It’s no secret that mining profitability, volume and prices have all dropped significantly in the last six months. As always, as the facts come out, the reasons for this are pretty clear (and in some cases alarming) but how does that affect our strategy as miners going forward?
I have three mining operations. One is using a bunch of local PCs in a commercial environment to mine part time when the PCs are not in use. These specialize in Monero (XMR) as it’s a nice, low impact algorithm. It produces a few Monero a year which I have been stockpiling.
The second Continue reading “Is it still worth mining?”
This is a question I’ve been asked a few times and one we had to answer ourselves when we embarked on our own mining operation in 2017. It comes down to a combination of budget, what you want out of it, your balance of immediate return compared to long term gain and your exit strategy.
For us, we considered Bitmain’s Antminer (and ASIC miner) as a way to get Bitcoin directly. They’re hot, juicy and there have been nightmare stories about getting hold of them and getting ripped off, but they pack a punch, with the latest version, the S9 variants, producing up to 14Th/s and costing around £700-£1000 depending on source. Running at about 1600watts, it doesn’t take many to rack up that power bill. Continue reading “Should I mine ASIC or GPU?”