When it comes to mining Ethereum, the biggest question on people’s minds is whether or not it’s still profitable. The answer, unfortunately, isn’t as straightforward as many would like it to be.
There are a number of factors that go into whether or not mining Ethereum is still a good idea, including the price of ETH, the cost of electricity, and the amount of ETH that can be mined per day.
The Price of ETH
The price of ETH has been on a roller coaster ride over the past year. It reached an all-time high in January 2018, only to crash down to around $100 by December 2018.
As of June 2019, the price has rebounded and is now hovering around $300.
The cost of electricity
The cost of electricity is one of the biggest factors in whether or not mining Ethereum is still profitable. In some parts of the world, electricity costs are very low.
NOTE: WARNING: Mining Ethereum is an extremely risky activity and can result in loss of capital. It is highly important to research and understand the blockchain technology and cryptocurrency market before attempting to mine Ethereum. Additionally, you must be aware of the risks associated with mining Ethereum, including but not limited to: high electricity costs, changes in the value of Ethereum, and the cost of hardware required for mining. It is also important to consider the amount of time needed for mining Ethereum as it can take weeks or months to break even or potentially make a profit.
For example, in China, where a large portion of Ethereum’s hashing power comes from, electricity costs around $0.03 per kWh.
In other parts of the world, however, electricity costs can be much higher. For example, in the United States, electricity costs around $0.
12 per kWh. This means that if you’re mining Ethereum in the US, you’re paying four times as much for electricity as someone who is mining in China.
The amount of ETH that can be mined per day
Another important factor in whether or not mining Ethereum is still profitable is the amount of ETH that can be mined per day. This number has been slowly going down over time as more and more ETH has been mined and added to the total supply.
As of June 2019, the amount of ETH that can be mined per day is around 18,000 ETH. This number will continue to go down over time as more ETH is mined and added to the total supply.
Conclusion: Is it still profitable to mine Ethereum?
It depends on a number of factors including the price of ETH, the cost of electricity, and the amount of ETH that can be mined per day. In general, however, it seems that mining Ethereum is still a profitable endeavor for those who have access to cheap electricity and are willing to hold onto their ETH for the long term.
10 Related Question Answers Found
Ethereum mining is still profitable, but it is not as profitable as it used to be. The main reason for this is that the price of Ethereum has fallen significantly from its all-time high. When Ethereum was first released, it was worth around $1 per coin.
As the second largest cryptocurrency by market capitalization, Ethereum has garnered a lot of attention from investors and crypto enthusiasts alike. But is Ethereum mining profitable? This article will attempt to answer that question.
Ethereum mining is the process of using a computer to process transactions on the Ethereum blockchain. This process requires a lot of computing power, and thus a lot of electricity. Ethereum miners are rewarded with ETH for their efforts, but is it worth it?
Ethereum mining is a process of using computer processors to verify and record transactions on the Ethereum blockchain. Ethereum miners are rewarded with ETH for each block they mine. Is an Ethereum mining rig profitable?
Ethereum mining is a process of using computer hardware to perform complex calculations in order to verify and secure the Ethereum blockchain. In return for performing these calculations, miners are rewarded with newly minted ETH tokens. However, Ethereum mining is not as simple as it sounds.
As more and more people become interested in cryptocurrencies, they are inevitably wondering if mining Ethereum is profitable. The answer, like with most things in life, is that it depends. There are a few factors to consider when trying to determine if mining Ethereum is right for you.
As the second largest cryptocurrency by market capitalization, Ethereum Classic (ETC) is a popular choice for miners. Is Ethereum Classic mining profitable? Here’s what you need to know.
Staking Ethereum is profitable because it allows users to earn interest on their ETH holdings. By staking ETH, users can earn additional income without having to sell their ETH. This is a great way to generate passive income and grow one’s ETH holdings over time.
If you’re thinking about mining Ethereum, you need to calculate the profitability of your rig. With our Ethereum mining calculator, you can do just that. Ethereum is one of the most popular cryptocurrencies, and it’s also one of the most profitable to mine.
Arbitrage is the simultaneous buying and selling of an asset in order to profit from a price difference between two or more markets. Ethereum arbitrage refers to taking advantage of these price differences to buy ETH cheaply in one market and immediately sell it for a higher price in another market. For example, let’s say you find that ETH is being sold for $200 on one exchange but is being bought for $250 on another exchange.
