Is Bitcoin mining worth it? – CoinCentral

Now bitcoin is where it gets interesting for investors. There are approximately publicly-listed companies in the world whose principal business is to mine for gold.

There are 46 public-listed silver mining companies in the world. The market cap of all publicly-listed companies that mine either Bitcoin or Ether or both is exactly zero.

Snapshot taken from Blockchain. One conclusion we can draw or least infer is that economies of scale are starting to matter with Metals mining. And that means a need for capital. In the past, there has been two factors stopping investment into cryptocurrency mining through public companies.

One, the market was too mining. One could mine Ethereum profitably with your desktop mining and you still buy mining rigs off Ebay to mine Bitcoin at home.

How Does Bitcoin Mining Work?

Two, mining cryptocurrency was so lucrative that finding capital to scale up was not a problem. The main problem was securing a supply of mining rigs to keep up with the ever-growing complexity of mining Bitcoin. But a lot has changed in one year. It mining now impossible to profitably mine Bitcoin at homeunless your idea of home is a massive server farm with access to electricity at below 5 cents a kilowatt.

There are many people who mine Metals at home for fun bitcoin profit presumably but a quick look at the Ethereum mining pool shows even more computing power concentration than Bitcoin.