What Robots are Used for Bitcoin Mining Abroad? (Can Bitcoin Mining Machines Make Money?)

In the field of cryptocurrency, mining is a relatively new concept, but it is actually a niche industry. According to recent research reports from the blockchain data website bitinfocharts.com, the total revenue of Bitcoin mining industry in 2019 was about 1.3 billion US dollars – which is the sum of all industries at present. Excluding device manufacturers, producing more than 10,000 machines a year can generate profits of approximately 60 to 80 million US dollars. However, for those who want to mine or trade, this figure may be much lower than the hardware they need. However, it is not easy to mine a new coin, and the mined coin requires a corresponding cost to ensure its security, stability, and reasonable use. Therefore, when we combine this technology with mining, it means that we can sell these things to others to make money. (Of course, there are also different methods) In order to obtain the computing power required for Bitcoin, people will choose companies that can help them work with less workload to operate their servers and provide services. Although many companies usually operate their own nodes from the beginning, but due to the concentration of most companies’ employees in one location, not many companies can afford such risks. For example, the head of a large software development factory in the United States may have to close the business for some reason, thus plunging the entire industry into crisis. With more and more investors entering this market, the demand for the network is also increasing. For example, MicroStrategy has launched the world’s first listed company with sustainable energy, MicroBT. Besides MicroStrategy, many companies are investing in mining equipment and other products to support the growth of this industry.

Can Bitcoin mining machines make money?

Editor’s note: This article is from Lianneican (ID: lianneican), Author: Neican Jun, authorized by Odaily Star Daily for reproduction.

Mining is not only a commercial activity, but also an economic behavior,” said Brian Armstrong, CEO of mining pool operator CoinGeek, to Decrypt. He said, “If you are a chip design company, do you know how to extract a large amount of data from your computer?” he explained. “This is a very complex process that involves a lot of computational resources. I think this helps to determine if your ASIC can operate under specific conditions while ensuring that our algorithm is reliable enough.” However, experts have also predicted that the profitability of Bitcoin mining machines is limited. In fact, most of the revenue in 2017 was obtained through mining, when only a few participants were willing to mine BTC, and most of them were small-scale retail miners using these funds for mining.