Suitable moment for mining: What factors affect the yield of bitcoin extraction – Bits Media

The benefit of Bitcoin mining is unstable and is very different in time. Sometimes this is profitable, and sometimes - unprofitable. What factors affect the production of bitcoin?

What caused the popularity of mining

New BTC coins are addressed Thanks to mining. Due to the production process, not only transaction confirmation occurs, but also the functioning of the entire blockchain. Mining is a kind of competition to solve a "mathematical problem". That, Who will find the answer first, He will plow the kush. After which the cycle will be restarted.

The popularity of mining is not only high, And in the long run - it is growing. Enthusiasts do not scare losses, which can be caused by volatility, labor costs and inconsistent income. There are too many possibilities mining in comparison with other profit sources. The growth of popularity is evidenced by a gradual increase in the level of hashReite on the network.

The main advantage of bitcoin mining is potential margin. This indicator of cryptocurrency is much higher, than a bank deposit or shares. Besides, Whoever says, but mining is "relatively environmentally friendly". For mining, you can use without loss a variety of electricity sources: From traditional (coal, gas and so on) to renewable (Associate gas, wind, water, Sun).

Part of the crypto enthusiasts can ask a logical question: Is it worth it to invest in mining now, After all, its complexity is constantly growing, Like the hash? Let's try to answer this question.

When mining bitcoin makes sense

As in any activity, The meaning of mining is, so that your expenses remain below your income. First you need to find your breakebility point taking into account, how much will specialized equipment cost (ASICs), Prices for electricity, The specific time of mining (BTC price is dynamic, At different times, profitability is different). At the same time, you can put in calculations as the current cost of bitcoin (At the time of writing the material = about $ 27,200 according to the Bitstamp exchange data), so the expected you in the future.

Electricity costs

According to the engineer of the Hiveon mining ecosystem, Kiton Rekard (Keaton Reckard), now it is worth mining only when, If the cost of one kilowatt hour (кВт⋅ч) For you, it is 10 Certs or below. It is worth taking into account the geographical factor. Naturally, In countries, where there are no problems with energy resources, Mine will be cheaper, rather than there, where electricity has to export (eg, noticeable part of Central Asia).

Buying some ASIC is a simple task in modern conditions. The problem will be effective. If you decide to buy the most modern new equipment models, then they will cost a lot.

Now, Entering
The official website of one of the largest iron manufacturers for cryptocurrency mining, Bitmain, You can see: The Bitcoin Miner S19 XP Hyd model is worth $8481, that approximately 685,000 rubles. Besides, will have to spend money on delivery. therefore, perhaps, It is worth turning your eyes to used equipment, which is usually much cheaper. Well, or at least for not the most expensive equipment with exceptional solutions (For example, in the form of the same water cooling with performance, "Close to the flagship").

Market value

Historical maximum bitcoin was shown in November 2021 years - $ 69,000 (According to the same Bitstamp). Obviously, that then BTC production and the subsequent transfer to dollars were more profitable, than in early June 2023 of the year, when the price is slightly exceeding $ 27,000. However, not everything is so unambiguous. Commissions on the Bitcoin network continue to grow, And with it the benefit for miners is growing.

In order to calculate the yield of mining, You can use online calculators. They differ in complexity of execution and taken into account the characteristics, Therefore, data, which you get, will not always be the same. for instance, Bits.media calculator.

The ideological aspect of mining

Getting profit is not the only motive, driving individual miners. There are those enthusiasts, who seeks to support the decentralization and anonymity of the network, for which BTC was invented, and mining is an integral part of the implementation of the concept.

The process of cryptocurrency mining contributes to solving the problem of "double expenses". In the world of fiat money, this dilemma is solved using centralized institutions like the state. The decentralized bitcoin has a solution to the problem is given to miners. The idea to no one depends on many crypto enthusiasts a fairly important addition to the opportunity to enrich themselves.

Halining influence

Halving is a reduction in a reward for the production of a block in bitcoins in half. It happens every four years. The last halving was in 2020 year, And the next is scheduled for spring 2024 of the year. Naturally, He must influence the price of historically the first cryptocurrency.

Which? On the one side, purely statistically, Until now, after halving, Bitcoin has always grown in price. On the other side, Statistics are not a guarantee of repeating events. FROM 2020 years, many investors reoriented their attention to other coins. I.e, A big role in that, How will the price of BTC change after halving, will play the demand for the first cryptocurrency. Generally, The entrance to mining before halving was usually a profitable for those investors, who was aimed at a long -term strategy. Do not forget: During a low btc course, equipment for its production is cheaper to sell.

Conclusion

Mining itself is a complex process, and make it profitable - the more the task is not from simple. To succeed, It is necessary to take into account several factors: The cost of electricity, The cost of equipment, Prices and demand for Bitcoin itself, The proximity of halving. Learn the announcements of the release of new equipment, its technical characteristics, and compare with the current solutions. In that case, If the BTC course is traded in relatively low and in the rest of the parameters everything speaks in favor of price growth - it is possible, A successful entry point has formed on the market. Yes, To take into account all the factors in aggregate is not easy, And it is worth remembering: The process is associated with the risk of losses.

This material and information in it is not an individual or other other investment recommendation. The view of the editorial office may not coincide with the opinions of the author, analytical portals and experts.