Tell us:
Why DO or why DON'T you mine #Bitcoin - we're seriously interested! 🤓
We want to zap at least 25 people 150 sats each for this feedback, so please like/repost for awareness.
Give us the deets 😎 
Discussion
I’d like to mine and be part of the network as much as possible. It does seem cost prohibitive for the hobbiest and a little daunting when still learning how to use a node ✌️
Mining is my favorite way to convert fiat to bitcoin. Pay for energy and get sats back straight to own wallet. Cut the exchanges out of the mix entirely.
Down with the exhanges?
Pitchforks out?
Or is that just us?! 😎
because I don’t have cheap power and I’ve heard so many issues with people getting bunk ASICS etc… I also always think buying btc now with dollars will pay off in the future definitely vs investing in a rig + setup + time+ whatever may not…
Buying #Bitcoin is always a good decision!
I've done pool mining for 3 years now. I've used only old hardware given to me by companies I've worked for or colleagues. The towers help cycle my solar power bank used for my home back up as well. I still require grid power too and operate at a lose at current btc price. I have no problem with that because its for my kids and when they are of age it'll be worth more than the power it cost to mine. I'll reassess this setup at the end of this cycle
Be methodical about it and decide whether it's right for you.
No need to rush in!
I started with a Bitaxe now, but the bigger miners would be too loud for my app I think. I do plan to build some heating with miners in my own house later
Miner heat reuse is a whole emerging industry!
🔥🔥🔥
Indeed. Any tips you can give to people just getting into mining?
1) Start small (get a #bitaxe or tiny miner)
2) Mine for practical uses cases (heat, industrial use, making otherwise wasted electricity practical)
3) Cloud mining is (almost) 100% a scam - if you don't have a serial number for a miner that you can eventually custody...you're not mining.
4) Mining has a cycle just like #Bitcoin - the best time to mine is when BTC is "dead" and hashrate is at historical lows.
Noise
Spending more than I'm making
Simple as that.
Hey, it's not for everyone!
Makes sense.
I mine to be a participant in keeping the network strong even know I’ll never find a block. That’s okay 👍🏼
Amen, but don't give up hope.
You MIGHT find a block one day 😎
We want to be part of the greatest economic revolution that man has ever seen in every way possible so we now own two bitcoin mining rigs, one that will be soon in your Paraguay facility. Owning a percentage of global hash rate is a big deal. Glad to be part of it.
Can't zap ya! 
In Venezuela the eletricity goes off daily, the equipment will be off daily ,i might loose the conection/setup and i could have to do everything again
Make sense - gotta be practical about it.
I do not mine because doing it at a small scale is not profitable enough to be worth the upfront investment. Doing it at a large scale has too many operational risks for someone with no expertise. So I land on just buy bitcoin. At least while you still can.
I do run a #bitaxe
Hey, a #bitaxe is still hashrate!
😎⚡️⛏️
I run a Bitaxe.
I got it because I wanted to learn how to set it up and how it works. As an added bonus, I have a forever lottery ticket and am doing my very small part in providing more hash power to the network.
Got 2 bitaxe hex mining ocean. Been running them for 6 months. To support the network and for the pleasure to create sats. And because it is the way. It’s part of reaching for living on a btc standard.
Also mining a bitaxe directed at ocean pool. Couple months now. Not enough rewards to get a payout, but I also haven’t set up lightning yet. Thinking of getting another and solo mining for my lottery ticket. Feels right to participate in the network and wanted to understand it better.
Bro said it. It feels right.
I am on the edge of getting a bitaxe.
I’m worried about my country becoming anti bitcoin so getting some from the source seems like a good idea.
Still want to investigate how often a bitaxe actually gets a payout and if playing that lottery is worth it or if I just find another way to buy without getting debanked.
Get a #bitaxe and start hashing!
despite being a global net exporter of outstanding quality energy, Australia has some of the most borked and therefore expensive energy price/kW in the world. 🤷♂️🇭🇲⚡
That's crazy, mate! 🦘
The general feedback you get from the community is to stack sats and forget about mining.
I've been stacking for about 4 years but I recently bought a Bitaxe just to use it to explore the mining side of Bitcoin.
I'm interested in companies that would make it more accessible and keep it decentralized.
I think there will be many models in consumer mining. There will of course be hosting solutions (though these can easily be or become malicious). There will be solutions like Bitaxe - which are very expensive in terms of $/Th but the philosophical benefit is that bitaxe is open source. Then there are the solutions that Canaan has made (branded as small space heaters that mine Bitcoin), these presently give the best $/Th but they are certainly not open source. I expect more companies to come out with similar products as it gives an opportunity to resell very old chips at WILD margins relative to what the industrial industry can accept. The risk for this segment in a vacuum is that it never becomes more than a hobbyist niche (where buyers are not strictly concerned with rationality of profit). However, this is where opportunities arise to really lean into the “heater that mines bitcoin” for things like water heaters and the heating element in home HVAC systems.
I’m running a Bitaxe and 3 Canaan Avalon Nano3 (with 3 Nano 3S on the way in Feb). I’m having fun with this, but it’s certainly not profitable at my present assumed power costs.
1. The price of electricity is prohibiting and according to my calculations it is way more profitable to just buy it directly.
2. The HASH rate just spirals out of control higher and faster than the BTC price, which makes the miner less and less profitable.
3. The fiat price of the full mining setup will take years to be paid back by the mining operation.
4. The BTC price of the mining operation can never be paid back.
Bulk buying of machines + almost free electricity makes the operation profitable, but buying BTC is more profitable. Ask the biggest miners, they are buying bitcoin themselves.
I'm solo mining to Public Pool hosted on my own node with an S9 for heat. I do it because I want to win the 312,500,000sat powerball. If I don't win, I needed to heat my house anyway. I'm printing free lottery tickets and decentralising the network.
Really unfavorable taxation in the US.
I don’t mine bitcoin because it’s not sustainable.
How so?
Too much energy
High Energy Consumption – Bitcoin’s Proof-of-Work (PoW) consensus mechanism requires miners to solve complex mathematical puzzles to validate transactions and secure the network. This process demands significant computational power, leading to enormous energy consumption. Some estimates suggest Bitcoin mining consumes more electricity than some small countries, raising concerns about its carbon footprint.
2. Environmental Impact – Since much of Bitcoin mining relies on fossil fuels, particularly in regions like China (before the crackdown) and Kazakhstan, it contributes significantly to carbon emissions. While some mining operations use renewable energy, the overall environmental impact remains a concern, making Bitcoin less attractive in an era focused on sustainability.
3. Scalability Issues – Bitcoin’s network can only handle about 7 transactions per second (TPS), which is far lower than traditional payment systems like Visa. This limitation makes it inefficient for widespread adoption as a global payment system, leading to higher fees and slower transaction times as network congestion increases.
4. Centralization of Mining Power – Mining has become highly specialized, dominated by large mining farms and pools with access to cheap electricity and advanced hardware. This centralization contradicts Bitcoin’s original vision of decentralization and makes the network vulnerable to manipulation by a few powerful entities.
5. Regulatory and Economic Concerns – Governments worldwide are increasingly scrutinizing Bitcoin due to concerns about money laundering, tax evasion, and financial stability. If strict regulations or outright bans were imposed, Bitcoin’s viability as a mainstream financial asset could be threatened.
6. Dependence on Speculation – Unlike traditional assets, Bitcoin’s value is highly volatile and primarily driven by speculation rather than intrinsic utility. If investor sentiment shifts, Bitcoin could face dramatic price declines, affecting its long-term sustainability as a store of value.
Margins are to small for the little guy these days. Was always going to happen
Haven't bought a bitaxe yet.
I don't mine because I can't, I am in Cuba and the power bill would be unaffordable 🤷♂️
I mess with it small scale. But the s19jpro goes down regularly and loses income. But the no-kyc btc was a bonus even though it was never a positive ROI. Micro miners like the Apollo and Bitaxe will never have a positive roi, but have a role as a lottery miner, but also as a learning tool.
Thank you :-)
Love being paid by network itself!
1. Electricity expense at home…
2. More efficient ways of stacking sats
3. I’d run a node, just don’t have extra hardware at the moment and spouse and son aren’t keen on adding heat to the home 🥵
4. That brings us to renting servers, via, using 3rd party hosted mining solutions…those I’ve looked into aren’t really profitable for my scale at the moment
nostr:npub10vkwadgkfkg9vzpe04a6rhpzrd8rlw0r84qelag5hgtycrykgz3qvty3ep #thanks for the #zap
I do it to accumulate sats in a sovereign way while contributing to the security of the network
Mining is the best form of a DCA. Sats on discount and they aren’t tagged by any KYC