Does Mining Still Make Sense Today?

[SilverLance]

With rising electricity costs, network difficulty, and changing coin values, is mining still worth the effort in today's time. Do you consider it as solid returns, or has it become only a little more than a break-even hobby?

 

[eLdavis]

From what i have heard, it doesn't. I have heard about people complaining about not being able to make anything meaningful from it.

 

[Suba]

The main burden of crypto mining is electricity costs, so it is not recommended to mine crypto if your country has high electricity costs, unless you use other power sources that will be profitable even if crypto prices are high.

 

[Starmix]

I have not tried mining crypto. It might only be a waste of time and electricity. It is better to find another source of income.

 

[Nomad]

Mining on your personal computer or phone is no longer profitable these days, if you want to make it profitable, you need special equipment.

 

[mrki444]

It is good only if you have very cheap current or free even better. If you use smartphones, but bigger capacity power bank and charge it at work. In all other cases with regular electricity bill you will not earn much or even lose money.

 

[SilverLance]

Mining does take a lot of power, and with regular electricity costs, your bills can end up higher than your earnings.

 

[mrki444]

Go to Turkmenistan or Kosovo. They give free electric current so you can start mining operation. I think Republika Srpska, part of Bosnia and Herzegovina, also give free current but don't go live there. Only crazy people who want start war live there.

 

[oliver991]

Home mining has been dead for a few years now, especially in Europe where electricity is expensive. The cloud-based model like HashMole seems much more viable. They already have the infrastructure (dedicated ASICs, optimized consumption, 99.9% uptime), and you just buy a plan and take your share of the mining. Of course, it’s still a risky investment, but the ratio is better than doing solo mining.

 

[SilverLance]

Cloud mining setups with dedicated hardware and optimized power usage look pretty appealing, there’s still a fair amount of risk involved.

 

[kit_hung]

With rising electricity costs, network difficulty, and changing coin values, is mining still worth the effort in today's time. Do you consider it as solid returns, or has it become only a little more than a break-even hobby?

For small-scale miners, mining has become a near-breakeven activity—not a loss, but not a profit either. Others see it as a technological hobby or a way to learn about blockchain. Without modern equipment and affordable electricity, profit is a pipe dream.

However, for those with sufficient resources, there is still room for profit. But for many, mining is no longer a quick way to get rich, but a game of patience and calculation. Before you start, think: are you looking for profit or knowledge?

 

[Starmix]

It is better not to engage with mining, it consumes current, and your profit might not be feasible to pay the electric bills.