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Mining in 2022: is it worth it to start?

Written by  The Dubrovnik Times Jan 21, 2022

The year 2021 was the most profitable year for mining on video cards and ASICs in the history of cryptocurrencies. With the new year 2022, many people have started thinking about mining, wanting to put together a mining farm. Investing in cryptocurrency is becoming more profitable and understandable than the usual sources of investment. If you don't have time to mine, cryptocurrency at a bargain price for exchange and purchase is available on the aggregator — Alligat0r

Ethereum mining in 2022

At the moment, the Ethereum coin is the main coin for mining. About 80% of all video cards mine ethereum. As of early January 2022, only the TON coin can compare to it in terms of profitability.

The first thing to consider when entering mining in 2022 is the return on equipment. Not just video cards, but everything else, as the components for a mining farm have gone up a lot.

The profitability of mining in 2022 is holding on to Ethereum's high rate. But the payback period for video cards is increasing. This is due to the London hardfork, after which the reward in blocks dropped from 8-20 ether to a stable 2. Added to this is the ever-increasing complexity of mining. At the same time, the cost of electricity is also increasing. Profit decreased by about 2 times compared to January 2021.

Payback on mining farms in 2022

The payback on a mining farm in 2022 has gone up. If you're putting together a mining farm of new cards, consider the payback on each card. Plus, to the video cards, add the cost of the mining equipment. If you want to buy a mining farm off-hand, take the time to test the equipment. 

Divide the cost of the entire farm by the number of cards. Once you have the cost of the video cards, calculate the payback on each card from the farm. The payback period for mining farms in 2022 has doubled.

Despite the decline in profitability, mining in 2022 remains a profitable business. Especially if you have video cards or can get them at a good price. 

Mining for Bitcoin in 2022

Moving on to bitcoin mining Is bitcoin mining profitable in 2022? The first thing to look at is bitcoin prices and the complexity of the network. The complexity of the network is at its highest right now. This affects profitability. The price of bitcoin is also falling, but the rate is fluctuating all the time. As long as it is above $30,000, there is no point in considering this factor.

Is mining profitable in 2022? Is it worth getting into mining?

It is worth calculating all the risks before making such a decision. If the payback period for mining equipment is up to a year, you can consider such an investment. Mining in 2022 is still highly profitable. 

The bitcoin price has to fall by 80% before mining becomes unprofitable. So the big mining farms will continue to mine bitcoin in a bear market. despite the severe drop in profitability and the increased payback period of installed ASIC miners.

This is a profitable business that will be sustained for a long time to come. Large companies will start to take over small mining firms to deploy even larger farms. If you don't want to mine because of the competition, it makes sense to focus on trading. Trading doge to xrp, or other cryptocurrency pairs, can make a lot of money. 

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


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