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how to reduce mining costs for better profit?

Patrik

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Apr 19, 2020
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as we all know, mining using GPU's really cost a lot, not only because gpu's cost a lot these days due to stock issues, but also because gpu's consume lot and a lot of power, what do you think a miner can do to reduce the mining cost to make more profit when selling the coins he mined ? any tips you could suggest?
 
If you have set up your own mining rig, you can reduce your mining cost by using renewable energy. For instance, you can install solar panels and use solar energy to power your mining equipment. Moving to colder places can also save money on energy consumption as you will be spending less mout to cool your equipment.
 
For me its bit harder to think about bitcoin mining, of course you can reduce the cost that you spend on building the mining devices, but you have to know that reducing mining equipment's means that you are also reducing the coins that you are mining.
 

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