If mining is unprofitable, why are people still doing it ...

Expenses besides electricity for running a miner? (Startup Advice)

I'm thinking of buying a bitcoin miner, my electricity is flat rate and paid by the family company so that's not an expense factor, are there any other expenses I need to be aware of?
I'm thinking I'd join a mining pool, but not yet sure which one. is solo mining profitable at all? It seems almost chance based.
edit: also are smaller miners still profitable? I'm looking at the Antminer s7, as buying an s9 would make a serious impact on my hobby budget.
edit2: does the nonfactor of electrical costs open other outdated hardware options for me?
submitted by SyntaxErrorLine3 to BitcoinMining [link] [comments]

6 Antminer S9 Units: Free Electricity

So basically I live in Military Provided Housing while Serving in the Navy. I am planning on buying 6 Antminer S9s and run them out of my housing for free (Since I don't have to pay a dime for electricity). I'm fairly new into Bitcoin Mining, however I've done my fair share of Research. At 14 TH/s per unit, is it realistic to be pulling $25,000 a year in passive income? I would like to take this on as an extra hobby, maybe re-invest the profits and start a server mine, depending of course. I'm really nervous to get into Bitcoin Mining and spending the initial $13,000 or so is a big step/big risk if your not careful. I would like any feedback from experienced miners. Also, what can I expect from joining a Pool? Monthly Fees? I'm sure I won't be able to Solo mine because of how hard it is now days.
submitted by NuclearNinjaXXX to BitcoinMining [link] [comments]

Hey /r/bitcoin, Looking to Start Mining in the future.

Hi, ive read up alot on bitcoin and bitcoin mining and I look to start some recreational solo mining in my twenties. Ive heard small miners work well for nonserious mining, but I want feedback on a good, very cheap way to occasionally earn that 25 bitcoin profit. Again, this will be a hobby, I don't plan on surviving off of bitcoins. I want something cheap. Itd be nice to have insight on how exactly to start mining, too.
Another question, what is a good way to store coins? I like the idea of written private and public keys inaccessible on my computer, but ive heard coinbase is nice. What is the best?
submitted by Grai_M to Bitcoin [link] [comments]

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Is BITCOIN MINING Profitable RIGHT NOW In Mid 2019? - YouTube

Is mining Bitcoin BTC still profitable in 2020? Let's review mining profitability, Bitcoin, Bitcoin Cash, and Bitcoin SV. Block reward halving, network diffi... Is Bitcoin BTC mining worth it july 2019? Is it profitable to buy bitcoin mining hardware and start a bitcoin mining farm setup in 2019? Does Bitmain antmine... #bitcoin #bitcoinmining #bitcoinminingsoftware By Far The BEST Bitcoin Mining Software In 2020 (Profitable). This is a review on the most profitable, easy, a... Which mining rig is the most profitable when you consider the wattage, speed, and cost of electricity? In this video you will see a Bitcoin Mining Profitability Comparison of the Bitmain Antminer ... Is Bitcoin Mining Profitable RIGHT NOW In Early 2020? - Duration: 21:11. DrUnlimited 26,890 views. 21:11. 6 Things To Consider Before Starting Your Crypto Mining Journey - Duration: 20:07. ...

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