Post
Topic
Board Bitcoin Discussion
Re: Is bitcoin mining still profitable?
by
hd49728
on 06/09/2024, 11:13:11 UTC
Based on the ending part of your post, I am also curious to ask if you are already mining bitcoin? If yes, then you ought to have know if it is still profitable or not.
Mining is a long term job and a miner only gets enough experience if he does mining in bull market and bear market. Because in bull market especially in hottest phase, it's easier to get profit very quickly but in bull market drawdowns or corrections, things will start to be harder. Like recent months, after hype since January 2024 by Bitcoin Spot ETF application approvals, we have experienced some corrective months. It has impacts on Bitcoin miners and their profit certainly.

Things will become worse in bear market and by mining through a bear market, a Bitcoin miner will understand more about chance and risk in this industry as well as understand more on capital and risk management to maintain mining during most challenging months during a bear market.