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This is what it would cost to build a Bitcoin mining platform today

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Poolin.com has put together an updated analysis of the current cost of building a profitable Bitcoin mining platform. This information provides a unique insight into the complexities of the ever-changing mining landscape.

At Article, the mining group points out that there is a wide range of individual variables that determine the profitability of mining. Poolin has created a mining profit estimator that breaks down these factors to better understand which platform is the best value.

Example as shown:

bitcoin mining price estimate

It is important to note that electricity costs vary widely from place to place, and are the most significant factor in mining costs to long term. Therefore, a higher number of high power consumption platforms that also produce a higher hash rate may be more suitable for areas with cheaper electricity, but less where this cost would be higher.

A critical factor for all mining operations is the "equilibrium" factor, which the mining estimator seeks to determine. This is the value of the cryptocurrency that must be produced to pay the cost of the platform. For example, a prominent Bitcoin mining platform costs $ 1,767 to build and operate and generates $ 4.56 in profit per day at current prices. So it would have to run for 387 days to be profitable. This number includes electricity costs.

However, it is also the fact that even after breaking even the platforms will consume electricity. Therefore, they will only remain profitable as long as they produce enough cryptocurrencies to cover this cost. Poolin refers to this as the "closing price". Determining when a platform has crossed this threshold can be very difficult.

It is still possible to make a profit with Bitcoin mining, but it is complex

Much has been done of large pools that take over the mining space, especially regarding Bitcoin. Of particular interest is the fact that the most advanced mining rigs are often available for these business operations months before they can be purchased by independent consumers. For example, critics have long accused Bitmain of using its most advanced equipment exclusively for its own mining farms and selling only the oldest rigs on the open market.

Therefore, successful Bitcoin and crypto mining requires a very attentive eye for detail. Efficiency must be a priority, as each variable will play a role in the end result. This includes equipment costs, electricity costs, and the choice of mining platform. However, with proper planning and access to the best information, profitability can be achieved.



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