The Enchanted Tavern
  • Communities
  • Create Post
  • heart
    Support Lemmy
  • search
    Search
  • Login
  • Sign Up
@Hirom@beehaw.org to Technology@beehaw.org • 18 days ago

Bitcoin mining is no longer profitable

www.pcworld.com

external-link
message-square
130
fedilink
186
external-link

Bitcoin mining is no longer profitable

www.pcworld.com

@Hirom@beehaw.org to Technology@beehaw.org • 18 days ago
message-square
130
fedilink
Reports indicate that mining a single Bitcoin now costs far more in electricity than it's worth, even at sky-high prices.
alert-triangle
You must log in or register to comment.
  • @kittenroar@beehaw.org
    link
    fedilink
    English
    25•
    edit-2
    17 days ago

    bitcoin mining hasn’t been profitable for a long time. Like, a decade or so.

    • @Boomkop3@reddthat.com
      link
      fedilink
      6•16 days ago

      …but you could buy specialized hardware for it

      • @kittenroar@beehaw.org
        link
        fedilink
        English
        4•16 days ago

        True, but the outlay of cost for the hardware was higher than the value of Bitcoin you would receive.

        • @MDCCCLV@lemmy.ca
          link
          fedilink
          English
          1•15 days ago

          In theory if you didn’t have heating you could get a cheap used machine and run it and the revenue might cover the cost of heating and you get a free to run space heater.

        • @Boomkop3@reddthat.com
          link
          fedilink
          3•16 days ago

          The power bill is more of a concern. Eventually it’ll pay itself back

          • @DragonTypeWyvern@midwest.social
            link
            fedilink
            1•16 days ago

            Go for that moonshot bro, your creditors will be happy to wait I’m sure.

            • @Boomkop3@reddthat.com
              link
              fedilink
              2•16 days ago

              Just clarifying the idea. I don’t support crime by holding up such networks

          • @vrighter@discuss.tchncs.de
            link
            fedilink
            1•16 days ago

            it has to pay for itself faster than it becomes unprofitale. Which is never, now

            • @Boomkop3@reddthat.com
              link
              fedilink
              1•16 days ago

              I know, not the point

Technology@beehaw.org

!technology@beehaw.org
Create a post
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !technology@beehaw.org

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:

  • Free and Open Source Software
  • Programming
  • Operating Systems

This community’s icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

  • 17 users / day
  • 207 users / week
  • 643 users / month
  • 2.25K users / 6 months
  • 1 subscriber
  • 2.88K Posts
  • 46.2K Comments
  • Modlog
  • mods:
  • alyaza [they/she]
  • TheRtRevKaiser
  • @gyrfalcon@beehaw.org
  • rs5th
  • @coldredlight@beehaw.org
  • Leigh
  • TheRtRevKaiser
  • Chris Remington
  • UI: unknown version
  • BE: 0.18.2
  • Modlog
  • Instances
  • Docs
  • Code
  • join-lemmy.org