BTC Mining July 2023 - Update

BTC Mining July 2023 - Update

• Previous Article
• Mining on older machines - Update
• Is BTC mining profitable or worth it?
• WhattoMine
• Using my Stock Market Brokerage Account.

Previous Article

On May 25, I wrote this about BTC mining. Since that time, RIOT, GBTC and ETH have moved up. My long-dated CALL options are showing a profit.

Mining on older machines - Update

Nothing has changed in this area. Miners generally buy a machine to mine BTC. However, many small miners have high-end graphic cards (GPU) on gaming machines. While the processing power gets smaller relative to the Total Hash, I was surprised that my average BTC being mined is about $.60-.70 per day.

Back in May, it was between $.50-.60 per day. This means the underlying assets increased in value, and my total output decreased.

The value of each "Satoshi" increased, impacting my daily mining earnings.

Is BTC mining profitable or worth it?

Is it worth it? I would NOT buy equipment to get into MINING BTC. But if you have a high-end gaming PC for other purposes, it is just a byproduct of owning a PC. My kids have gaming desktop PC, so it makes sense to MINE on those PC. Since September 2022, when ETH moved to PoS from PoW, this has been true. Mining was 3x or 4x more profitable when ETHER still used Proof-of-Work (Before Sept 2022).

Big owners with millions of dollars are still buying S19 and other newer ASIC machines to mine. GPU mining should never disappear, as it is an excellent way to keep regular PC users engaged in this new industry. If you have skin in the game, it makes learning much quicker.

WhattoMine

One of the most common questions is "What do you mine with your GPU"? Most people can see that information on a website that has compiled the best coin to mine for that GPU.

Some folks don't care and mine the COIN they want. The danger of doing that is I can have 100s or 1000s of coins that never moved, and/or the value went to zero. I mined PASCAL coin (PASC) a few years ago and would have been better off mining BTC or ETH.

Using my Stock Market Brokerage Account.

Here is an update on some of my holdings. The value has been moving up.

There is a risk with all crypto. Make sure you understand:

• all assets can be worth ZERO!
• all assets can be stolen, get the rug pulled, or turn useless.
• store on a hardware wallet (online).

None of this is financial advice. I'm only showing what I am doing and my position today. While I have no idea what the future holds, I'm taking a bullish position on BITCOIN. If Bitcoin continues to do well in 2023-2024, my holdings should increase in value.

Have a profitable day,
Solving-Chaos