Crypto mining in 2023 — Is it still worth it? Watch 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 is not attending to his own mining rigs, Kramer provides consultation services to home-based operations and larger startups on how to set up mining farms.
We start things off with miner prices and how they have changed in the last few months. Have the prices gone up or down, and what kind of impact does Bitcoin (BTC) have on prices? Which miners are the most in-demand right now, and who is buying them — small-scale miners or larger operations?
Mining operations that paid extremely high prices for mining rigs, which are now not worth even close to the same amount, how are they managing in this market? What is their plan for getting their investments back? Is it a lost cause at this point since the prices of the coins they currently mine are not as high as they used to be? Is it still worth it to pay those high electricity costs and keep mining?
United States President Joe Biden announced a new budget recently that also includes a whooping 30% tax on the electricity used for cryptocurrency mining operations. We ask Kramer for his thoughts on this and what exactly the details are of this new tax. Could this be an attack on crypto?
Are miners gravitating more toward altcoin miners at this point because they might be able to make more of a profit as 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 innovating?
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 might 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 about profit sharing and other expenses involved in this form of mining.
We cover all this and more, so make sure to stay tuned until 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.
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