My future as a Miner

[GEMIN_M4]

How is Bitcoin mining in 2025? I have been evading Bitcoin mining since 2022 because it was too costly for me, Ethereum mining seem like the best option at the time until they suddenly move away from proof of work, it was painful experience as it was the death of GPU mining that time, I struggled to keep going with Ethereum Classic mining and I was able to get some handful numbers of ETH right now..

What advice do you have for me fellas? Should I move to Bitcoin mining? Although I am hoping that ETH can atleast reach 5,000 per one ETH and this will make it worth all the stress since 2022, do you think I should move into Bitcoin mining right after? The few experiences from strangers that I read on reddit isn't pleasant to the soul, they claimed that Bitcoin mining isn't good anymore.

Only one way to find out, because this forum have been very supportive to me on my Ethereum mining years ago, I learned few new things on here, so I believe I can't get bad information here.

[mikeywith]

Mining is hardly profitable that's one, two, we are approaching the cycle top (don't ask me how I know, we have been doing the same cycle shit since forever), terrible timing to invest money in mining gears, the next cycle is going to be even more brutal.

My strategy is exist the market slowly (December is probably going to mark the cycle top with 1-2 earlier or later) then a long bear market, start my accumulation, wait for the next cycle.

[retaur]

The time to buy mining equipment for Bitcoin is when demand is low (like during a bear cycle or a short while after a market crash) as these are the times when the hardware manufacturers are most in need of keeping their contracts going.

[philipma1957]

If you're already mining Ethereum and it's profitable, it'll likely stay that way for longer than Bitcoin would be if you switch to a Bitcoin mining rig (but not for much longer).

The time to buy mining equipment for Bitcoin is when demand is low (like during a bear cycle or a short while after a market crash) as these are the times when the hardware manufacturers are most in need of keeping their contracts going.

There is no eth mining it went pos years ago.

[GEMIN_M4]

Mining is hardly profitable that's one, two, we are approaching the cycle top (don't ask me how I know, we have been doing the same cycle shit since forever), terrible timing to invest money in mining gears, the next cycle is going to be even more brutal.

My strategy is exist the market slowly (December is probably going to mark the cycle top with 1-2 earlier or later) then a long bear market, start my accumulation, wait for the next cycle.

Sounds about right, I have seen few posts like this one too that Bitcoin top is very near than ever now, I am going to wait and see what ETH does because that's the money I planned to rotate into Bitcoin mining, but it seems I am better off just buying bitcoin at the lows in 2026 if the bear market do hit like few predicted.

Thank you for the time you took to reply to my question, I will keep your warning and advice in mind.

[FP91G]

Mining is hardly profitable that's one, two, we are approaching the cycle top (don't ask me how I know, we have been doing the same cycle shit since forever), terrible timing to invest money in mining gears, the next cycle is going to be even more brutal.

My strategy is exist the market slowly (December is probably going to mark the cycle top with 1-2 earlier or later) then a long bear market, start my accumulation, wait for the next cycle.

Why isn't mining profitable?
If you have electricity at 2-4 cents and a mining location where you can install and maintain the equipment yourself, your return on investment will be excellent. You can recoup your investment within a year.
If you have no experience, no location, and expensive electricity, it's unprofitable.

[breske]

Mining is hardly profitable that's one, two, we are approaching the cycle top (don't ask me how I know, we have been doing the same cycle shit since forever), terrible timing to invest money in mining gears, the next cycle is going to be even more brutal.

My strategy is exist the market slowly (December is probably going to mark the cycle top with 1-2 earlier or later) then a long bear market, start my accumulation, wait for the next cycle.

Sounds about right, I have seen few posts like this one too that Bitcoin top is very near than ever now, I am going to wait and see what ETH does because that's the money I planned to rotate into Bitcoin mining, but it seems I am better off just buying bitcoin at the lows in 2026 if the bear market do hit like few predicted.

Thank you for the time you took to reply to my question, I will keep your warning and advice in mind.

That's the best investment you can make don't go with mining better invest on BTC when there is the bear market but keep in mind that you need to be disciplined and not to spent any btc more than 5-10 years
and also make sure to store them on secured wallet don't keep on exchanges

[mikeywith]

Why isn't mining profitable?
If you have electricity at 2-4 cents and a mining location where you can install and maintain the equipment yourself, your return on investment will be excellent. You can recoup your investment within a year.
If you have no experience, no location, and expensive electricity, it's unprofitable.

I said mining is "hardly profitable" and whenever I advise against mining bitcoin I advocate buying Bitcoin instead, to me it is this way:

buying BTC > mining > fiat

You may not agree with me but I base my arguments based on facts, for mining to beat DCA into BTC you need a lot of stars to allign, you can't  just make assumptions that your gear will run for a few years before breaking or before difficulty sky rocketing, we all have seen many mining operations (large and small) lose money and go broke, but we have not seen many who DCAed their way buying BTC and regreted it 4 years later.

See, it is no rocket science, if you are a miner you have time against your side with all the difficulty growth and potential gear or infrastructure failure, and every second passes ads more risk to your investment, on the contrary, if you just hold BTC time is always on your side, the longer you hold -- the more value your assets earn.

But again, by all means, if you think mining BTC beats buying it, go for it.

[FP91G]

Why isn't mining profitable?
If you have electricity at 2-4 cents and a mining location where you can install and maintain the equipment yourself, your return on investment will be excellent. You can recoup your investment within a year.
If you have no experience, no location, and expensive electricity, it's unprofitable.

I said mining is "hardly profitable" and whenever I advise against mining bitcoin I advocate buying Bitcoin instead, to me it is this way:

buying BTC > mining > fiat

You may not agree with me but I base my arguments based on facts, for mining to beat DCA into BTC you need a lot of stars to allign, you can't  just make assumptions that your gear will run for a few years before breaking or before difficulty sky rocketing, we all have seen many mining operations (large and small) lose money and go broke, but we have not seen many who DCAed their way buying BTC and regreted it 4 years later.

See, it is no rocket science, if you are a miner you have time against your side with all the difficulty growth and potential gear or infrastructure failure, and every second passes ads more risk to your investment, on the contrary, if you just hold BTC time is always on your side, the longer you hold -- the more value your assets earn.

But again, by all means, if you think mining BTC beats buying it, go for it.

But then answer another question: why is Bitcoin's hashrate growing? Is it possible that mining companies haven't heard of the DCA strategy?
There's an expression in Russian, "Don't wear someone else's slippers."
To put it simply, mining allows you to buy Bitcoin (DCA strategy), but at a much lower cost if you have affordable electricity and a good location.

[logfiles]

Sounds about right, I have seen few posts like this one too that Bitcoin top is very near than ever now, I am going to wait and see what ETH does because that's the money I planned to rotate into Bitcoin mining, but it seems I am better off just buying bitcoin at the lows in 2026 if the bear market do hit like few predicted.

Yep, less stressful too. No maintenance cost troubles or spending sleepless nights to ensure the rigs are running just right.
This mining game left most of the small scale miners in areas where electricity costs are slightly up, unless if it's a hobby you really want to venture in.

But then answer another question: why is Bitcoin's hashrate growing? Is it possible that mining companies haven't heard of the DCA strategy?

I think this is to some extent similar to;
1. A large scale farmer vs a small scale farmer
2. Large scale earth mineral miner vs a small scale miner.

Who benefits the most in the long run? Obviously, the big guy.
They are able to cut deals through preordering and importing the equipment, they get tax cuts, they are able to get lower electricity tariffs for industrial use compared to the small guy.

[mikeywith]

But then answer another question: why is Bitcoin's hashrate growing? Is it possible that mining companies haven't heard of the DCA strategy?

Mainly for three reasons.

1- people are greedy and they think the can make profit by mining without actually understanding shit about mining.
2- most of the hashrate comes from the U.S large firms who use investors money and have little to no risk.
3- large firms in the U.S have some tax "games" they can play to benifit from equipment purchase vs buying BTC.

So just because hashrate is going up, it doesn't mean people are doing the "right" thing.

[Man of peace]

[quote author=GEMIN_M4 link=topic=5561124.msg65877099#msg65877099 date=1759515762

What advice do you have for me fellas? Should I move to Bitcoin mining? Although I am hoping that ETH can atleast reach 5,000 per one ETH and this will make it worth all the stress since 2022, do you think I should move into Bitcoin mining right after? The few experiences from strangers that I read on reddit isn't pleasant to the soul, they claimed that Bitcoin mining isn't good anymore.

Only one way to find out, because this forum have been very supportive to me on my Ethereum mining years ago, I learned few new things on here, so I believe I can't get bad information here.
[/quote]

Why not think about investing that which you was able to minned on the Ethereum into Bitcoin for long term investment,i think this will be more profitable to you than mining if only you can be able to hold it for long period of time and be more focus on buying Bitcoin if you can,than mining them,...

[FP91G]

But then answer another question: why is Bitcoin's hashrate growing? Is it possible that mining companies haven't heard of the DCA strategy?

Mainly for three reasons.

1- people are greedy and they think the can make profit by mining without actually understanding shit about mining.
2- most of the hashrate comes from the U.S large firms who use investors money and have little to no risk.
3- large firms in the U.S have some tax "games" they can play to benifit from equipment purchase vs buying BTC.

So just because hashrate is going up, it doesn't mean people are doing the "right" thing.

But then answer another question: why is Bitcoin's hashrate growing? Is it possible that mining companies haven't heard of the DCA strategy?

I think this is to some extent similar to;
1. A large scale farmer vs a small scale farmer
2. Large scale earth mineral miner vs a small scale miner.

Who benefits the most in the long run? Obviously, the big guy.
They are able to cut deals through preordering and importing the equipment, they get tax cuts, they are able to get lower electricity tariffs for industrial use compared to the small guy.

I'll respond to two posts.
All the comments are valid, but

It's possible that inexperienced newbies continue to invest in mining, but I don't believe that. Newbies don't have the necessary processing power, and even a 3-kilowatt ASIC in an apartment would be a challenge.
Therefore, I'm confident that it's the big players, not small miners, who are investing in mining.

According to the latest data, 5 GW of power is used for mining in Russia, but legal miners use no more than 40% of the capacity.

Consider how profitable mining is in Russia if illegal mining uses more than 3 gigawatts of power

[Joy- maker]

Why isn't mining profitable?
If you have electricity at 2-4 cents and a mining location where you can install and maintain the equipment yourself, your return on investment will be excellent. You can recoup your investment within a year.
If you have no experience, no location, and expensive electricity, it's unprofitable.

I said mining is "hardly profitable" and whenever I advise against mining bitcoin I advocate buying Bitcoin instead, to me it is this way:

buying BTC > mining > fiat

You may not agree with me but I base my arguments based on facts, for mining to beat DCA into BTC you need a lot of stars to allign, you can't  just make assumptions that your gear will run for a few years before breaking or before difficulty sky rocketing, we all have seen many mining operations (large and small) lose money and go broke, but we have not seen many who DCAed their way buying BTC and regreted it 4 years later.

See, it is no rocket science, if you are a miner you have time against your side with all the difficulty growth and potential gear or infrastructure failure, and every second passes ads more risk to your investment, on the contrary, if you just hold BTC time is always on your side, the longer you hold -- the more value your assets earn.

But again, by all means, if you think mining BTC beats buying it, go for it.

You are very correct when you said that  mining "is hardly profitable " and I don't know why someone person's are still arguing it, let's take Bitcoin mining for instance, back them, or let me say in the early days Bitcoin mining use to be very profitable for the early adopters, because back then things where not the way they are presently. And Currently Bitcoin mining is mostly profitable for large scale operations with cheap electricity and efficient hardware. So for that reason I have to agree with you that DCA into Bitcoin is better and more profitable than Bitcoin mining, and anyone who choose to DCA  into Bitcoin instead of Bitcoin mining has nothing to regret at all. And as for the OP I will advice you DCA into Bitcoin instead of switching from eth mining to Bitcoin mining, because I don't believe you will be able to succeed, especially now that things are very expensive including electricity bills.

[FP91G]

Why isn't mining profitable?
If you have electricity at 2-4 cents and a mining location where you can install and maintain the equipment yourself, your return on investment will be excellent. You can recoup your investment within a year.
If you have no experience, no location, and expensive electricity, it's unprofitable.

I said mining is "hardly profitable" and whenever I advise against mining bitcoin I advocate buying Bitcoin instead, to me it is this way:

buying BTC > mining > fiat

You may not agree with me but I base my arguments based on facts, for mining to beat DCA into BTC you need a lot of stars to allign, you can't  just make assumptions that your gear will run for a few years before breaking or before difficulty sky rocketing, we all have seen many mining operations (large and small) lose money and go broke, but we have not seen many who DCAed their way buying BTC and regreted it 4 years later.

See, it is no rocket science, if you are a miner you have time against your side with all the difficulty growth and potential gear or infrastructure failure, and every second passes ads more risk to your investment, on the contrary, if you just hold BTC time is always on your side, the longer you hold -- the more value your assets earn.

But again, by all means, if you think mining BTC beats buying it, go for it.

You are very correct when you said that  mining "is hardly profitable " and I don't know why someone person's are still arguing it, let's take Bitcoin mining for instance, back them, or let me say in the early days Bitcoin mining use to be very profitable for the early adopters, because back then things where not the way they are presently. And Currently Bitcoin mining is mostly profitable for large scale operations with cheap electricity and efficient hardware. So for that reason I have to agree with you that DCA into Bitcoin is better and more profitable than Bitcoin mining, and anyone who choose to DCA  into Bitcoin instead of Bitcoin mining has nothing to regret at all. And as for the OP I will advice you DCA into Bitcoin instead of switching from eth mining to Bitcoin mining, because I don't believe you will be able to succeed, especially now that things are very expensive including electricity bills.

If you can mine Bitcoin for less than the market price, then mining is profitable over the DCA strategy. However, you're right that Bitcoin mining isn't currently accessible to everyone due to the impossibility of installing industrial-grade equipment at home. Therefore, everyone must make their own choice.

[philipma1957]

Is btc mining even worth it for a small setup anymore, i read that the big farms have basically taken over the hashrate so maybe just buying the coins is a safer bet for us little guys

As always your electric price is what matters.

At 1 ,2,3, cents a kwatt it makes sense to mine
At 4,5,6 cents a kwatt it makes some sense to mine
At 7,8,9 cents a kwatt it is more like an if to mine
At 10 or more cents you will likely lose money

If you need a space heater in the winter and use it quite a bit mining makes sense.

All of the above is subject to laws of your country.

[FP91G]

Is btc mining even worth it for a small setup anymore, i read that the big farms have basically taken over the hashrate so maybe just buying the coins is a safer bet for us little guys

A 3-kilowatt ASIC will consume 2,200 kilowatts of electricity per month. If you have a quota for electricity consumption at a low price, use the calculator and calculate your profit. If your electricity is in the 10-20 cents per kilowatt range, forget about mining.