Is Crypto Mining Still Profitable in 2019?! ??

Is crypto mining still profitable in 2019? Is there really a way to configure GPU and ASIC hardware, cooling equipment, profitability calculators and other magical relics to make mining worth it?

At least in 2017, when we released our first mining video on Youtube, it was actually possible to make some good money with mining. In fact, mining is what led to my foray into the world of cryptocurrency. It’s why I started leveraging off my experience building high end computers to build some pretty crazy GPU mining rigs; rigs that were in pretty high demand at the time and quite a few people actually purchased.

During that time, one of my partners also started picking up a number of ASIC miners to add to his collection, including a Bitmain L3+ which will have a bit of a cameo appearance during the beginning of this video. You don’t want to miss that!

Over two years later and much wiser in the realm of bitcoin mining, blockchain and all other things crypto, I can honestly say that we don’t own any mining rigs anymore. We actually sold off all our GPU miners by the very beginning of 2018. But what bout the ASIC rigs? You’ll see shortly, trust me!

The reality is that there has been an extreme shift in the crypto space since we started mining, which has led to an unprecedented influx of institutional money into the industry. This has caused a huge increase in competition for mining revenue, which continually decreases the useful life of existing mining hardware and reduces mining profits at an alarmingly rapid rate.

While paying top dollar for the newest graphic cards or ASIC miners might seem like a logical step after looking at the top earners on sites like WhatToMine, it’s actually just an illusion. The daily profits that you see on mining calculator websites today will be quickly eroded by the introduction of newer hardware and institutional competition. Only large corporations with deep pockets can actually afford the continuous recycling and maintenance of hardware that crypto mining requires to possibly generate an attractive return on investment. Small-scale mining enthusiasts will need the actual coins mined to appreciate in value drastically in order to be able to generate a positive ROI. The reality is that the great majority will never be able to completely cover hardware and energy costs. Furthermore, accumulating tokens mined with the hope of capital appreciation is not really mining at all. Mining as a business is only viable if the actually initial value of all the tokens mined covers all associated costs and then some; otherwise, you’re better off simply taking the money for hardware and other expenses and investing it into the actual coins you were planning to mine.

So is there a way, any way, to make mining profitable in this day and age? We would love to have YES answer to this question. After all, we receive daily mining inquiries via email and direct messages in droves. Unfortunately, we need to burst your bubble on this one. There is just no way to make mining profitable in the great majority of cases.

“I don’t believe you,” you may say. “I see cloud mining companies out there promising a return and traders who promise an attractive return from mining!” If this is you, then you’re in serious need to watch our video on scams in the crypto market!

Mining in 2019 is just not profitable!

If you enjoyed the video, give us a follow, and remember to check out our social pages and crypto resources below!

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https://goo.gl/XtrCJv

Access the Pro Version of the Tradingview Platform:
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https://www.tradingview.com/u/cryptoplayhouse/

Music thanks to Purple Planet Music, & Charun from Free Music Archive.

Is Crypto Mining Still Profitable in 2019?! ??

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Kane Dane