Can You Make Money Mining Bitcoin?

There is nothing fixed in bitcoin mining earning. It depends on the time and effort you are willing to put. Your profits will depend on several factors. You can make use of the bitcoin mining calculators to know the mining profitability. The calculators work considering factors like power costs, hardware component costs and its wear & tear to give you an estimate of the profit you can make.
 
When a block is completed, the miner is awarded a certain number of bitcoins as agreed up on by the other miners in the network. In addition, the miner gets a transaction fee that is paid by the users sending the transactions. The fee amount varies and comes as a remuneration for the miner to include the transaction into their block in the future. There are also several instances where the rewards are not covering the costs though this has been mitigated to some extent with improved technology. The bitcoin price continues to fall and many miners are giving up the work.

Nothing is predictable in bitcoin mining since the exchange rate keeps changing and you cannot guess what it will be next year. The profits again depend on your contribution and you cannot guess how many miners are involved in the network you are mining.

Was this answer helpful? #8 #10
 

Did We Miss Out on Something?

Relax, we have you covered. At Go4hosting, we go the extra mile to keep our customers satisfied. We are always looking out for opportunities to offer our customers “extra” with every service. Contact our technical helpdesk and we’d be more than happy to assist you with your Cloud hosting, Colocation Server, VPS hosting, dedicated Server or reseller hosting setup. Get in touch with us and we’d cover all your hosting needs, however bizarre they might be.

Submit your Query

  • I'm not a robot

Browse by ServicesBrowse by Services

Resource Library

What is Cloud Computing

Understand the term cloud computing, the ongoing trend, its playing field, future growth and how industry...

Myths about Cloud Computing

Cloud computing, in the recent years, has become a subject of significant discussion among the industry experts.

Download Now

Did We Miss Out on Something?

Relax, we have you covered. At Go4hosting, we go the extra mile to keep our customers satisfied. We are always looking out for opportunities to offer our customers “extra” with every service. Contact our technical helpdesk and we’d be more than happy to assist you with your Cloud hosting, Colocation Server, VPS hosting, dedicated Server or reseller hosting setup. Get in touch with us and we’d cover all your hosting needs, however bizarre they might be.

Submit Query

Please fill in the form below and we will contact you within 24 hours.