The #BitcoinMiner faction is getting restless as #electricity prices continue to rise inexorably and energy prices see no end to the upside. How will #cryptomining continue in #Europe and the surrounding countries? Do you have #Miner and don’t know what to do with it?
In the following lines you will find out what alternatives there are for you as a miner or new investor.
Is #BitcoinMining worth it in Europe?
Smart IT Alliance GmbH
If you have alternative power sources (#photovoltaics, #wind energy, #hydropower) and are not tied to the local electricity price, then bitcoin mining is worthwhile, no matter where in the world.
If you don’t have any alternative power sources, things will look different for you.
Because the electricity prices are climbing to unprecedented heights even in the surrounding cheaper EU regions. Electricity prices of more than 0.40 – 0.60 EUR/kWh are not uncommon and apparently never end.
Some entrepreneurs in Germany briefly had the hope that, due to the elimination of the EEG surcharge from July 1st, 2022, there could be a small sigh of relief. Unfortunately no, the prices keep going up.
Even with the new mining devices, such as the AntminerS19JPro or AntminerS19XP, pure “Bitcoin mining” is only worthwhile at humane prices of less than 0.12 EUR/kWh. The countless old miners require higher power output at significantly lower hash power, so that electricity prices of less than 0.08 EUR/kWh are required here.
Due to the sharp rise in electricity prices in the EU, bitcoin mining is no longer profitable.
Relocation of mining hardware
The really nice thing about crypto mining is that whether it’s a large mining farm or a small one, relocation can be done in a flash. It doesn’t matter whether the miners mine in a container or in a warehouse, take them to another location and continue. The location can be changed easily and is simple. The easiest way is to hire a #hoster to take care of all the reinstallation of the miners, so all you have to do is pack and ship your miners.
Moving from hoster to hoster
If your miners are with a hoster where the prices are also going to nirvana and your miners are suddenly bringing in significantly less income, switching is the sensible choice. Here you should read your hosting contract under which conditions you can exit early.
Of course, the #move costs some money, but a change can be much more profitable in the future.
What alternatives are there to bitcoin mining?
Of course, there is not only Bitcoin mining, but also #AltcoinMining. For example, #Ethereum, #EthereumClassic, #Dogecoin/#Litecoin or #Kadena can be mined. Of course, there are a variety of other coins that can be mined. The nice thing about it is that these devices generate significantly more returns per month than the classic Bitcoin miner.
A large number of altcoin miners convince with high hash performance and make the miner’s heart beat faster.
The #ETHMiner, which can also be switched to Ethereum Classic – #ETC, are currently the strongest choices: Antminer E9 and Yamitech YM-100.
Depending on the miner’s device and coin, your return can also be acceptable in Europe. Nevertheless, you can tend to remember that an electricity price below 0.13 EUR/kWh is best for your returns.
Which location do we recommend
We have been mining for several years and offer hosting slots for our customers.
Our recommendation reflects experience from various countries and our number 1 is very clear: USA
In terms of location security, energy prices, crypto friendliness and feasibility, the #USA are definitely unbeatable.
Our next sites are currently being developed and will be available from September/October 2022 and December 2022/January 2023.
Depending on requirements, we continue to expand and are regularly on site in order to be able to offer our customers a German standard.
If we have aroused your interest, please write to us or give us a call!