Is bitcoin mining profitable?

Bitcoin mining is a competitive industry with thin profit margins. The profitability of mining depends on the price of bitcoin, the price of electricity, and the hardware being used to mine.

How much electricity does bitcoin use?

Most Bitcoin mining uses energy priced between 2.5 and 8 cents per kilowatt hour. This is significantly lower than the retail energy prices of most households, meaning that mining from home is usually unprofitable. Miners with newer, more advanced ASICs can afford to pay higher electricity costs because their machines are more efficient.

How much money can a bitcoin machine make?

The following table shows that the majority of the most modern machines could remain profitable at a bitcoin price between $5000 and $6000. Some machines could handle a drop below $5k, if they are being run with electricity that costs under $0.05 kWh. Unfortunately most older machines are now no longer profitable even in China.

Is yield farming a good way to earn bitcoin?

Even so, mining continues to grow in scale and efficiency, which means there are new ways to earn Bitcoin such as yield farming, which leverages existing crypto assets to generate a return. We’ve put together an update on the state of Bitcoin, cryptocurrency, and blockchain industry trends to help you get started.