[AnGrY Bo]

Hi all

So l have access to free electricity, before making any rushed decisions.. is mining still profitable

If yes, Where do l even start?

Thanks all.

[MadScientist]

Depends on your hardware really, whats the specs of your mining hardware.

[@CODlNG_MEMZ]

@AnGrYbO

[Hackers]

Yes it can be, but the barrier to entry is high.
I wouldn't consider mining unless I had $10-20K+++ to spend, and if you are asking if it's profitable, you aren't prepared for it.

There are a lot of factors to consider for whether it's profitable... And also whether you mean profitable today, or profitable in the future with bullish predictions... and balancing that with losses in a bear market or crypto winter.

I'm assuming you haven't calculated any of this, and there's a good chance it might not be profitable for you, or anyone else who enters this industry without the experience needed to manage risk, long-term profits, etc.

[SUI-3183372]

Electricity costs are the single factor that would make mining not profitable, so if you have access to free power, the quick and easy answer is yes, mining will be profitable for you. At this point, assuming you can run 24/7 for free, it just depends what hardware you invest into (cost / efficiency / algo targeted) that will determine how far out your breakeven point is.

(There are some older miners / obsolete hardware that will never be profitable again, but as long as you're choosing something modern and your power costs are free, it will eventually be profitable)

[kinnu543]

If electricity is free it is profitable but roi is less better to avoid.

[Jamika]

I think yes ofc , but you will need to choose wisely what to mine

[Always Sad]

I've had free electricity for a year but had no idea where to start... - Anyway moving back to the city in a few days but would like to know as well.

Thank you

[hkub]

The short answer is yes - the long answer is also yes but how profitable that will be is dependent on what you choose to mine.

[Omniscient]

The money you spend even on hardware will likely be better spent just buying BTC and holding it for 5+ years. That's even with free electricity.

[Hackers]

The money you spend even on hardware will likely be better spent just buying BTC and holding it for 5+ years. That's even with free electricity.

do you think there's a minimum hashrate where it is more profitable to mine? I'm sure there must be a break-even point and beyond, but likely in the millions of dollars to operate?

[Omniscient]

do you think there's a minimum hashrate where it is more profitable to mine? I'm sure there must be a break-even point and beyond, but likely in the millions of dollars to operate?

I think most small home DIY operators aren't making any real profit that matters. It's more about hobbyism, lottery winning a block, or just supporting a network.

I see the prices of mining rigs. To get serious, my guess is $500k+.

[thrudda]

If your electricity is truly free or extremely cheap($0.03/KWH) in theory you will start making profit in about ~1 year time.

There are a lot of factors affecting the profitability such as the coin price, setting up (installing exhaust/intake fans, getting 1P/3P electricity...), price of your miner (they tend to rise & fall together with the market which will affect your ROI) and the premature failure of the miner (which I've faced) likely due to the high humidity in my area.

With free electricity, I guess the only factor you will need to worry about is the possible premature failure of the miner.

[Jack the stripper]

It depends a lot on your electricity cost, if its low or free, yes, you need to invest some money in some good miners, but you will break even and start to have profit, if not and you want just mine for the fun and for the lottery, you can buy a cheap lottery miner that as lower power needs and hope for that block that give you a good reward...but this for BTC, and the odds are low, that's why is called lottery.