Is Bitcoin Mining still profitable?

Bitcoin Questions and AnswersCategory: General questionsIs Bitcoin Mining still profitable?
Zlatko asked 3 months ago

Has the bitcoin mining price halved already? Is it 12,50 BC per block now? I am currently thinking to set up a small mining operation at home with a S9 unit but I am not sure which pool holder is the best to join and if it is worth it at all. My energy cost are close to zero so looking at it from that view it seems reasonable. What would you recommend. Thanks and Brgds.

2 Answers
Ofir Beigel Staff answered 3 months ago

Hey Zlatko, yes. The halving already occurred on July 9th 2016. So the block reward is now 12.5 BTC. If you want to see if Bitcoin mining will be profitable for you I suggest reading this article and using the Bitcoin mining calculator on the page.  You may be able to break even earlier with some of the more powerful miners around.

Zlatko answered 3 months ago

Dear Ofir. I was thinking to buy an S9 Miner. Is there a more powerfull device you could recommend. I am located in Venezuela so I think it has good conditions there as power is almost free. The problem might be the Internet speed. Is there any minimum requirement? Is 512Kbps good enough?Thanks and Brgds.

Ofir Beigel Staff replied 3 months ago

Not sure I understand your question, Milli is a Bitcoin faucet and it doesn’t cost anything to use it

Florence replied 3 months ago

I am in South Africa need to know more about 99 Milli,how much is the minimum to to start and as from which percentage?thank you

Ofir Beigel Staff replied 3 months ago

Not sure about the Internet speed but the S9 is currently the most powerful miner you can buy. Here’s what I could find regarding the bandwidth: https://bitcointalk.org/index.php?topic=10860.0

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