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Mining is becoming less and less profitable every year, especially on the smaller scale.
Power and cooling being the largest initial things to conquer, and the larger the scale the larger the net pipe you will need. This can often lead to needing to also have your own data center, or very close to a large center.
There are plenty of sources and forums on the net that are mining specific, or bitcoin/cryto specific. Google can be your friend.
Rick
Universal4
it depends on your risk tolerance and investment strategy. Some people enjoy the active involvement of mining, while others prefer the simplicity of holding. It’s definitely worth weighing the pros and cons of each approach!
At this point, I don't think it's economically worthwhile. If what motivates you is the enjoyment of mining, as you mentioned, then you might view it as a hobby that requires some investment but not necessarily as a profitable business.Quote:
Originally Posted by MoreLogin Browser
Might be worthwhile for solo-miners, but it depends on the price you pay for electricity (plus the BTC price and fees of course).
For example, in some countries, you cannot sell back electricity that you generate "for free" with solar, or only at very very low rates.
I personally went through the hassle of setting up a BTC full node, but that was really only out of interest and "enjoyment" as full nodes don't earn anything.
I plan to add solar to our roof in the next few years, and if until then there's a simple miner that generates a lot of heat but little noise, I might do that with excess electricity. But I'd really need a simple, low maintenance solution.
I have had experience with cryptocurrency mining, but the price of electricity eats up all the profit