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Can you profit off Bitcoin Mining in 2018?

Lots of people are asking the question, “Is Bitcoin Mining Profitable in 2018?“ The answer is a complex one, because it depends on various factors. If you wonder whether it can be profitable, the answer is yes. However, it requires careful research, painstaking investment, and a great amount of effort. Let’s look into a few latest processors and check how profitable they are in 2018

Antminer S9

Let’s take a look at a the Antminer S9 mining rig. We previously looked at this ASIC mining rig.  It has a mining rate of 14 TH/s, and 1372W in power. As we previously saw, with this 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.

This would net you around 2632 Rand per month. In an year, you’re looking at a profit of 31,584, once you factor in the electricity payments you would have to make. If you get a cheap Antminer at around 43000 Rand, you’d break even in around 16 months, which is about a little more than an year.

However, with the value of Bitcoin rising 20 times in the past year, you’re looking at closer to 6 months, rather than 18 months

NVIDIA P-106 GPU

You can use these to mine Ethereum. This is slightly different from Bitcoin Mining.  The hashrate of these cards, when tested by our team, came out to about 20 MegaHash/s, and each card only took about 75W. If you use a rig consisting of eight of these, then the total Hashrate will be around 160 MegaHash/s for only 600W.

We calculated that we will have mined 0.01189 Ethereum per day and 0.3567 ethereum per month. That comes up to around 2900 Rand per month. The cost of the power to run this is around 400 Rand per month.

So we are left with a net profit of around 2500 Rand per month. If we add a few extra cards, we can easily increase our profit margin even more

Again, with Ethereum, rising in value, this is an excellent profit

Altcoins

Mining Altcoins in an alternative to mining Bitcoin in 2018. Today there are hundreds of Altcoins available on the market and some of them are still real easy to mine. The problem is that because there are so many Altcoins it’s hard to tell which ones are worth investing your time in. Some good examples for Altcoins are Litecoin, Dogecoin and Peercoin.

Conclusion

Bitcoin Mining is still profitable in 2018 in South Africa, and will continue to be. If you have money to invest, then the future of Crypto Currency is bright.

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