You can still mine Bitcoin at a profit. (The Secret?)

지난달

Mining BTC at costs below market price is essentialy access to BTC at a discount.

Over the past 2 years, a large number of novel blockchains and consensus mechanisms have been developed. However, one blockchain has not only thwarted all security problems, but has also retained its status as king: Bitcoin blockchain.

The mining-enabled Proof of Work consensus makes Bitcoin—blockchain—what it is. Recently, a number of mining farms have gone out of business in countries that have mid-to-high electricity costs. This has led to lower mining difficulty and those companies that have the funds to remain solvent through this bear market now have an easier time mining Bitcoin.


Difficulty & Hash Rate are Dropping Rapidly

Cryptonoras, a mining company paying electricity fees low enough to remain profitable at incredibly low BTC prices, is taking advantage of the current market to make the most widely accessible mining farm in the world. The company, based out of Norway, aims to provide an experience that is user-centric enough to appeal to the masses, thereby making a mining stake truly spread among the population. To achieve this, Cryptonoras has had its assets insured by AIG Europe and has developed a user dashboard that is easily navigable.

Given the low access fees, Cryptonoras not only provides those who are bullish on Bitcoin’s success to be a part of the change, but it also gives those who are shorting it an opportunity to uniquely hedge their risk.

Just a Few Moments

Cryptonoras already has all the mining equipment settled. Thus, there’s a stark difference between this mining operation and those still in an ICO stage. The primary differences core around the calculation of returns and opportunity costs.

Mining operations based off ICOs propose a plan, raise funds, and then go about the development. This makes the true operational profitability difficult to predict. Additionally, there’s a risk of the mining operation not being able to raise enough funds to benefit from economies of scale. Since establishing the farm can take months and no money is being generated in that time, the opportunity cost of the money dedicated to an ICO of a mining facility is high.

Cryptonoroas, on the other hand, is an existing mining farm and the profitability rates of the plant are already calculated.

First and foremost, this ensures that money being put towards this mining farm is instantly used to get a stake in an operation that is already driving a cash flow. This ensures that customers do not lose out on any opportunity profit their money would earn each day; money is put to work from the get-go.

Getting started takes moments as there’s a simple sign-up process and plans can be bought using near-instant Crypto transfers. Once a plan is established, the customer has a direct stake in the mining farm’s operational cash flow.

As more people join Cryptonoras, the mining farm will be able to expand, thereby improving its economies of scale. In any business, each cent that can be spread across a greater number of operating assets helps improve aggregate earning.

Insurance of Assets

The income of a mining facility is entirely driven by the cryptocurrencies it mines. While Cryptonoras allows users to withdraw their income every day, most users tend to withdraw funds on intervals.

In order to ensure that users have peace of mind, the assets will be insured by AIG Europe, a well-renowned insurance company. This is a major difference between Cryptonoras and a typical mining farm. Peace of mind aside, this mining farm’s location gives it access to an incredibly cheap electricity supply—arguable the cheapest in the developed world.

In a sense, electricity equates to Bitcoin.


Cheap electricity means access to Bitcoin at a discount compared to exchange prices. Given that the mining facility is already established, Cryptonoras, and those who take a stake in the farm, have to mainly account for electricity bills. Norway has some of the lowest electricity bills in the world; this, coupled with the fact that Cryptonoras is using the latest mining equipment, means this mining farm is able to profit while most of the world’s mining farms are taking losses.

Norwegians foot an electricity cost that is just above 5 cents per kWh; this figure is considerably lower than the 8 cents per kWh faced by the Chinese Bitcoin farms, which presently dominate the market. Thus, Cryptonoras is strategically positioned to profit during the Crypto winter while its competitors, across the globe, shut down. In fact, as other farms continue to shut down, the mining difficulty is on the down-run and this equates to increased profits for Cryptonoras.


Cryptonoras profits while others lose.

A Unique Hedge

Hedging is the means of cutting investment risks. While the vast portion of the Crypto community is bullish on Bitcoin, a few are shorting it.

Participating in a mining farm is something even shorts should look into as it’s a unique way to hedge outstanding short positions. The cause of this is that it’s a one-time expense which can allow the losses of short positions to be mitigated if the market makes a sharp rebound. The coins earned from the mining farm will provide the assets needed to cover short positions.

Those who are bullish on Bitcoin can consider a participation in a low-cost mining farm as a means to buy Bitcoin at a discount. The farm will provide coins on a daily basis, but due to cheap electricity cost, the acquisition expense of the coins will be lower than market prices.

The Plans

Cryptonoras aims to make access to a stake in mining operations as accessible as possible; this allows the farm’s control and cash flow to be distributed among the masses. Thus, its plans start from prices as low as 0.01 BTC/BCH. The plans extend into high entry-points to allow users to also have a stake in the mining operations of DASH and LTC.

Given that the farm’s operating costs, primarily associated to its electricity bill, are well below the operating costs of most farms across the world, Cryptonoras is able to churn out cryptocurrency at a positive cash flow.

Given the market conditions, most might take a conservative approach to profit calculations. Even then, the low-end of the annual profit calculation still allows users to acquire coins at a great discount compared to market prices. Rather than buying coins on an exchange, get even more coins for the same amount of money through a stake in Cryptonoras.


Connect with me:
Telegram @HatuSSS and

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
Sort Order:  trending

Nicely presentation of the informations. I am hopeful about the future of mining as new technologies entering will make it cheaper.

·

The force is with you! You got a 33.33% upvote from @steemyoda courtesy of @petervi!

Dear @hatu, i am very interested about mining company because in the past we had bad experience with Eobot and Hashflare.
So you write that antminer s9 profit is -1.25, that means is no longer useful, so how they can solve on it? I think all professional mining company are using it, not of course PC cards....

·

It runs fine using photovoltaics. It is still more profit than selling the electricity you do not need yourself to the grid.

·
·

This is a good idea, do you know some sample of application?

·

The losses are calculated at kWh of $0.1; Cryptonoras is on Norway and the bill is $0.05 kWh.
Most of the world is $0.1 or higher and thus I used the figure to illustrate the loss.

Am nursing this idea of a mining farm that run electricity generated from animal waste, am a farmer and I've seen biogas been used, if a crypto mining farm needs electricity and it's gotten from the nearby Agric farm, I think the problem is solve.

#sustainability.

·

I already explained this to you, twice.
Depending on where you live, it could be more profitable to sell the energy rather than mining.

Cryptonoras is one of the few mining farms that are in a country where the energy costs are so low that energy can be converted (mining) into BTC for a profit. Cryptonoras buys energy cheap and mines BTC that is worth more than the energy cost.

·

Please @botefarm you can write a proposal on that. The business angels are ready to support that idea. it is going to solve a lot of problems that arise from power costs.

·
·

good

Posted using Partiko iOS

Thanks for that info.
I used to mine with two R9-290X Cards.
That was profitable because I had not to pay ANY current due to a flatrate here at my office.

But to be honest right now it´s not interesting.
5ct/day is not worth it...

I stick to Proof-of-Stake with some coins.

·

That's a pretty good story. But the days of independent miners are long gone.

Mining is an enterprise activity now.
The only chance everyday people have is with pools because it takes a full-day effort to remain competitive.

I enjoyed your post very much! It was very interesting because it clarified me the close relation between low electricity fees and mining farms among other things. The facts you mentioned are very useful for novel investors. Thanks a lot for posting it!

Hi @hatu

but has also retained its status as king: Bitcoin blockchain.

Indeed he retained as a king. And what a bloodbath it has been :) King right in the middle of cemetary :)

Recently, a number of mining farms have gone out of business in countries that have mid-to-high electricity costs.

I was just wondering, if this fact really affected entire network? Transfering BTC seem to be faster and cheaper than december 2017. So overall even with current prices it seem that blockchain infrastructure is already better than it has been 1 year earlier?

Yours
Piotr

a couple of my friends have given up on their mining equipment. i will pass on this article should they want to reconsider. they had invested so much, were able to profit for some time but there's still losses now. hope this is a better alternative.

·

People must recognize that electricity equates to BTC. Mining is only worth enacting if one lives in a country with very low fees.

$0.05 kWh is almost as low as it gets.

·
·

I agree with this think.

If you have the newest hardware, usually you will maintain to be profitable, wish i could afford one of those new BTC miners!

·

Newest hardware is not longer enough.
I listed a table showing ROI is negative for all hardware at $0.1 kWh.

Cryptonoras has the newest machines by the way.

Interesting concept, I tend to think that there are a number of low-cost mining solutions people aren't aware of that are currently being used by larger companies.

·

As I said above, the major farms are based in China and are currently not profiting much (or are at a loss). Cryptonoras is able to profit even now because its energy cost is almost 40% less than the $0.08 faced in China.

Waiting..will be waiting for that rise up again so we can benefit much bigger again. :)

·

The entry cost in fiat would be higher too.

You know I will have to also be mining bitcoin but I was told the equipment were so so expensive to buy and even maintain so I gave up. Actually many people are still thinking whether it will still be possible to mine bitcoin at profit now that the price is low and considering the maintaince money or rather cost. Well I guess they are wrong then

Posted using Partiko Android

·

The key expense is electricity. The equipment is the fixed cost.
The thing is that most countries have kWh prices at $0.1 or higher. Norway's is half this and that makes it one of the few places where Bitcoin can be mined at a profit even when BTC prices are very low.

I gave up on bitcoin but this post gave some life to my bitcoin perspective again.
Thanks @hatu.

Posted using Partiko Android

·

same here man.. this is the light in the darkness ;)

Thanks for that excellent article. I'm generally bullish on cryptos for 2019 and will definitely be looking into this investment opportunity!

Now Crypto get down to around $3,000.

i need help from this situation. are mining still profitable or not?
actually i am mining in some website that www.swiftmining.win, maybe here i can find some website to get profit. Thank You

·

Mining profits are entirely dependent on your electricity cost and rig quality.
In the case of the farm presented in the article, the electricity bills are one of the lowest in the world and thus the mining adds up to a profit.

·
·

Please advise, which one is better to mining between NVIDIA and AMD RADEON?

And can i use VGA Card AMD with my setup is Intel Core i3?

Great read & now thoughts about mining the btc now .

If cloud mining were so profitable these companies wouldn’t have to hedge their bets and existence on selling hash power to the public for a staple income and have to deal with the volatile asset they are mining or proving the user with!

I’m not saying it cannot be profitable for someone who takes out a cloud mining contract users just need to do their research before diving in! In a bear market it could be worth it due to low competition and potential that your stakes value improves in the next run

It could also just be as profitable to spend that contract money on buying BTC directly and just hodl

As for securing the network I’m glad these companies are helping I’m just not a fan of large centralized mining operations

Posted using Partiko iOS

·

The opening line is a rebuttal to the buy proposal:
Mining BTC at costs below market price is essentialy access to BTC at a discount.

·

Exactly! Yet another Bitclub...

Great read & now thoughts about mining the btc now .

Bitcoins is the most popular cryptocurrency. For to hear about the crypto world, I first heard of bitcoins. More so to explain the process of block chain technology , illustrations are made using the bitcoin. Bitcoins are really an asset. Instead of keeping our wealth in fiat currencies we should always use cryptocurrencies. in its first years , a few minds understood the bitcoin and invested in it, later as the price increased we rushed to buy bitcoins. Then when the price dropped some people made losses. The real investors know where the real treasure is, and that is mining. Despite the challenges that have been faced in mining, the companies that have survived the test of time are better equipped than before. Companies such as cryptonoras are still standing and they are here to help us who cannot raise millions of dollars to start a mining firm to also take part in mining. Many thanks to the founders

·
·

Good post

I believe that the big miners are operating with losses in order to maintain a cheap BTC and thus eliminate the small miners to keep the monopoly. What do you think @hatu?

Posted using Partiko Android

·

I'm not sure if that's turning out as planned then.
The largest farms, based in China, are taking the hit. Cryptonoras is one of the very few operating on very cheap electricity and thus making a profit even now.

Nice.. i've been looking for something like this, i'm new to mining, will try to explore it

Great article! Thank you for you advice, I will have a look in your recommendation. I am really hoping to still earn even the current state of BTC right now.

·

That's the right spirit. :)

You are so generous in your advice, @hatu! Even I, who am so new to crypto, find this post very readable. Thank you for the skillfully presented content!

·

I try my best! :)

The role of miners is to secure the network and to process every Bitcoin transaction
Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions hence Bitcoins famous

Thanks 4 the infos ;)

I'd rather mine DASH or ETH!!

Interesting information...
I am an independent miner, at this moment I am extracting monero. That way I take advantage of my graphic cards.
Bitcoin mining years ago I discarded it.
It's probably a good time to start over with bitcoin.
Thanks for your post ...
Greetings.

Great advice! Thank you for sharing this @hatu

it's time for proof of stake , proof of capacity like as burst ... and more proof of eco-algoritms... pow keep only on useful projects with boinc or golem.

Miners are cheaters. I tried almost all. They all suck money out of you.

·

Please name some of the ones that you used so the community can stear clear from them.

·
·

la mineria es buena

·
·

e.g. Geneseis Mining, F2 Mining etc. When you start with them you get good return for first 15-30 days, if you add more money then again they pay you good for 15-30 days. And if you don't then payouts become irregular and less. Overall you don't recover your investment even after two years. Try it.

And their support sucks

·
·
·

Genesis has a rating of 2.9 and Cryptonoras has a rating of 4.9.
I think that says it all.

I just clean my mining machine and pack 😂

Posted using Partiko Android

⚠️⬆️Best time to make your Power Moves⬆️⚠️

@hatu dropping gems💎 for the community🌎


Meaning **BUY** 🔻〽️🚀 ⏲Only get this opportunity once a year... for **NOW**
I would invest myself if I had the funds. In the meantime, I'm finding **Secured** alternative ways to invest.
If you have any suggestions, please share. Love to hear of new ideas. Contact me via my website (Still under development)

https://flyx.carrd.co

Great post!

Want to increase property? Learn my friend : during the last bull run who decided to buy some random coins got the shocker of his life when his portfolio quadrupled as
a result of just 2 coin pumps. #nexty is not just a random coin and has that potential #crypto

I just clean my mining machine and pack 😂

Posted using Partiko Android

·

The kWH stands on the way of many us who for long have desired to get down the mining pools. The situations is currently worsened by the fact that the BTC price is too low.

·

A few countries have costs low enough to profit even now. $0.05 kWh can profit even if prices continue to tumble much more.

·
·

Amazing, wishes. Let's keep hoping the curve sifts to the good.

I work on a mining ditch, where the peasants shed electricity on their animals

Hell yes you simply hold on to what you mine and sell it later when the price goes up. your not mining for a profit right now but you should in theory be able to cash that bitcoin in at a higher rate later on.

·

Cryptonoras output is at a profit even at this moment.

Great update...about btc...♥♥

Posted using Partiko Android

The new forms of recycling contribute to the improvement of our society. It is excellent to see productive work.

The new forms of recycling contribute to the improvement of our society. It is excellent to see productive work.

Very good post dear

Posted using Partiko iOS

Thank you, great article. It's good to see the support behind Bitcoin/crypto with such companies. We are starting to see more benefactors helping society at large. This is evolution in my eyes.

Markethive's innovation is producing Mining Hives that create massive surplus electricity built on total 100% green energy. Along with Hemp/Medicinal Cannabis cultivation, it's sure to be a winner in the blockchain space and crypto industry. With its own coin exchange, ease of liquidity and underpinned by a plethora of Inbound Marketing products for its End Users, it's a complete Ecosystem for Entrepreneurs, Bloggers and Commercial Artists. This is something to keep an eye on as it comes up through the ranks.

Mining company are usually scams. How many times people need to fall for that? Why on earth they let you make profits. I'm pretty sure they'll run away within months or so.

·

It has 5 stars across the board and is insured by AIG Europe.

I don't know what kind of question this is? Ever owned shares in a company? Why do they issue you shares?

Capital allows expansion, which in turn allows greater economies of scale. This equates to greater aggregate profit. It's a mutual benefit.

·
·

Hahaha 5 star and insured by AIG. What kind of weak pursuasion is this. If it's that simple to get mutual benefit why do u even need this promotion shit why dont you just rely on your so calledbenefits. Well it's just waste of my breathe anyway. Happy scamming

hello hatu brother,bitcoin is international busessnes. i reacived your post

If you do cloud mining with any company, you are trusting a 3rd party to pay you. Most likely you will be fine, but there is always a chance that this company may not pay you, or may pay you less than expected. Cloud mining packages always project and sell you on ROI, when in fact, despite their predictions and figures, there is NO GUARANTEE from ANY cloud mining that you will receive a return. Buyer beware. Cloud mining can make you money. Some do have cheaper electricity and can deliver, but there are a lot of factors that make mining just as volatile as price can be. You can go from profit to out of business in a very short amount of time based on many variables and factors.

Posted using Partiko iOS

This is a very informative post for me as I have been wondering about the state of crypto mining lately and your post has answered all my questions. I guess I have come into the game late as I only started her about a month ago so still getting the hang of things. Thanks for the easy to follow information🙏

Is there any transaction nowadays with Bitcoin that you can actually get something in return or get a profit from it?

·

There is no such phenomenon in history where you gave something money and instantly got back more. You have to be a bit patient as the returns accrue over time. With this farm, you do have the benefit of being able to withdraw on a daily basis.

Congratulations @hatu! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made more than 11000 comments. Your next target is to reach 12000 comments.

Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Support SteemitBoard's project! Vote for its witness and get one more award!

Interesting! Have you join a trading competition before? because i want some tips before i join on this trading competition. https://www.kucoin.com/#/rank/KAT

Do you think if i join trading competition like this, i can still make profits?

https://www.facebook.com/KuCoinOfficial/photos/a.194930778025344/307834223401665/

·

The winner needs to transact most. So, I'd say if you need to ask whether you can win it, you are likely not going to win it.

Any form of proof of work mining that requires me to trust a 3rd parties to do the job is unintresting to me.

If i had to mine Bitcoin. I'd start with exploring the Solar PV Battery space and find a setup that generates 0 cost electricity to run my miners and then scale up (if ever).

Bitcoin mining don't make sense if it's not done by 1 million folks in 1 million places in a decentralized manner.
Bitcoin mining still hurts the planet so long as it runs on cheap fossil fuel.

great advice

@hatu,
Are you talking about Energy > Bitcoin and Bitcoin > Energy?
If the problems were the problem of most mining company thus the alternative way to produce electricity such as solar power, Wind Mills power plants and etc.

Thus, Most users of Bitcoin Mining such as HashFlare lost profit in a way that the investment of users was not been refunded.

In the facts of downfall in bitcoin price and unrefunded investments of crypto users will be the reason to hardly believe right now in Mining Company Promises. Thus, crypto users hoping to earn and choose to invest in other stable cryptos rather than bitcoin.

Thus, Bitcoins drop to below 4000$. Users prefer to HODL and try other cryptocurrency which is staying to be stable than Bitcoin.

Are gpu Minning is profitable?

How’s the demographic of users on your platform looking? I’m really interested in getting to know which parts of the world are showing interest, or trying to make use of the opportunity provided by yourself.

Best wishes on the project. Looks really intuitive.

Posted using Partiko iOS

In the future , you think BTC is still the number one or ETH is the second in crypto ? I believe in Nexty Platform.
An excellent platform for retail and capital mobilization #crypto #nexty

emazing picture

emazing picture

Hi! I enjoyed your post. I'm learning. I can't invest yet, but ...¡one day!
@cryto.Piotr is right, you allways bring very interesting information

¿Cómo se observa el mercado de minería actualmente? ¿Es factible?

Congratulations @hatu!
Your post was mentioned in the Steem Hit Parade in the following categories:

  • Comments - Ranked 3 with 96 comments
  • Pending payout - Ranked 1 with $ 231,02

Good idea about bitcoin mining. Thanks for this post.

Am nursing this idea of a mining farm that run electricity generated from animal waste, am a farmer and I've seen biogas been used, if a crypto mining farm needs electricity and it's gotten from the nearby Agric farm, I think the problem is solve.

#sustainability.

Posted using Partiko Android

·

Very interesting idea.
But you should do the math on whether the generated energy would sell for more than the value you'd get from BTC. If you're in Norway, mine with it as the sale price of the energy would be pretty low.

Excellent Post Friend! Great subject, this Bitcoin world is wonderful, this type of information is essential. Useful and super helpful, in addition to the knowledge it provides. Great companion, Greetings!!

Congratulations @hatu! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

Your post got the highest payout on one day

Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word STOP

Support SteemitBoard's project! Vote for its witness and get one more award!

f you have the newest hardware, usually you will maintain to be profitable, wish i could afford one of those new BTC miners!

I dont know how to mine, should i trust trading competition like this so that i can also gain some investments?
https://twitter.com/KuCoinUpdates/status/1072796548747149312

still profitable, i use only cpu with low cap cryptonite coin then exchange to btc or xrp

Posted using Partiko iOS

You got a 18.87% upvote from @booster courtesy of @hatu!

NEW FEATURE:

You can earn a passive income from our service by delegating your stake in SteemPower to @booster. We'll be sharing 100% Liquid tokens automatically between all our delegators every 24 hours.
Quick Delegation: 1000| 2500 | 5000 | 10000 | 20000 | 50000

If you buy BTC & many other altcoin will easily lose money .With #Nexty : Do not worry about the decrease in NTY rates because:
NTY values increase due to its popularity, community acceptance and ecosystem expansion. #blockchain #eth