitable during the periods of 2009 to about 2012 when back then each successfully mined block had a net reward of about 50
BTC. However during those periods the price of bitcoin wasn't as high as it is now so then it really didn't seem like much of a big deal.
Mining currently is very competitive and one of the biggest problems miners face is actually electricity costs. If AI can remember vividly I the philipma1957 used to have a solo mining farm he stopped because it became very uneconomical in terms of profit since electrical cost was already becoming a problem.