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how profitable is bitcoin mining

how profitable is bitcoin mining

how profitable is bitcoin mining插图

Best answer


Bitcoin mining is a highly competitive industry with narrow profit margins. The primary input is electricity,although significant upfront investments in hardware and facilities are also required. Profitably relies mainly on consistent access to low-cost electricity applied to the most efficient hardware.

People also ask


  • Is bitcoin mining still worth it?

  • Bitcoin mining can still make sense and be profitable for some individuals. Equipment is more easily obtained, although competitive ASICs cost anywhere from a few hundred dollars up to about…

  • What is bitcoin mining and how does it work?

  • Bitcoin mining is the process of earning bitcoins in exchange for running the verification process to validate Bitcoin transactions. These transactions provide security for the Bitcoin network, which in turn compensates miners by giving them bitcoins. Miners can profit if the price of bitcoins exceeds the cost to mine.

  • How to buy Bitcoin for profit?

  • Bitcoin was the first cryptocurrency to be published, and this is partly the reason for its popularity. Mining is one of the main ways of getting this cryptocurrency. However, you can buy Bitcoin on exchanges like Bitcoin Loophole. This platform facilitates the purchase and sale of Bitcoin for profit.

  • Is bitcoin mining still profitable in El Salvador?

  • The U.S. dollar continues to be El Salvador鈥檚 primary currency. Bitcoin mining can still make sense and be profitable for some individuals. Equipment is more easily obtained, although competitive ASICs cost anywhere from a few hundred dollars up to about $10,000.

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