In April 2024, the next Bitcoin halving took place. The reward for mining one block was reduced by 50% and is now 3.125 BTC. Due to this, some may begin to doubt mining — will this activity continue to bring in a decent income? Based on our extensive experience, we can confidently say that mining can and should remain profitable even after the halving. In this article, we will discuss how to organize Bitcoin mining most rationally and what equipment to choose for this.
Since the launch of the first cryptocurrency, its halving has occurred approximately every four years. In 2024, this happened for the fifth time. Throughout all these years, the price of BTC, its market capitalization, and audience have steadily increased. The popularity of mining is also growing, and new technologies are being developed to increase its efficiency.
The person or team behind Bitcoin came up with halving to control inflation and maintain demand for the coin. Halving benefits Bitcoin and in no way deprives miners of their well-deserved reward. The rarer the asset, the higher its value — this rule works after each halving. That’s why starting mining right now is an excellent idea.
To make money mining BTC after its halving in 2024, you need to:
Buy or rent the latest generation equipment
Reduce expenses
Find a reliable hosting provider
Let’s take a closer look at all these points.
Today, one of the best ASICs for mining Bitcoin is the Antminer 21 series. It stands out for its high hashing power combined with relatively modest energy consumption. The Antminer 21 significantly outperforms miners of previous generations. The manufacturer of this series, Bitmain, is one of the most well-known in the industry. This is a reliable brand with a very strong team, extremely popular among crypto professionals.
To increase revenue, you can purchase multiple devices and combine them into a mining farm. However, this may require too high initial costs. Additionally, you will need to find a place to host the equipment. It not only consumes a lot of energy but also makes a lot of noise. To reduce the noise level, you can buy ASICs with a water cooling system — but they are more expensive than regular ones.
To cut costs, you can rent a miner instead of buying it. Remote providers can afford the most modern ASICs. You will be able to choose one or several machines with suitable characteristics. The provider will take care of the installation, maintenance, and repair of the equipment. Their staff has all the necessary knowledge and skills. Your involvement in mining will be minimal, and you will be able to receive truly passive income.
Another option is to try cloud mining, a more modern and accessible alternative. You will be renting not an ASIC but hashing power. First, you will purchase a contract on the most comfortable terms for you. After that, your task will be reduced to regularly transferring the commission to the provider — and they will take care of everything else. You will start receiving income on the rise in the price of Bitcoin. If you want to increase your profits, you can buy multiple contracts.
Each halving forces mining providers to rethink their strategies and optimize their activities. Some of those who cannot cope with these tasks close down. That’s why it’s important to check the provider’s history — the longer they have been in business, the better.
The second important parameter is customer reviews. It’s not a problem if some of them are negative — the main thing is that the majority are positive. The contract terms of a good provider are detailed and transparent. The support service is polite, informed, and responds promptly to customer inquiries.
ECOS meets all the criteria of a first-class provider for remote mining. This company is located in the free economic zone of Armenia, where cryptocurrencies are legal, and miners are exempt from taxes for 25 years. The Razdan power plant provides stable access to cheap energy. The security of the territory where the equipment is located is guaranteed by armed guards. The equipment downtime is close to zero. If an ASIC breaks down, it will be promptly repaired on-site, without wasting time sending it to the manufacturer’s service center.
ECOS clients can choose a cloud mining contract from existing options or create their own, individual one. The selection of equipment rental or purchase options is also very large. Clients appreciate ECOS for its transparent terms, reasonable prices, and quality service. This is an ideal provider for beginner miners who are just taking their first steps in the industry. Experienced miners note the exceptional reliability of ECOS, honesty, and timely payment of rewards.
To confirm the above theory, let’s consider a real case of one of the ECOS clients. Let’s denote him by the nickname anto******duate.org.
Immediately after the previous halving in 2020, he bought an Antminer T17 for $699. The hashing speed of this miner was 38 terahashes per second. Four years ago, this model was considered advanced, one of the best on the market.
From November 25, 2020, to November 1, 2021, anto******duate.org earned 0.08026213 BTC with his Antminer T17, which in fiat currency amounted to $5,327. Hosting and miner maintenance costs were only $1,080. The client received a net profit of $3,548. Mining turned out to be a more profitable activity for him than buying bitcoins. If he had bought bitcoins, his profit would have been only $2,900.
To estimate your upcoming expenses and profits, you can use the calculator on the ECOS website. We hope that with the help of this tool, you will see that mining BTC can still be profitable even after the halving!
