April 17, 2021

Is it profitable to mine cryptocurrency in 2021?

Is it profitable to mine cryptocurrency in 2021?

Experts predict an increase in the price of the first cryptocurrency, which means an increase in the popularity of mining and, as a result, deficit for equipment.

The increased demand for mining equipment amid crypto-hype and supply disruptions led to a multiple increase in prices for "hardware." Setting up a mining farm now can be extremely unprofitable.

Profits can only be made by farms thatpurchased equipment at a lower price. Now the shortage of video cards on the market has increased their price many times over, and there is no point in taking risks and buying cards at an inflated price in the hope of a continuation of the bull market.

When choosing between GPU and ASIC, more and more miners prefer video cards. They are more versatile, allow you to switch to the mining of different cryptoassets, and are less energy consuming.

Video cards allow you to participate in mininganyone with a computer. A powerful gaming graphics card can bring in over $ 10 per day. To calculate the profitability of mining various assets, you can use the site whattomine.com and calculate the profit.

ASIC certainly wins in hash rateper watt, but requires a large initial investment, energy consumption and additional cooling. And with the transition of Ethereum to the Proof-of-Stake algorithm, the need for ASICs becomes questionable.

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