Bitcoin Price Gains: Did Bitcoin Mining Just Become Profitable Again?

As Bitcoin enjoys a record week of price rises, we look at the profitability of mining Bitcoin now the prices has surpassed $7,000. On the 15th December 2018, Bitcoin recorded its most recent low price of around $3,200. For the miners, despite a drop of mining hashrate to 35 million TH/s, this meant that only those with access to free or subsidised electricity were making any money at all. Fast forward to May 2019, and although Bitcoin’s hashrate has risen to 46 million TH/s – an increase of a third – the price of Bitcoin has more than doubled. Does this mean that Bitcoin is worth mining yet?

Bitcoin mining is still ASIC-only

Unless you have an ASIC, forget it – it’s a long time since it was worth mining Bitcoin with a GPU. If you’re after a GPU miner, you’re better off looking at Ethereum or another altcoin – read our Ethereum mining guide if you’re interested. Read More...

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