Is it still profitable to mine bitcoin in 2019?
There are many ways to mine bitcoin nowadays, you can mine by using an ASIC miner, GPU and through Cloud mining services. Bitcoin mining improved a lot since its early days where you can mine bitcoins easily on your own computer or you can buy bitcoin for less than 5 dollars.
But now, the best way to mine bitcoin is by using a powerful ASIC miner or using a cloud mining service. ASIC miner companies are going with the flow and keeps on improving their products to follow the up and downs of cryptocurrency.
So to answer the question, mining bitcoin today is still profitable, ASIC miners evolved a lot and work best on their date of creation so you must look at the asic miner’s hashrate production, power consumption, price, and power efficiency. The best for earning bitcoins is using the new and preferred machines for today rather than using outdated ASIC miners that has low TH/s and consumes a lot of electricity that may not make you any profits but may cost you more than you earn. You may check the newest ASIC miners like the Bitmain Antminer, Ebang Ebit, Innosilicon, Gominer GMX, Canaan Avalon miner and GMO miner.
Another way to mine good profits on bitcoin is through cloud mining services. This is the easiest method on earning bitcoins but has some risks. To explain this method in an easy way, cloud mining is like renting an ASIC miner on a company and you pay for the service fees, like electricity, maintenance and etc, but all of these fees are all included in one fee. What’s good about cloud mining is you don’t have to buy an expensive rig and you don’t have to maintain a noisy ASIC miner at home that also produce heat and may disturb your sleep. There are few good cloud mining company that offers their services like Genesis mining, Nuvoo, Gominer and Hashing24.
Any comments, suggestions and experiences? Share it on the comments section. Happy mining!.