Bitcoin Mining Profitability

Bitcoin mining profitability is still prevalent in 2022 even despite the serious negative downturn in the market. In the early days, Bitcoin mining profitability was far more handsome, despite newer technology being more efficient, the competition and difficulty of earning rewards from mining has increased (due to halvings).

Mining Bitcoin also requires large amounts of electricity due to the power needed for mining hardware such as ASICs to perform. If you are considering mining at home, you will need to be prepared to brace for a serious power bill. They can be used at home, however, serious investors will choose to have their ASIC miner hosted for them. ASICs are often associated with heavy power usage and are much louder than other alternatives, hence why investors prefer to have them hosted by professionals in data centres. At Mining Store, we can provide you with both the ASIC miner as well as host the miner for you. This ensures you are privy to far cheaper energy costs, maximising your Bitcoin mining profitability, as well as access to our support team 24/7. Additionally, we have our own Bitcoin mining profitability calculator online to guide you through just how profitable Bitcoin mining currently is per ASIC/machine, view it here: https://miningstore.com.au/profitability/

Ultimately an individual’s decision on how to mine Bitcoin and maximising their Bitcoin mining profitability will come down to their preference and how much capital they have to invest. Of course, the better performing the miner is and the more energy efficient it is, it is likely to be more expensive as it is more profitable. 

We suggest to those miners with strong capital and investment capabilities to compound their miners, you can use our own specialised Bitcoin mining profitability compound calculator to see the initial outlay, power cost, total outlay and then estimated profits if you are to compound. See that calculator here: https://miningstore.com.au/compound-calculator/

Considering we are at the bottom, or nearing the bottom of this serious downturn throughout the market, miners are still in profit currently, and once the market turns, will only further be in profit.