DE
@Deanbennett
10 points

Dean Bennett

Last activity a year ago

Signed up a year ago

DE

Like everyone else has said, cloud mining is a scam. If you want to mine, you should be prepared to make a decent investment, and learn how to do it. There are mining pools you can join, if that’s what you meant — they charge a small fee to pool your hashrate with others, which is good for people that can’t build mining farms.

ASICs are used for mining Bitcoin, while GPUs are used for mining almost everything else. Be prepared to buy the hardware and cover your energy costs. Breakeven ROI is usually about 9 months on average.

Also keep in mind that mining has significant power and cooling requirements, and the hardware is usually pretty loud. You probably won’t be able to generate an average income mining in your house — you won’t have enough power, and your cooling system won’t be able to remove all of the heat…and you’ll be able to hear it running. If you’re looking to make over probably $25k/year, you’ll need a dedicated building with its own power and cooling.