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edit2: does the nonfactor of electrical costs open other outdated hardware options for me?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

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