Bitcoin Mining Experiment Yields Surprising Results
A YouTuber known as Financial Wolf embarked on an extensive experiment to find the most profitable Bitcoin mining setup. He began in 2020, starting with a basic desktop computer given to him by his dad.
After testing various setups, including tiny lottery miners that tried to find a block of Bitcoin by themselves, he found that they were essentially nerdy lottery tickets. The odds of finding a block were extremely low, and even the more expensive versions cost around $200 in electricity per year.
Financial Wolf then spent $5,000 on two S19 Pro mining machines, which mined 0.23638 BTC over 1,232 days. However, after adding up costs, he lost around $20.89.
The YouTuber concluded that the most profitable option is to simply buy Bitcoin and dollar-cost average into it, especially for those without free or extremely cheap electricity, tax advantages, or a way to use the heat generated by the machines.