Mining requires many hardware tools which are very expensive. The household electricity tariff in Singapore is 0.
Other than acquiring the large electricity to run the machines, large amount of heat is generated while running these servers. They have to be running 24 hours, hence you need to have airconditioning to keep them cool and running smooth. With the electricity tariff in most countries particularly in Singaporeit will not allow you to make any profit from mining. Bitcoin mining is only truly profitable when the electricity is free Like from the Chinese Government or your college.
They are at least x better at mining bitcoin than even the best GPUs. Mining bitcoin with a GPU is like trying mine gold with a spoon.
At that time, he received 15 BTC after 20 hours of mining. Today, one would be lucky to get 0. CoinWarz offers a good mining profitability calculator, which automatically fills in the current BTC price, difficulty and block reward info.
Enter specs and cost, as well as other information such as power cost and pool fees to find your profitability. Today, Bitcoin mining is extremely competitive and not worth investing. So Despite being profitable, I tend to stay away from mining because the initial investment is high. And it requires a large quantity of continuous electric supply This is a large part of the investment. And it is a very competitive space.