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
This question should not be asked as general because there's no general answer for this question, as the profitability factor depends on many things like you need to figure out how much investment you can afford, how much energy is costing you and what is the climate in your area as the powerful machine setup needs extra power for its maintenance. At the same time, it also depends on who you want to mine as a self-miner or pool miner.
In the market price affects your profits directly as miners need to meet their regular expenses by selling the Bitcoin they've earned and in bad market situations and bear cycles it really seems profits might decrease by 1/2 and even more for a long period of time, if you have backup money and good investment amount. You can try.