Despite all the doubts it has generated, Bitcoin continues to be the best option when it comes to mining digital currencies. It is important to note that many people, especially experts in the field, believe that not everything is easy when it comes to investing in equipment to be able to do mining at home, since you require PC with high power which in turn generates high electric power consumption so that it can work correctly.
How you can calculate the electricity consumption
Whether you invest in specialized mining equipment such as the Bitmain Antminer S9 that has a cost of more than $ 2000 and an energy consumption of 1350W or if what you want is to add different components to your PC in order to be able to improve it.
For example, if you have mining equipment that uses 1350W, a respectable measure to mine Bitcoin relatively fast. For this case the formula is applied: 1350W / 1000 x 24 = 33 Kw / h and the result is what you will consume. Having this value determined, you can get the monthly consumption. The daily consumption multiplies by the thirty days of the month, like this: 33 Kw / h x 30 = 990 Kw / h.
Take care about equipment
Whether you buy it or build your mining equipment, you are making an investment, so you have to be especially careful with this equipment, they are already in constant use and the variations in electrical energy can cause damages that delay or paralyze completely the mining of Bitcoin, so keep the equipment under strict care and vigilance.
With all these elements surrounding what implies Bitcoin mining, the trend shows that it is definitely profitable to engage in this activity, even from home. Although in European countries the profits are not as great as in Latin America because of the difference in terms of electricity consumption costs, the benefits are still profitable.
The mining of Bitcoin continues to be the best option to obtain this cryptocurrency that every day is positioned better within the commercial area worldwide, so investing and working on it is a smart decision. Especially when there are so many stories of people who have become millionaires thanks to Bitcoin.
If you want to use this method to increase your earnings, you need to take into account the advises that we make at the beginning. The costs and the energy are the most important points to take into account in order to start mining.
After Halving 2020
Recent research analysis by 8btc columnist Vincent He and the cryptocurrency mining operation F2pool, indicates that roughly 45 older mining devices have been shut down overnight since the reward halving. Statistics from the web portal Asicminervalue.com, also indicate that the estimate of 45 miners is based on the electrical price of 0.35 Chinese yuan per kilowatt-hour (kWh) or $0.049 USD.