Money Talk

Is mining still profitable in 2020?

Submitted by hannahshelby19, , Thread ID: 178682

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RE: Is mining still profitable in 2020?

NoodleCat
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25-08-2020, 06:44 PM
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Short answer: No.

Long answer:

It is not, unless you get incredibly lucky and meet a ton of other factors. Basically, unless you don't have to pay for electricity, have a large amount of money for upfront costs of building a mining rig, and get lucky finding an alternate coin that hasn't increased in difficulty/value yet, it really isn't profitable at all. Mining has become more of a long-haul profit maker for those that have a lot of money already at their disposal. I would not recommend mining to make money unless you are planning on turning around and trading the coins to play with investments.

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