What is mining profitability based on?

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arkansasguy
Posts: 11
Joined: Fri Oct 01, 2021 9:42 am

What is mining profitability based on?

Post by arkansasguy » Sun Jan 09, 2022 8:18 pm

I use Scrypt miners, and I notice the mining profitability fluctuates quite a bit. What is the price based on? For example we are at .008 now, what makes this value go up and down? The price of BTC? And how does it correlate to it? I'm guessing more factors go into play, such as network difficulty and such?

I'd just like to see my scrypt miners make more of course, and just curious what must happen for the profitability to increase?

Thanks!
Sumoblei
Posts: 65
Joined: Sat May 29, 2021 8:34 am

Re: What is mining profitability based on?

Post by Sumoblei » Wed Jan 19, 2022 9:26 pm

Man that is one loaded question lol What little I think I understand is a multitude of factors... hashrate, price, volume, luck, on the network and your local pool, and I'd even go as far as latency, slippage and gas ..... AI has its work cut out for itI'm sure :)
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bdm8181
Posts: 13
Joined: Wed Nov 24, 2021 1:33 am

Re: What is mining profitability based on?

Post by bdm8181 » Wed Apr 27, 2022 7:06 pm

km
joshwa1991 wrote: Wed Apr 27, 2022 7:33 am The profitability of mining depends on the price of bitcoin, the price of electricity, and the hardware being used to mine. Household electricity costs are normally far too high to allow profitable mining.
im sorry but i have to ask what company? where abouts are your guys basis' on your electricity off of? where im from you pay a different rate, ive had 3 rigs running at 52 w each for the last year, ive maybe noticed a 15-20$ difference in electrical bill?
mind you i also have 12-12v batteries wired in parallel which is 144 a/h- that helps power my rig as well, i use impeller side of a turbo charger that has that spins a alternator via a water storage set up i made (like a hydro electric dam) get roughly 6.495 head pressure which allows the alternator to produce a charging voltage of 13.8 at 120 amps, pretty much free to run the rigs now, i have a couple other things running off it as well
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