The Easiest Way to Mine Bitcoin in Crypto’s Golden Age
At the end of 2020 / start of 2021, Bitcoin completed its journey from monetary pariah to the hottest commodity in the world of finance. Traders and investors are flocking to what Goldman Sachs has called ‘digital gold’, but you don’t have to buy Bitcoin directly. Just like real gold, you can also get your hands on BTC through mining, which is fast becoming even more profitable than ever.
BTC mining outlook 2021
Bitcoin is created when dedicated computers compete to crack cryptographic codes on the blockchain, performing the work necessary for the secure decentralised digital ledger to function. For their trouble, miners are rewarded with a Bitcoin subsidy, usually a fraction of a BTC. Because only the first computer to crack a code gets the reward, miners must make a significant investment in powerful hardware and related electricity costs. This holds true whether it’s a souped-up home PC or a whole warehouse full of computers.
Still, miners worldwide are enjoying a healthy return on their investment as revenue from mining eclipses electricity bills. According to on-chain data from Coin Metrics, Bitcoin miners generated an estimated $692 million in revenue in December, up 33% from November. Publicly listed mining operations saw stock prices soar at the end of 2020. Shares in Riot Blockchain Inc., leapt more than 1,200% during last year, while Hut8, Canaan Creative and Marathon Patent Group saw theirs more than double. Across the board, these mining operations are buying up state-of-the-art hardware, with Marathon spending $170 million on 70,000 Antminers from Bitmain. For comparison, a single Antminer S19 Pro costs $9,000 or more.
Mining Bitcoin is best done sooner rather than later because there’s a fixed supply of coins, and mining rewards are reduced every four years. What’s impressive is that we’re seeing increasing interest in mining after the 2020 halving event, which cut mining rewards in, well, half. Even with the 50% reduction in BTC mining rewards, the actual value of each Bitcoin or part thereof has increased by so much, that it’s still more profitable than ever to mine your own.
With companies scrambling to stake their claims in the mining game, you might be forgiven for thinking that your opportunity to mine your own fortune has passed. But there’s an easy solution at your fingertips, and you don’t even have to buy any hardware.
Don’t miss out, activate cloud mining on StormGain!
Cloud mining is the practice of renting mining equipment, which sends you rewards in return for a fee. StormGain features this service but offers it as a completely free bonus for active StormGain users.
To mine crypto with StormGain, just log in to your account, open the Cloud Miner option and hit ‘Start Mining’ to connect to our cloud services. Don’t forget to click the Start Mining button every four hours to stay connected to the mines and earn BTC. As you’re logged in, you’ll make progress toward earning free Bitcoin. The mining rate varies, but even higher rewards can be earned by participating in the StormGain loyalty programme. If you haven’t activated StormGain cloud mining yet, register or log in here and enjoy free BTC rewards in addition to the best exchange rates and lowest fees in the crypto trading world.