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
BTC mining can still be profitable, depending on many factors about the cost of energy and equipment you already have. Returns are far better, for instance, where the electricity is cheaper. Averagely, these cheap countries in Asia record an average profit of around $20 per day for 1 TH/s, but that varies. In addition to all this, the Bitcoin halving next year might cut the block reward in half, so you'd factor that in.
On the staking side, those high APRs sound tempting but tend to come with higher risk. A lot of the 150% APR offers are from newer or at least less-established projects. Staking of ETH pays around 3-5% APR, that is decent, but will not blow your mind. If you still have your mining gear, it may be worth it to mine for a little while longer, assuming you can find cheap electricity.