Is mining still profitable in 2020?

15-08-2020, 01:13 PM

hannahshelby19 Wrote: I'm thinking in buying a desktop computer for mining. I know that there are mining rigs in the market, but my question is: Is it a good option to mine with a desktop computer? Is anyone doing it? Regards

I recommend that you do not buy a desktop computer to mine any cryptocurrency, unless you can get electricity for free. The cost of electricity is the limiting factor. Up until about 1 1/2 years ago, it became almost universally unprofitable, because the difficulty ratings of mining cryptocurrencies have greatly increased. Also, one must consider the prices of the CPU-minable coins themselves-- they're generally not worth the cost of the electricity. ASICS are the generally the only way to make some profit, but only if you can purchase electricity at a very cheap rate-- like perhaps $.03/KWh.

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26-08-2020, 10:29 AM

Lonax Wrote: only if you don't pay for electricity imo. if you have an office or something then leave it running on that computer why not

Last year, I read about some employees that got fired for running mining equipment at work-- using the company's electricity, of course. That was an expensive lesson in how not to mine cryptocurrency!