Crypto Mining in 2023 — Is It Still Worth It? See Market Talks
In this week’s episode of Market Talks, Cointelegraph welcomes Justin Kramer, CEO of Badgerland Home Crypto Mining and a long-time cryptocurrency investor. When he’s not tending to his own mining rigs, Kramer offers consulting services to home-based businesses and larger startups on how to set up mining farms.
We’ll kick things off with miner prices and how they’ve changed over the past few months. Have prices gone up or down and what kind of impact is Bitcoin (BTC) having on prices? Which miners are in the most demand right now, and who is buying them – small-scale miners or larger operations?
Mining that paid extremely high prices for mining rigs that are now worth not even close to the same amount, how are they doing in this market? What is their plan to recoup their investment? Is it a lost cause at this point since the prices of the coins they are currently mining aren’t as high as they used to be? Is it still worth it to pay the high electricity costs and continue mining?
US President Joe Biden recently announced a new budget that also includes a whopping 30% tax on electricity used for cryptocurrency mining. We ask Kramer for his thoughts on this and exactly what the details are in this new treasure. Could this be an attack on crypto?
Are miners gravitating more towards altcoin miners at this point because they might be able to earn more compared to Bitcoin mining? We ask Kramer if this is true, and if so, what is the reason behind it?
How profitable is it to mine Kadena (KDA)? How much do the miners cost and also, is it worth anything to mine and hold Kadena? Is the network moving forward and enjoying itself?
We ask Kramer how he advises people who want to set up a mining farm, is it all Bitcoin miners or a certain percentage of Bitcoin miners and the rest are altcoin miners, and which miners does he recommend specifically?
How are things developing in the cloud-based mining and NFT-based mining sectors? Are they a good option for someone who may not have the space or resources needed to run a miner in their house or on their property? We also ask Kramer for the details of profit sharing and other expenses associated with this form of mining.
We’ll cover all of this and more, so be sure to tune in to the end because Cointelegraph Markets & Research will also be taking your questions and comments throughout the show, so be sure to have them ready to go.
Market Talks streams live every Thursday at 12:00 PM ET (5:00 PM UTC). Each week it features interviews with some of the most influential and inspiring people from the crypto and blockchain industry. So head over to Cointelegraph Markets & Research’s YouTube page and smash those Like and Subscribe buttons for all future videos and updates.