Is Bitcoin Mining Profitable in August 2019?

Mining Profitability

Mining cryptocurrency seems like a no-brainer. Set up a computer to help solve complex math puzzles and you are rewarded with a coin or a fraction of a coin. The first bitcoin miners were able to earn coins relatively quickly just using what computing power they had in their homes.

By 2019, cryptocurrency mining has become a little more complicated and involved. With bitcoin, the reward is halved every four years. On top of that, serious miners have built huge arrays to mine, making it harder for smaller miners to compete. You can join a bitcoin mining pool to be more effective, but that comes with a fee, reducing your profits.[1]

Is Bitcoin mining really profitable in August 2019?

Is Bitcoin mining profitable?

This is the chart of Bitcoin mining profitability from bitinfocharts.com

As you can see there was a decrease in last weeks because of price drop but that doesn’t mean Bitcoin mining is not profitable anymore.

Take a look at this:

Bitcoin mining calculator

Calculations from btc.com

In this simulation you buy 10 Antminer s17 pro(50TH). Assume 2% for difficulty increase which is logical(Although it’s unpredictable). if the price stays same you will not only take your investment back but also make 13% profit in one year. Please notice that things don’t always go perfect. Good luck!

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