In April 2024, BTC halving took place. The reward per one mined block decreased by 50% and now equals 3.125 BTC. This can make some people apprehensive about mining. They doubt whether this activity will be able to generate decent revenue for them. Based on our extensive expertise, we can assure you that mining can and should remain profitable after halving. In this article, we’ll tell you how to approach it in the most rational manner and which Bitcoin mining equipment to opt for.
Halvings have been taking place roughly every four years ever since the pioneering cryptocurrency was launched. That in 2024 was the fifth one. Throughout these years, the BTC price, market capitalization, and adoption have been steadily increasing. The popularity of mining has been growing too and new technologies have been developed to enhance the process.
The person or team behind Bitcoin came up with the notion of halving to control inflation and maintain the demand for the asset at a reasonable level. Bitcoin benefits from halvings and they by no means deprive miners of their rewards. The asset’s scarcity boosts its price — this rule proves to be relevant after each having. That’s why it’s a great idea to go on or start mining right now.
To earn money on mining BTC after the halving in 2024, you should:
Opt for a Bitcoin mining machine of the latest generation
Cut down expenses
Find a reliable Bitcoin miner hosting provider
Let’s clarify these points.
One of the top mining solutions on the market today is the Antminer 21 series. It boasts an impressive hash rate, coupled with relatively modest power consumption. The difference from the ASICs of the previous generations is drastic. Its manufacturer, Bitmain, is one of the household names in the industry. It’s a trustworthy brand with an exceptionally strong team, one of the firm favorites among crypto professionals.
To maximize your income, you may want to purchase several devices and join them into a Bitcoin mining farm. However, your upfront expenses can become prohibitive in this case. Besides, you’ll need to find space to place your hardware. In addition to consuming large amounts of energy, it will generate a loud noise. To avoid the noise, you can consider ASICs with a water-cooling system — but they cost even more than their traditional counterparts.
To cut down expenses, you can rent Bitcoin miner instead of purchasing it. Remote providers can afford to invest in the most advanced ASICs. You’ll be able to choose one or several machines whose characteristics suit you. The provider will set up, maintain, and repair the rig, relying on the skills and knowledge of its qualified staff. Your involvement will be minimal and you won’t have to deal with the technical aspects yourself. It will be a genuine passive income for you.
Another possible option is to try cloud mining. It’s a more modern and affordable alternative to renting the rig. You’ll be renting the machine’s hashing power. You purchase a contract on the conditions that suit you best. After that, your task boils down to regularly transferring the fee to the provider — and they will be in charge of everything else. You’ll be able to make a revenue thanks to the BTC price growth. To earn more, consider buying more contracts.
Every halving poses a challenge to Bitcoin mining companies. They have to adjust their strategies and activities. Some of them fail to cope with this task and shut down. That’s why it’s important to check for how long the provider has been around — the longer the better. The second crucial parameter is customer reviews. It’s ok if a handful of them are negative but the majority should be positive. A good provider should be transparent about the terms of its contracts. Its support team should be polite, knowledgeable, and prompt in attending to its clients.
ECOS ticks all the boxes of a top-notch provider. It’s based in a free economic zone in Armenia, where cryptocurrencies are legal and miners are exempt from taxes for 25 years. The Hrazdan power plant grants stable access to cheap energy. The territory where the equipment is located is protected by armed guards. The downtime of the equipment is close to zero. In case anything breaks down, the technicians will fix the rig promptly and right on the spot, without the need to send your ASIC to its manufacturer’s service center.
ECOS enables you to select the best cloud mining contract from the existing variants or design a custom one. If you’d like to rent or buy the equipment, the range of the available options will be wide as well. Clients love ECOS for its transparency, sensible prices, and five-star customer service. It’s an ideal provider for entry-level miners who are making their first steps in this exciting niche. Experienced miners value ECOS for its outstanding reliability, honesty, and punctual payouts.
To back the theory that we have provided, let’s consider the real-life case of a client of the ECOS provider. His nickname is anto******duate.org.
Right after the previous halving in 2020, he purchased the Antminer T17 for $699. The hashing power of this ASIC Bitcoin miner was 38Th/s. Four years ago, it was considered an advanced machine that set the benchmark for its niche.
From November 25, 2020 to November 1, 2021, anto******duate.org made 0,08026213 BTC with Antminer T17, which equalled $5,327. His expenses for the hosting services and maintenance didn’t exceed $1,080. His net profit amounted to $3,548. Mining turned out to be more profitable for him than buying Bitcoin. If he had preferred to buy BTC, his profit would be no more than $2,900.
To assess your upcoming expenses and profit, you can rely on the calculator on the ECOS website. Hopefully, with the help of this tool, you’ll see that BTC mining after halving can be a lucrative activity!
