Is IOTA more profitable than Bitcoin

What does it cost to build a Bitcoin mining rig today?

Mining-Pool Poolin.com has made an updated analysis of the current costs of building a profitable Bitcoin mining rig. The information provides a unique insight into the complexity of the ever-changing mining landscape.

Determining the cost is complex

In the article, the mining pool notes that there are a multitude of individual variables that determine profitability in mining. Poolin has made a mining profit estimate that breaks these factors down. This way you can better understand which investment has the best value.

Example:

It is important to note that electricity costs vary greatly from place to place and are the most important factor in long-term mining costs. As a result, more power hungry systems that produce a higher hash rate may be better suited to areas with cheaper electricity - but less suitable if the cost is higher.

The "break-even" factor that the mining calculator tries to determine is critical for all mining operations. This is the value of the cryptocurrency that must be produced in order for the cost of the facility to be paid for.

For example, a Bitcoin mining platform costs $ 1,767 to build and run, generating a profit of $ 4.56 per day at current prices. So it would have to run for 387 days to be profitable. This figure takes the electricity costs into account.

In addition, however, there is the fact that the systems will still consume electricity even after reaching the breakeven point. So they will only remain profitable as long as they produce enough crypto to cover those costs.

Poolin calls this the "shutdown price". Determining when an asset has exceeded this threshold can be very difficult.

Bitcoin mining can still make a profit

There was often talk of large pools taking over the mining area, especially with regard to Bitcoin. Of particular note is the fact that the most advanced mining equipment is often available to these companies months ahead of consumers.

For example, critics have long accused Bitmain of using its modern equipment exclusively for its own mining companies and only selling the older systems on the open market.

Therefore, successful Bitcoin and crypto mining requires a very careful eye for detail. Efficiency must be the top priority as every variable will play a role in the end result.

This includes equipment costs, electricity costs and the choice of platform to be dismantled. However, with proper planning and access to the best information, profitability can be achieved.