Litecoin mining rig 2014 nba draft
Would it still be profitable in the future? With the current exponential growth in difficulty, there must be a limit to it, right? Wrong, at least in litecoin mining rig 2014 nba draft near future. So this almost guarantees an ever diminishing decrease in mining profits.
Not to mention the thousands of Terrahash units coming online litecoin mining rig 2014 nba draft January-February would cause the difficulty to increase like crazy. The only way for mining to stay profitable is for faster miners to be developed. In the beginning, CPUs were good enough for mining. It is only a matter of time for a newer type of miner to be developed, a much faster and cheaper miner, for it to be profitable. Litecoin is still way more profitable than Bitcoin, at a tune of If you do not want to venture into the world of altcoins, then Bitcoin and other SHA coins is your only option by merged-mining.
Still, this is mostly speculation, and the only way to know for sure is to wait and see how the markets play out. Are you currently mining? The price of bitcoin is constantly litecoin mining rig 2014 nba draft and the volatility is currently extremely high.
Bitcoin mining difficulty is constantly rising. Bitcoin mining is a process that consumes considerable electric power, so you should think twice before investing in mining, if you are located litecoin mining rig 2014 nba draft a country were power costs are high. The prices of bitcoin miners are constantly changing and a large percentage of individuals involved in the mining business price-gouge most of these miners. As such, since the profitability of bitcoin mining depends on many factors, bitcoin mining profitability calculators were created to help you find out if mining will actually be profitable to you.
These calculators utilize a number of parameters, including power costs, the price of your mining hardware, your hash rate and other variables, to predict the profit of your mining efforts. There are many calculators available online to help you predict the profitability of your mining rig. We will use the mining calculator on Whattomine. The below figure shows the calculator we will be using:. The electric power consumption of the Antminer S9 is Watts.
We will consider a power cost of 0. Currently, the block reward is After entering the aforementioned parameters into the calculator, we will get the following results:. So, as you notice from the results, you will be able to generate 0. Consequently, if you do the math, you will find out that you will be able to get back the amount you invested in the Antminer S9 in less than 4 months.
It is also worth mentioning that high electric power costs can markedly reduce your profitability, so always do the math accurately and keep an eye on the network difficulty levels and the bitcoin exchange rates. Is Bitcoin mining still profitable, considering that 1 BTC Bitcoin mining is no longer profitable but is there any other Is Bitcoin mining still profitable in. Tell us your stories, both profitable or not in the comments below. Tip The Author Did you like this article?
Why not send a tip to the author as a thank you? Bitcoin miners generate a considerable amount of noise and heat. Bitcoins you mine will be taxed as they are considered a stream of income.
The below figure shows the calculator we will be using: After entering the aforementioned parameters into litecoin mining rig 2014 nba draft calculator, we will get the following results: