Difference between Bitcoin home mining and cloud mining② [Cost]
This time, I would like to talk about the differences between home mining and cloud mining in terms of cost.
Costs of Home Mining
Various costs are involved. Here are the representative ones.
First, as an initial cost,purchase of the latest equipment.
For example, the famous Antminer bitmain s9 (currently the latest in the market)
If you purchase this on Amazon, the current market price is200,000 yen.
If you want to improve your odds,you will buy and run multiple units.
Also,the largest running cost is electricity.
Bitcoin is issued relentlessly every 10 minutes, so the more you run, the higher your chances of winning the competition.
If you keep it running all the time, electricity costs will accrue.
Furthermore, the equipment gets very hot, soyou must cool it to prevent fires and malfunctions.
In that case, cooling also consumes electricity.
Especially in Japan, which is a hot country, cooling costs electricity.
Moreover,Japan has among the highest electricity costs in the world.
Probably, electricity costs will be the main concern when mining.
By the way, if you were not in Japan but in a cold place like Iceland with cheap electricity, there would be potential.
In addition,maintenance costs for the equipment are also incurred,updating equipment,and keeping up with the latest machines to stay competitive in mining, which also adds costs
Costs of Cloud Mining
In cloud mining, you payonly the investment to the mining provider.
In other words,only the initial cost. The more you invest, the larger the distribution, so the amount varies depending on how much payout you want.
The mining provider deducts the costs and pays the rewards, so it is very straightforward.
When looking only at costs, which is better
This isclearly cloud mining is better.
Especially if you mine in Japan, costs are too high.
Considering running costs, you may end up in a state where you cannot tell whether you are making a profit or not.
Mentally, the burden of running costs can be substantial.
Next time, I would like to discuss differences between home mining and cloud mining in terms of rewards and costs, but from other aspects.
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