How Much It Costs To Mine For Cryptocurrency

Mining for cryptocurrencies like bitcoin, ether, and dogecoin isn’t as lucrative as it used to be. Here’s a look at how to do it and why small-time miners are being driven out of business. Bitcoin topped $58,000 in February for the first time. Ether, the world’s second-biggest cryptocurrency, has also hit record highs this year. Even dogecoin — a cryptocurrency invented as a joke that does not have the same serious function and institutional backing as bitcoin — surged more than 50% in the last month after a tweet from Tesla CEO Elon Musk.

It is easier than ever to buy a small fraction of one bitcoin using an app such as Coinbase. However, that’s not the only way investors can get their hands on cryptocurrency.

Investors can also mine for the digital currency. Before the Covid-19 pandemic started, CNBC went to a blockchain production studio in Brooklyn to learn how to mine for bitcoin’s biggest rival, ether.

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How Much It Costs To Mine For Cryptocash

50 Comments

  1. Bhuvanesh s.k on March 14, 2021 at 10:29 pm

    U should have explored hardware other than GPUs… Like ASICs & FPGAs

  2. DigitalMadrigal on March 14, 2021 at 10:30 pm

    Today’s youth talk about environmental issues a bunch. Though they seem to think that computers and phones don’t run on fossil fuels. They most certainly do. Their children will call them hipocrites over this and it will be well deserved. ( I’m in my late forties.)

  3. Berry Rose on March 14, 2021 at 10:34 pm

    Since when I have been dealing with 247immediately on I,G I have never been disappoint in their service

  4. J.K.F. on March 14, 2021 at 10:37 pm

    And now 1 bitcoin is $60,0000 ? A game ? I see people loosing their butts on this.

  5. TheGrays on March 14, 2021 at 10:38 pm

    So you started doing the math and then when it got to cost of electricity you didn’t even give one example of cost to mine….. so I just watched an 8 minute video for nothing. AND YOU DIDN’T EVEN ANSWER THE QUESTION OF YOUR OWN VIDEO TITLE! Joke.

  6. Richard Joseph on March 14, 2021 at 10:38 pm

    I’m humble and appreciative of all you’ve done for my son school bills… Really did went a long way 247immediately on !G you are the best

  7. zombie killa on March 14, 2021 at 10:39 pm

    POW is a horrible nightmare, coins like PiVX, run on a roghly 2000 RasperyPi PCs. Bitcoins Hashrate can be eradicated by the chinese Government in a blink of an eye, just track the highest energy consumer and shutdown his Rigs

  8. Daniel Groenewald on March 14, 2021 at 10:40 pm

    Dogecoin is not a joke, outraged noises

  9. Reality Check on March 14, 2021 at 10:41 pm

    Could you next time hire a reporter that does not look like a freak?

  10. blessing Banks on March 14, 2021 at 10:42 pm

    Hello, I’m new to bitcoin and I have been making huge losses but I recently see a lot of people earning from it. Can someone please tell me what i’m doing wrong

  11. Gelijk Jatoch on March 14, 2021 at 10:42 pm

    As less then you can and as much as you want.

  12. Gay Owl on March 14, 2021 at 10:42 pm

    Listening to CNBC is like Listening to SATAN preaching the 10 commandments.

  13. sots_ 666 on March 14, 2021 at 10:43 pm

    These are the greedy morons who think they will get rich by hoarding our gaming cards! So they have caused massive inflation of pc parts and artificially destroyed supply of gpus. Can’t wait for the crypto fraud bubble to burst! Losers.

  14. 20UEI010 ESHITA BHATTACHARJEE on March 14, 2021 at 10:44 pm

    Problem is, if they sell it. The price will go down drastically….

  15. Stella Cruz on March 14, 2021 at 10:45 pm

    i make huge profits on my investment since i started trading with Mrs Sonia dickson, her trading startegies are
    top notch .

  16. Izuchukwu Madukwe on March 14, 2021 at 10:45 pm

    *I CAN’T JUST IMAGINE LIFE WITHOUT YOU KEV_MINICKS ON !G*

  17. Sandeep on March 14, 2021 at 10:45 pm

    Its not Afganistan, is all in one country China which holds 60% of mining power

  18. Lima Adriana on March 14, 2021 at 10:46 pm

    Bitcoin is the most profitable investment online if only you trade with a professional broker

  19. Gajfbxifbdbskd on March 14, 2021 at 10:46 pm

    DOGECOIN!!

  20. Chlo ea on March 14, 2021 at 10:47 pm

    _PURPOSEHACK•TECH_ *MANAGE TO GO ABOVE AND BEYOND FOR EVERY PIECE OF THE JOB THEY DO. GREAT WORK 🥰*

  21. Amelia Calvin on March 14, 2021 at 10:53 pm

    Bitcoin is presently at $60,000 on its way to $100,000 and this is worth more than gold. Lol I I’m really so happy right now I just got additional $70,000 added to my money and the best part is that I get all my profit on my bank app as cash. Luiz is really amazing ever since I started investing with his broker service I have been smiling and never had any reason to doubt him or bitcoin

  22. Leaving Hopes on March 14, 2021 at 10:53 pm

    Konspirasi pabrik VGA ini mah biar laku kwkwkwkw

  23. Bullitt741 on March 14, 2021 at 10:54 pm

    Great Video ✅From the look of things and according to experts in the crypto space. This period the perfect time to buy the dip and accumulate irrespective of the bulls being under pressure. Bitcoin moving up is inevitable and would see the price of bitcoin surpass it’s all-time highs. The reversal was imminent because obviously, the bitcoin market needed a correction to gather the right momentum to give the bulls more steam and this just makes it the perfect time to invest and accumulate as much as possible. As an Investor, i have come to understand that you can make profit daily by involving in day trading your coins or copying trade alerts from a professional trader as i have been doing with Mr Benjamin Aldrich for the past 8 weeks now and i have been able to turn my 0.7 btc to 4.8 btc which you all traders/investors will see that it is always profitable to day trade your coins rather than Hold or as a newbie, you can buy the dip now and day trade to make profit before the market Sky Rocket 🚀 Mr Benjamin Aldrich has 89% trades accuracy and is always able to give a helping hand to newbies. He can be contacted via +4478-6871-4959 and Telegram: @ Ben_Aldrich*

  24. mike bar on March 14, 2021 at 10:59 pm

    How exactly is a graphics card helping? Just wondering

  25. Bit coin on March 14, 2021 at 11:00 pm

    Bitcoin not cryptocurrency

  26. Bit coin on March 14, 2021 at 11:05 pm

    “Unlike bitcoin the supply is endless” yes that’s the point 😂

  27. tikslolo on March 14, 2021 at 11:06 pm

    Cries in 3080

  28. Kent Phil on March 14, 2021 at 11:07 pm

    Crypto is the future to the financial industry

  29. Doggo Willink on March 14, 2021 at 11:08 pm

    ADA isn’t even on coinbase, did they just transfer it there? That’s weird.

  30. Eduardo Cisneros on March 14, 2021 at 11:08 pm

    And because of this PC gaming has become a challenge due to miners, thanks a lot assholes I just want to buy a non scalper priced GPU 😒😒

  31. Awlia Fadhli on March 14, 2021 at 11:10 pm

    $550 a month, thats not bat at all.

  32. Merry Maurader on March 14, 2021 at 11:11 pm

    $62k wt*

  33. nadi liba on March 14, 2021 at 11:12 pm

    *I’M GLAD I WORKED WITH KEV_MINICKS ON !G*

  34. Heiko Datchi on March 14, 2021 at 11:12 pm

    You know it’s a bubble when the elevator guy is giving you stock tips

  35. mook investmnent trading platform on March 14, 2021 at 11:13 pm

    great video

  36. Richard Joseph on March 14, 2021 at 11:13 pm

    I’m humble and appreciative of all you’ve done for my son school bills… Really did went a long way 247immediately on !G you are the best

  37. Assassin 6322 on March 14, 2021 at 11:15 pm

    Its only 1400 because there’s a GPU shortage

  38. paulczar on March 14, 2021 at 11:15 pm

    Wtf is crypto-cash? Been in crypto for 5 years.. never heard of it.

  39. Michael Clems on March 14, 2021 at 11:17 pm

    People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in bitcoin

  40. Mary peace on March 14, 2021 at 11:17 pm

    Hackervir on instagram got the best platform and gave me hope for the new house

  41. Nicole James on March 14, 2021 at 11:18 pm

    Tested and trusted, 247immediately on !!!!!!nsta you are such a great man.

  42. lee macdonald on March 14, 2021 at 11:18 pm

    This is not going to end well.

  43. Doggo Willink on March 14, 2021 at 11:19 pm

    The reason there is no case isn’t for cooling, you can have a case, with fans obviously, that works just fine. In fact you can water cool your GPU and the airflow then is a minimal issue in the case (for the GPU anyway).

    The actual reason they have a little open frame is because it’s easier and cheaper. You can upgrade or expand the rig easily, a case is a detriment in terms of future proofing and cost. Most mining rigs have multiple GPUs, so if you have a frame like that you can add more easily. Gaming cases and other cases do not have space for that many cards or boards, and would get in your way. Its not for cooling.

    You’d think a miner would know that. I don’t even mine, but I’d bet my ethereum that I’m generally correct here.

  44. john milton on March 14, 2021 at 11:19 pm

    Investing in bitcoin is very profitable this days especially when your account is being managed by a legit broker

  45. Mary peace on March 14, 2021 at 11:20 pm

    Hackervir on instagram got the best platform and gave me hope for the new house

  46. Straight Busta on March 14, 2021 at 11:21 pm

    Do not fall for any of the comments!! Any comment saying they made money with so and so trader is fake! Including the replies! Be warned!

  47. Hadi Mehdi on March 14, 2021 at 11:21 pm

    If the supply is endless , why crypto currencies prices are going up? Doesn’t make sens with the supply and demand law.

  48. Nicole James on March 14, 2021 at 11:22 pm

    Tested and trusted, 247immediately on !!!!!!nsta you are such a great man.

  49. S D on March 14, 2021 at 11:24 pm

    I wish Nvidia would split its production so there are dedicates mining cards and gaming cards, so they each can get a decent supply. There must be a way a graphics card can be streamlined just for bitcoin mining?

  50. Berry Rose on March 14, 2021 at 11:27 pm

    Since when I have been dealing with 247immediately on I,G I have never been disappoint in their service

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