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Mining
How profitable is cryptocurrency mining?
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[QUOTE="Leah Kelvin, post: 344111, member: 106815"] The profitability of mining cryptocurrency is determined by different factors such as hardware costs, electricity expenses, difficulty of mining, block rewards and the price of a cryptocurrency. Key factors to consider for profitability assessment are initial capital for hardware investment, continued cost in power usage, rivalry among miners, block rewards, prices of cryptocurrencies in markets among others. In order to mine successfully, one must conduct extensive research and carry out financial analyses as well as plan effectively so as to understand the risks involved and potential returns. Determining if mining is profitable isn’t just based on the cost and revenue but also other external factors. Thus, market conditions play a crucial role in determining profitability therefore miners should be aware about changing regulations and market trends. As a result it remains prudent for an investor to evaluate all costs and revenue sources before venturing into mining activities due to external factors that may affect its success or failure. [/QUOTE]
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How profitable is cryptocurrency mining?
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