Bitcoin mining has become super profitable for investors again

Bitcoin mining yields have risen to the levels they were at before the May halving, andexceeded them, according to data from the company Glassnode.

At the beginning of May 2020, bitcoin was trading around $9000, now the largest cryptocurrency is holding around $18,000 - this is the highest value since January 2018.

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The researchers emphasize that miners now have opportunities to make a profit after selling some of the mined BTC.

On November 18, mining pools received $21.2 million in revenue per day, which is the largest figure in the last year.The previous peak was observed on May 6 (that is, before the May halving), then the income of miners reached $20.6 million.

After reducing the reward for mining a block from 12.5 BTC to 6.25 BTC, the daily income of the pools dropped to $ 7 million.

Computing activity on the Bitcoin network has begun to rise after falling in the first days of November. Currently, BTC hashrate is 127 exahash per second (EH/s).

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Against the background of the strengthening of the bitcoin rate, miners are returning to work and trying to get as many coins as possible.

Russians are massively buying mining equipment

Against the background of the growth of the cryptocurrency market, many Russians again began to buy mining equipment. This was reported by «Vesti» with reference to data from the portal «Avito».

Analysts of this resource recorded a sharpa surge in the activity of visitors wishing to purchase equipment for crypto mining. The number of searches for the purchase of miners has grown by about 45% since the end of October.

In parallel, there is a decrease in the number of ads for the sale of devices for mining bitcoins. The interest in mining in our country began to grow again, experts emphasized.

During the period of falling cryptocurrency prices in the pastyear, Russians, on the contrary, massively sold miners. Now the opposite trend is observed. If you visit the website «Avito» and enter «mining farm» in the search bar, you can see that the number of advertisements for the sale of such equipment has sharply decreased. At the same time, the cost of farms and components for them has increased significantly compared, for example, with 2018-2019.

Cloud mining — the best Bitcoin mining option for 2020

Cloud mining is a model of earningcryptocurrency, which creates groups (mining pools), with one goal: to generate more income, in comparison with conventional distributed mining, due to the management of equipment by a contractor who solves all issues related to technical and software components.

In this case, the user pays for the workleased equipment for a certain period of time. The cloud mining provider for the payment received must ensure the round-the-clock operation of its equipment with the specified capacity, ensuring that the earned cryptocurrency is credited to the wallet of the tenant who paid for the cloud mining services.

Cloud mining setup does not requirea productive computer or knowledge in the field of blockchain and cryptocurrencies in general. Setting up in this case consists in going through the standard registration procedure on the pool, depositing money (usually ordinary money or bitcoins) and choosing a tariff plan. Then the user specifies the address (personal wallet) where the mined cryptocurrency will be withdrawn.

Rating of the TOP 5 best cloud mining sites, with current estimates for 2020

Service	Rating	Detailed overview
IQ Mining (Editor's Choice!)	9.5	Read the review
ECOS	7.2	Read the review
YoBit VMining	7.0	Read the review
BitDeer	6.4	Read the review
HashFlare	6.3	Read the review

The criteria by which the score is given in our rating:

Profitability and profitability– we calculate the payback period, clarify the reality of mining.
Prices and commissions– we take into account the validity of tariff plans and compare them with competitors.
Deposit / withdrawal, discounts, reliability– we analyze reviews, test the correctness of accruals and withdrawals.
Convenience of the platform and site– we evaluate the functionality, errors and failures when working with the service.
Features of the company– unique services and useful services, period of work on the market.
final grade– the average number of points for all indicators determines the place in the ranking.