yeoboseyo guys,
So many Bitcoin mining business have closed up shop back in 2018, but this begs the questions, is Bitcoin mining a business or a hobby? Is Bitcoin mining scalable and profitable business that entrepreneurs can leverage in the year of accumulation, or just a hobby that is followed by tech savvy people?
Bitcoin Mining Available Equipment:
So currently there are 2 SHA-256 mining equipment (ignore ASICminer because reports of it being a scam) the Ebang Ebit E11++ and Innosilicon's T3 43T both pumping around 44 TH/S give or take.
Ebang Ebit E11++ Profitability:
It consumes 1980 W+- 10% and gives 44 TH/S +-5% which is not that good since the electricity intake has 10% change! That is worrying since it might not function properly. It costs 2024USD from the official manufacturer website and here are my calculations on its profitability.
Innosilicon T3 43T Profitability:
It consumes 2100W+-10% and gives 43TH/S+-5% which is even worse when it comes to electricity its just not that stable add to that 2100W compared with 1980W from Ebit E11++. It costs 2279 USD from there website. And here are my calculations on its profitability.
Factors Taken To Account:
0.12 KW/H USD Average Of USA
1% Pool Fees
Price Fixed At 3700 USD Per Bitcoin
Shipping Fees Not Included And +VAT Applications
Hardware Cost (Duh)
Conclusion:
I believe Bitcoin mining is more of a business still than a hobby, it always been, if a profitability of 1.51 USD$ per day is not good right now then what is? I mean give the fact we are in a bear market and pulling such hashrates and profitability still is mind blowing. It just not your average thing since many people in other countries were electricity rate is cheaper can pull more profits and if you have connections to reduce the cost of your operation then you're good to go.