HODL Or Mining: Is Bitcoin Mining Worth It ????

The cryptocurrency community is divided into three camps: traders, long-term investors, and miners. This article discusses whether mining is still profitable in 2022.

What is Bitcoin Mining?

Bitcoin miners solve complex math problems using the Proof-of-Work algorithm to validate and verify transactions, receiving fees in BTC.

The Bitcoin Halving

Bitcoin halving occurs every four years, reducing miner rewards by 50%.

Bitcoin Mining Throughout the Years

Bitcoin mining was initially done on personal computers, but ASIC-powered computers made them obsolete. This raised the bar and made expenses high, leading to the emergence of large mining centers and increased hash rate.

Bitcoin Mining Distribution

China's ban on mining led to a drop in hash rate, but the network recovered quickly. AntPool is the biggest known pool, but a large percentage of hash rate is unknown. Bitcoin is resilient and has no central authority that can shut it down. $XRP $BTC $ETH