Which is better, cloud mining or running as asic miner

Which is better, cloud mining or running as asic miner

While BigBangMiner has been working in the field of Cloud Mining, there has always been a concern from the audience that mining is better or Cloud Mining? In this article, we make a comparison between bitcoin mining with device and Cloud mining.

As we know, Cloud Mining is one of the most well-known investment plan that is highly regarded today by society. Because in the current economic situation, people are looking for a way to generate passive income that they can count on and get their monthly profit. The following describes each of the methods and compares them.

In order to answer the question, which one of mining or Cloud Mining is better, first we talk about what is Cloud Mining? Here is an example to better understand the issue. Suppose a farmer has a 5-hectare plot of land for cultivation. He sows part of his land for others to cover the current farm costs and be able to inject some money into his system, and receives money for it. It is also welcomed by investors. Because he has all the equipment, supplies, experience and knowledge he needs and is able to produce the best product at the lowest cost. Now, if we assume that this farm is a bitcoin farm, then the capacity of the miners will be the same as the amount of land for planting and bitcoin will also be the product of this crop. As a result, bitcoin farms lend some of their device capacity to subscribers and receive money to generate more working capital.

Cost of mining with device

In the following, there is an answer to the question of whether or not mining is better or Cloud Mining explains the costs of mining with the device. To make money from bitcoin, the first thought that comes to most people is to buy and operate a miner as much as their budget. This seems pretty straightforward. It is widely believed that the device is connected to electricity and the Internet and can easily reach their desired income. But the reality is that mining is not as easily thought of as mining, but at its own expense and hassle.

As we know, miner devices produce a lot of heat and noise. In addition, their power consumption is the most important cost of maintaining the equipment. Miner Maintenance costs include Miner Power Cost, Electricity Cost of Air Conditioning System, Internet, Networking Equipment, Repairs and if Keep Out of Home, CCTV Cost. In addition to all these hassles, the technical know-how for connecting the device to the mining pools and more importantly keeping the device connected to the grid are among the key issues with the mining device.

However, in cloud mining, there is no longer any mention of these costly upgrades to the miners, as the responsibility for maintaining the miners rests with the cloud mining service provider. The following is a better mining with device or Cloud Mining, you will learn more about mining details.

Fluctuation of device hash rate

To get the right answer, let’s examine the miner’s hash power fluctuation. Once you have connected your miner to the Pool network, you can get your device’s daily performance report from that pool’s interface. In this report you can see the daily reduction in the amount spent.

Since BigBangMiner also has extensive experience in equipping the farm, the capacity received from a Miner unit after two years of operating at the best maintenance is equivalent to 70% of the declared capacity of the Miner. This is for two reasons. One due to the high depreciation of the device and the other due to the Luck mining component. Since the size of each block in the Blockchain Network is a constant amount of about 1MB and each block is formed in 10 minutes, so as the number of miner increases, the chance of mining decreases and the profits decrease. As you can see in the table above, the daily decline rate fluctuates sharply and in some days it drops to Giga Hash! This means your device is working and your expenses are in place, but your income is nothing.

In the following, if you report the performance of your miner with a chart, you can see the fluctuations in a glance. Here’s a better idea of whether mining is better or Cloud Mining. Here is the mining output of an S9 end-of-year device. As you can see, during this 12 month period, only one day of output was equivalent to 14, and the rest of the day saw a sharp decline in revenue.

Comparison of Mining and Cloud Mining

So far it’s almost clear whether mining is better or Cloud Mining. But in this section we also intend to compare the mining with the device and the Cloud Mining. The following is a chart of this comparison that we have compared Bitcoin mining components for the device and Cloud mining. Assuming you buy a S9 Antminer for $800, after two years of operation, it will give us a bitcoin of 0.15 (if the device lasts up to two years and works). Now, if we reduce the cost of mining, the profit, if the price of bitcoin remains constant, is $-3300, which ultimately does not return the initial capital after two years. But with BigBangMiner’s 2-year subscription, with that same amount of capital, we get the equivalent of 0.3 Bitcoin, which we’ve profited $1650 from deducting maintenance and initial capital.

  Mining with Device(Antminer S9) BigBangMiner 2 years contract
Initial cost $800 $800
TH 14.5TH 20TH
Power Cost $2400
Maintenance Cost $1200 $1750
Damage and Repair $800
Cooling Cost $600
Total Expenses $5000 $1750
Stability of TH 70% 100%
Time of Operation 24 MONTHS 24 MONTHS
Bitcoin Income 0.15 BTC 0.3 BTC
Dollar Income $1700 $3400
Your Profit – $3300 + $1650
Conclusion

In this article, we attempted to provide an appropriate answer to the common concern of people, whether mining is better or Cloud Mining. Summary Comparison of Device Mining with Cloud Mining concludes that Cloud Mining will rid us of the hassle of device operating and have a much faster return on capital than the mining on your own.

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