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is bitcoin mining still a thing

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People also ask


  • Is it possible to mine bitcoins today?

  • Well, you can do it. However, it’s not profitable for most people as mining is a highly specialized industry. Most Bitcoin mining is done in large warehouses where there is cheap electricity. Most people should NOT mine bitcoins today. Most Bitcoin mining is specialized and the warehouses look something like this:

  • How much money do bitcoin miners make a day?

  • That means in May 2020 the daily revenue, globally, for Bitcoin mining is: $8.45M How do Bitcoin miners calculate their earnings? You鈥檝e probably heard the scare stories about Bitcoin mining鈥檚 energy consumption. Regardless of whether the impact is overblown by the media, it鈥檚 a fact that the underlying cost of mining is the energy consumed.

  • Is China鈥檚 cheap coal still a godsend for bitcoin miners?

  • Yes, despite the recent mining ban in one of its provinces, China鈥檚 cheap coal is still a godsend for Bitcoin miners. This is why almost 2/3 of all Bitcoin mining is occurring in China.

  • Is bitcoin mining profitable or worth it in 2021?

  • Is Bitcoin Mining Profitable or Worth it in 2021? Malcolm Cannon Jordan Tuwiner Last updated March 2, 2021. The short answer is yes. The long answer鈥?it鈥檚 complicated. Bitcoin mining began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes, mining from their bedrooms.