Since 2007, more and more people started mining bitcoins and the mining difficulty skyrocketed making mining harder en harder. A few days ago I asked myself this question: "IS MINING BITCOINS WITH MY TIME AND MONEY ? ". Well the answer is NO.
After doing some research, I found out that I need at least 13TH/s to generate 1BTC per YEAR, in current USD thats $2480 per year.
I've found that there is an ANTMINER that is capable of generating 1.7BTC/YEAR. It's called "ANTMINER S9" with a capacity of 13.5TH/s, an energy cost of 0.098W/GH and with a price of $2000. Let's do some math:
We all know that 1TH/s is equal to 1000GH/s
EARNINGS:
1.7BTC/Year * $2480/BTC = $4216/Year
EXPENSES:
13.5TH/s * 1000 = 13500GH/s
13500GH/s * 0.098W/GH = 1323W/Hour or 1.3KW/Hour
((1.3KW/H * $0.12/KW) * 24H/Day)*365Days/Year = $1390/Year only in electricity.
PROFIT:
$4216 in BTC revenue - $1390 in electricity - $2000 the ANTMINER = $826 profit in the first year.
You will all say: "No problem, this year I had to recover the $2k that I paid for the ANTMINER, but next year I'll win $4k in revenue".
Here is when I step in and say YOUR WRONG. As I said at the beginning of this post, more and more people are joining the mining community and the difficulty grows higher and higher, that makes mining harder and more expensive. You'll need to buy more expensive RIGS to generate more TH/s.
This is my opinion of why is not worth mining bitcoins in 2017.
Please leave a comment bellow and I hope this post helped you.
Perfectly!
That's right but as the difficulty is rising in bitcoin people are switching to mine other sha256 coins.
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Very interesting
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