Actually I know that there are many people that do cryptocurrencies mining, but I do not know how much the do earn by mining cryptocurrencies because mining of cryptocurrencies is very hard to say.
How much money do Bitcoin miners make?
- Thread starter Ziki
- Start date
The miners are in for a very good business because they are making huge amount of profit in mining. That is basically the reason why there are so many mining farms around.
The amount of money earned by bitcoin miners depends on the efforts made by them and the time spent. Oftentimes resources are usually spent which involve using data to mine and making sure the network connection is stable with constant electricity too.
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Most miners these days earns a lot of Bitcoin that we can't really see and these money differs from each other most times, you can't get same. Whereas traders depends on the miners to get a little of it.
mining of Bitcoin is a very lucrative venture and that is the reason why a lot of miners are relocating from one country to another. When they perceive that a particular country is no longer favorable the move to another country.
Mining might be Lucretive under a certain condition. It requires a huge amount of electricity and at the same time miners are only able to make the maximum profit when the price of bitcoins is at its peak.
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As we know Bitcoin is highest digital currency and can't stay constant so minors are mining the Bitcoin all over the word to get profit. Almost more than $10 they are earning per day.
It depends, because not all mining rugs do the same job, those who are using high quality mining rugs can make much more money than those who use their computers.
If a miner is able to successfully add a block to the blockchain, they will receive 6.25 bitcoinsas a reward. The reward amount is cut in half roughly every four years, or every 210,000 blocks. As of September 2022, Bitcoin traded at around $20,000, making 6.25 bitcoins worth $125,000.
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It all started as a joke, about this mining of the Bitcoin, but I know of people who make allot of money from the Bitcoin through mining, at first when it was not launched.
I really doubt if they're ever able to realise any good amount of money from mining bitcoin.
The whole mining process is just so hectic and not worth the stress at all.
Just ignored it.
The whole mining process is just so hectic and not worth the stress at all.
Just ignored it.
Bitcoin uses the proof of work method of storing information on the block. How much you are going to make us dependent on how much blocks you create and that is determined by your hash rate.
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It takes alot of time for one to gain something tangible out of mining Bitcoin and it can be very frustrating.
I believe that the best way out is to look for capital to invest or trade.
I believe it's not easy and requores a lot of patiece I think they make good money of course depending on many things they make more than traders however it's harder
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