Profitable Bitcoin Mining in 2018? Not If You Do It This Way
The days when you could mine bitcoin profitably at home are fast coming to an end. Large investors with the buying power to get cut-rate prices on top-of-the-line, specialized equipment are busy cutting deals with energy providers in countries like Sweden and Iceland that will sideline most small-scale miners.
The price of electricity is the main factor that determines the profitability of bitcoin mining. If you have access to free or ultra-low-cost electricity, you just might still be able to mine profitably at home, provided you are able to get the hardware you need at an affordable price and keep it running without too many breakdowns. But for the vast majority of people, that will just not be the case.
Getting top-of-the-line equipment and electricity at prices low enough to make mining profitable is fast becoming the sole domain of large investors.
That’s where Miner One comes in.
“Our goal is to take community mining to the next level,” says Miner One CEO Pranas Slusnys, who has decades of experience in building and managing data centres:
“Miner One is not a pool and Miner One is not a cloud. Our approach is different. We put community first and leverage the power of that community to get those same great deals on technology and electricity that will make mining profitable. And we are sharing the benefits equitably. Unlike other mining companies, we only make money if everyone makes money.”
Miner One, according to Slusnys, will be the world’s biggest crowdfunded mining centre. Miner One output, minus electricity and maintenance, will be distributed to holders of Miner One’s MIO Tokens, which go on sale February 15. The facility will be upgraded on an ongoing basis to keep equipment on the cutting edge of mining technology.
“My team and I are industry professionals. We have done our homework, we’ve run the numbers, and we can see we have what it takes to make Miner One profitable for the entire community,” says Slusnys.
For more information, read the Miner One Whitepaper: www.minerone.io
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