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
Bitcoin doesn't have staking function because it isn't using proof of stake but using proof of work. Mining Bitcoin isn't profitable for a solo miner because of the money that you'll need to start up your mining farm and be competing against other big companies that are into Bitcoin mining and are already doing it before you. They have the experience and more money to have many mining machines than you. As a solo individual, you can decide to use that money that you wanted to using in funding your mining business to invest in Bitcoin through DCA.
You are going to make more money investing than trying to mine Bitcoin. Mining Bitcoin has expenses that you mightn't have the ability to cover because electricity is getting expensive.