How Much do Bitcoin Miners Make?

Bitcoin Mining Profitability Examined

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What is Bitcoin Mining?

The concept of “mining” bitcoin might seem a little strange, so let’s first define what it actually is.

Times Have Changed

Back in the day, when Bitcoin first came out (which was 2009), obviously the reward was a lot more bitcoin. But keep in mind that 50 BTC was barely worth anything at the time. (Miners who held onto their stash, however, have seen those 50-BTC rewards become worth half a million dollars each today.)

Power and Difficulty

So first of all, you need a special, super-fast computer with a lot of processing power. Then you need a lot of electrical power to run it. Getting the trend? Gotta have power! You will probably hear talk of “hashing power” to describe this.

But is Mining Profitable?

You can, in theory, still mine with your computer. But it will be making slow calculations in comparison to other machines, which makes it hard to beat the competition to the prize. Your chances of winning the jackpot are so slim, and the costs to get there so high, that it’s probably not going to be very profitable. You might even lose money during the process.

The world’s leading operator of two-way Digital Currency Machines (DCMs), more advanced Bitcoin ATMs.

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