I am so glad I got out of the mining game and managed to do it at the correct time.
Btw what is the current lowest price for GH/s for a complete product and have we reached the point where the electricity cost has surpassed the mining revenue?
Btw what is the current lowest price for GH/s for a complete product and have we reached the point where the electricity cost has surpassed the mining revenue?
It's getting there if you have expensive electricity.
Antminer S3+, $210 USD, 450 GH/s
income = $2/day
electricity@$.15/kwh = $1.25/day.
I'm not growing my farm now, but the income and spare heat is quite nice this winter.
These attract VAT+duty when imported in the EU, so the total comes around 250USD. Then you need a PSU, so let's say 30USD more.
Total = 280USD
Basically these will never see break even.
Here in the UK these will bring 0.30GBP profit daily
this.
we should be seeing a far bigger drop in difficulty than we are. however, from what I see across these forums, there seems to be even more new miners than there was last year at this point. insane.
the only reason I still have 8TH/s running is because my electric is free. If it wasn't for that, I doubt very much i'd have such 'confidence in the price of bitcoin'
I don't think we will see a very big drop in difficulty, because mining has moved from the home of the average person to large industrial data centres where they pay cheap electricity rates.
So these mining companies are still very much profitable.