Last time, we talked about the profitability of GPU Mining. This time, we’ll look at the more traditional ASIC Mining, and see if it is still profitable as well.
Is ASIC Mining still profitable?
Short answer, yes. Long answer, it depends on a lot of factors.
The nice part about ASIC mining is that you can check whether what you’re doing is profitable or not, even before buying your processor, just like in GPU Mining. Once again, the Bitcoin Mining Calculator is your friend.
However, Bitcoins have become harder and harder to mine for various reasons. With more and more bitcoins discovered, the difficult has risen from 520,569,941 GH/s to the present record high of 1,426,731,353 GH/s. This is a tripling of difficulty in mining bitcoins. This is why ASIC Mining has seen a sharp decline
However, we have previously looked at the AntMiner S9. With a 14TH processing rate, you will be looking at mining around Ƀ 0.001070 per day. This would be around 120.47 South African Rand per day, at current exchange rates. The power cost for this would be around 32.91 Rand per day, and could be even lower, depending on your tariff.
As we showed last time, despite all the cost, you will break even in about an year, which shows that ASIC mining is still very profitable, as good equipment can last years.
ASIC Mining or GPU Mining?
This depends on how much you can invest initially. While powerful ASICS can still lead to vast profits, they cost huge amounts upfront. The Antminer is a decent product for ASIC Mining, but you are more likely to get higher profits using something like the NVIDIA P-106. This is because the initial cost will be lower, as you are buying 8 for the cost of one. It’s also because Altcoins like Ethereum rise in value much faster than Bitcoins, so are much more profitable in the long and short run.
However, since Bitcoins are the most stable crypto currency, ASIC Mining is still very viable. Bitcoins have steadily increased in value for years now, and barring all 21 million Bitcoins being discovered, the value will continue to rise. Thus, we will know when the value will start becoming a bit more constant, and that is why mining with ASICS will always be a very safe way to mine.
We would recommend GPU mining if you have a smaller budget, but if you can afford it, ASIC Mining is definitely a safe and profitable endeavour. It depends on the market, like most things, but it is the safest investment if you buy a good quality ASIC Mining Rig.