Some people are negative and very narrow minded. they have no vision for the future, they think that bitcoin is a bubble that can burst at any time, so making guaranteed small income is more appealing to them than taking a risk on a large payoff.
Because the bitcoin price is not stable and It could suddenly drop drastically and mining bitcoin has become increasingly more difficult. These miners cost a lot of power, high electricity bills etc. This may be the reason why they rather rent the miner to other people because bitcoin is going to run out sometime in the future and the risk reward is to little for them.
Why wouldn't they? They sell time on a $2k mining rig for $2k/year. That's guaranteed $8k over 4 years, and you pay for the maintenance. Holding bitcoin is risky since its price fluctuates wildly. Some people are very risk averse.
They actually do it to short time increase mining funds aka to expand/ improve mining farms and pay bills. They probably rent 90% of their miners and the rest are fro themselves to speculate
^^^ Exactly. Any unrented machines are still up and running raking in cash while rented ones pay the bills guaranteeing at least breaking even on the investment of buying mining rigs
They actually do it to short time increase mining funds aka to expand/ improve mining farms and pay bills. They probably rent 90% of their miners and the rest are fro themselves to speculate
The reason for that is they can have lower risk for decent reward since the miners are paying for basically all maintenance therefore they can make almost guaranteed profit. Most contracts last only 1 year so you can do the math if you want .
they are renting the machine which are usually outdated...or they will run themselves and pay you part of money and remaining half will come from mining...there are different ways
Some people are negative and very narrow minded. they have no vision for the future, they think that bitcoin is a bubble that can burst at any time, so making guaranteed small income is more appealing to them than taking a risk on a large payoff.
Because the bitcoin price is not stable and It could suddenly drop drastically and mining bitcoin has become increasingly more difficult. These miners cost a lot of power, high electricity bills etc. This may be the reason why they rather rent the miner to other people because bitcoin is going to run out sometime in the future and the risk reward is to little for them.
Why wouldn't they? They sell time on a $2k mining rig for $2k/year. That's guaranteed $8k over 4 years, and you pay for the maintenance. Holding bitcoin is risky since its price fluctuates wildly. Some people are very risk averse.
They actually do it to short time increase mining funds aka to expand/ improve mining farms and pay bills. They probably rent 90% of their miners and the rest are fro themselves to speculate
^^^ Exactly. Any unrented machines are still up and running raking in cash while rented ones pay the bills guaranteeing at least breaking even on the investment of buying mining rigs
They actually do it to short time increase mining funds aka to expand/ improve mining farms and pay bills. They probably rent 90% of their miners and the rest are fro themselves to speculate
The reason for that is they can have lower risk for decent reward since the miners are paying for basically all maintenance therefore they can make almost guaranteed profit. Most contracts last only 1 year so you can do the math if you want .
they are renting the machine which are usually outdated...or they will run themselves and pay you part of money and remaining half will come from mining...there are different ways