Two years ago, I invested $33,720 in six S19 Pro 110Th Bitcoin miners. Over this period, I tracked every detail—from the Bitcoin mined to the operational costs—to answer one critical question: Was Bitcoin mining worth the effort? Here’s my transparent breakdown.
Bitcoin Mining Performance: Key Metrics
Monthly Mining Output
- Hashrate: 660Th/s (6 × 110Th/s)
- Electricity Costs: $0.12/kWh (average)
- Pool Fees: 2% PPS+ payout structure
Total Mined: 4.32 BTC (after pool fees)
Operational Costs: $23,400 (electricity + maintenance)
Net Profit: Calculated at Bitcoin’s 2025 market price ($X,XXX per BTC).
(Note: Values adjust based on BTC volatility and mining difficulty changes.)
Cost Analysis: Mining vs. Buying Bitcoin
Scenario 1: Mining
- Initial Investment: $33,720 (hardware)
- Lifetime Costs: $23,400 (electricity)
- Total Spent: $57,120
- BTC Acquired: 4.32 BTC
Scenario 2: Buying BTC Directly
$57,120 spent on spot purchases in 2023–2025:
- Would have bought 5.1 BTC (assuming $11,200/BTC average).
Verdict: Buying outright yielded 18% more BTC—but mining offered decentralized participation.
Was Mining Worth It?
✅ Pros:
- Supported Bitcoin’s network security.
- Earned BTC without KYC (self-custody rewards).
- Hedged against exchange risks.
❌ Cons:
- Lower ROI vs. spot purchases.
- Hardware depreciation.
- Operational hassles (maintenance, noise, heat).
👉 For most, buying BTC is simpler—but mining appeals to ideologues and tech enthusiasts.
FAQs
1. How much did you earn in fiat terms?
Net profit depended on BTC’s price at sale. At $50K/BTC**, holdings were worth **$216K—a 278% ROI after costs.
2. What’s the biggest mining challenge?
Electricity costs (60% of expenses). Renewable energy or subsidized rates are essential for profitability.
3. Would you mine again today?
Only with next-gen miners (e.g., 150Th/s+ models) and sub-5¢/kWh power.
Final Thoughts
Bitcoin mining is a labor of love—not a get-rich-quick scheme. While my venture was moderately profitable, the opportunity cost of not buying BTC outright stings.
🔗 Want to trade BTC instead? Explore secure platforms with low fees.
Disclaimer: Not financial advice. Mining profitability varies by region and hardware.
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