❇️STEEMIT: BTC NOT AS PROFITABLE ANY MORE? TAKE A LOOK! 👀
So i mine with a few different cloud mining sites. Hashing24, Genesis Mining and Hashflare, Hashflare is where i have the most hashing power with currently 70.17 TH/s
It wasn't that long ago when 70TH/s was earning me 0.01 worth of BTC each and every day and today i earn't 0.00702809 and with the maintenance fee its only 0.0043511! now that's a HUGE difference!
Lets take a look at the mining difficulty shal we?
as you can see, just from the 6th of december we have gone up shitloads! with an everage increase of 14.23% every two weeks.
You can check this data out at btc.com to see for your self!
Now as you can see below, the next mining difficulty is set to take place in two days with an increase of +10.38%
So my mining payouts are about to take another dump! but hey... that's the nature of this game!
So lets use a mining calculator and see how profitable it would be to buy some hash power.
On hashflare if i were to buy 50TH/s it would cost me 11000.00 USD or 1.25400000 BTC
So lets go over to the mining calculator
Hash Rate (GH/s): 50000
Pool Fees: 20% (i've found sometime it's less and sometimes it's more so i tend just to put 20%)
Hardware Costs (USD): $11000 0r 1.25400000 BTC
Bitcoin to Dollar (USD): $8844.30 (at the time of writing this)
So taking a look at the image below you can clearly see that at this point in time with the current price of BTC and the mining difficulty that it is slightly profitable to buy BTC mining contracts.
You would still be profitable and over the space of a year your profit would be 0.50894879.
So it would cost 1.25400000 BTC, your mining earnings would be 1.76294879, giving you 0.50894879 profit but remember this is only a snap shot in time of here and now, and does not take into consideration the mining difficult increase every two weeks or neither the price BTC in the future.
The only reason i cloud mine bitcoin is to accumulate more bitcoin or otherwise whats the point in cloud mining?
My personal opinion is that if you want to buy BTC cloud mining contracts then do it with fiat and not BTC, this is just my two cents.
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I am not a professional financial adviser. Do not listen to me and my nonsense. Do your own research into anything you want to invest in!