I’m not, well not if you have to pay for electricity. The protocol is literally striving to make the least efficient miners not profitable … and does it every two weeks.
If one does not have access to cheap electricity, one should not mine. Just allocate that capital to savings using bitcoin.
on a long enough timeline, all miners are profitable. mining is a long position on #bitcoin
But are they more profitable than buying bitcoin with the original capital allocation? And at what discount rate are they profitable? These are the key questions facing someone who is deciding whether to buy or mine. Obviously there are privacy and security considerations, too. But for only profit…for most people at this time in bitcoin’s history…buying bitcoin is a better capital allocation vs. mining.
apples to oranges. buying is an investment, and yes, on paper looks better (and often is), but depending on your jurisdiction up to half of that profit could be lost to taxes. mining is a business, and has numerous tax advantages as such. anyone home mining knows you they cant compete with big mining outfits on $/kWh, so its a hobby. In my case, I heat my house during the winter with mining, and play with things like bitaxe as a hobby. at this point I value the knowledge and skills more than stacking the absolute maximum sats I can.
