Ten years ago, all you needed was a reasonably powerful computer, a stable internet connection and the foresight of Nostradamus. These days, thanks to industrial bitcoin mining operations, it’s not such a level playing field and for a lot of people it makes more sense to simply buy some bitcoin on an exchange like Coinbase.

How do Bitcoin miners calculate their earnings?
You’ve probably heard the scare stories about Bitcoin mining’s energy consumption.

Mining

Regardless of whether the impact is overblown by the media, it’s a fact that the underlying cost of mining is the energy consumed. The revenue from mining has to outweigh those costs, plus the original investment into mining hardware, in order to be profitable.

Mining is Not the Best Way to get Bitcoins
If you think the above seems complex, we agree.

Mining Bitcoin is NOT the best way to get bitcoins. Buying Bitcoin is.

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