Mining Cryptocurrency Hardware in 2022, still worth it ?

Mining Cryptocurrency Hardware in 2022, still worth it ?

If you interested in mining, but you are worried that it is no longer profitable, or is it worth buying a mining rig now and starting mining? If this is what you are looking for, then you found the right article and website.

In this article, we are going to talk about mining in 2022. We are going to check the potential earnings of an average rig and examine if it is worth starting mining in 2022.

Is mining cryptocurrencies currently profitable?
Yes, mining is profitable in early 2022. Of course, the profit margin depends on the electricity price you are paying. The lower the electricity price, the better the profits.

marketing profit calc

Above you can see current approximate profitability for 6x AMD RX 6800XT with electricity price of $0.15.

If you already own mining hardware, then there should be no reason not to start mining.

If you are worried about damaging your hardware you should read this article where we explain why GPU mining is very safe, in some cases even safer than gaming. We also suggest watching this video from Linus Tech Tips, where Linus explains that mining does not damage GPUs.

What was the mining profitability in 2018 and 2020 like?

The profits did drop by around 40% since the peak of the mining profitability in April/May of 2021. But the profits in 2021 were abnormally high, the return on investment was just about two or three months. You would cover the GPU costs in just a couple of months.

This was my first miner purchase, and I'm sure like you, I tried to do as much research as I could to find a legitimate online seller I was going send my money to. I found HashDeploy and couldn't be
Great! Delivered as promised
Карты пришли быстро, упакованы очень хорошо. По внешнему виду карты трудились долго и очень усердно, видны потёртости, сколы. Работоспособность пока не проверял

Even if the profits dropped by 40%, the earnings are still higher than what the miners from 2018 and 2020 experienced. Back in 2018, GPUs would barely break even. Sometimes, the GPU would not be able to create any profits.

In late 2020, the profits did increase and mining was profitable. But not as much as we are used to now.

What would mining with 6x 6800XT make?

We used NiceHash’s past profitability data and made some calculations on what would a miner with 6x 6800 XT or 360 MH/s earn in the past years.

Mining in 2022
A miner would earn 0.0004 BTC per day in the first 47 days of 2022. Based on the current price ($40,000) that is around $16 per day.

As we can see from the examples above, 2021 was the most profitable in terms of fiat currency. On average a miner earned approximately $30 per day while the second most profitable year for fiat earnings up to now is 2022 with $16 per day.

But looking at Bitcoin earnings, we can see that 2020 was the year that the miner would earn the most Bitcoin per day, an astonishing 0.0008 BTC. Yet the fiat earnings were low because the price of Bitcoin was low.

Disclaimer: This is not investing advice. Always do your own research before investing. Profitability is constantly changing. We do not take any responsibility if the mining profits are not as shown in the above examples.

Article Source : Nicehash

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