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[AudraMiller]

There are many companies that are focused on the mining of bitcoin and this has become a very lucrative industry to get involved in, especially if we look at how much the price of bitcoin has increased, thereby making mining even more profitable than it previously was. In a recent news article it seems that the Genesis Digital Assets company, has received a massive amount of funding amounting to around 431 million dollars, which they are planning to use in order to expand its mining facility into bitcoin. What are your thoughts on this?

 

[Niftyicon]

I have also observed the influx of funds from institutions into bitcoin mining and it just leaves one to wonder which is more profitable, hodling or mining Bitcoin?

 

[Chibson]

I have also observed the influx of funds from institutions into bitcoin mining and it just leaves one to wonder which is more profitable, hodling or mining Bitcoin?

I have noticed the same thing too. It seems that Bitcoin mining is now very much more lucrative than hodling. A lot of big institutions are now investing heavily on Bitcoin mining on daily basis.

 

[Niftyicon]

I have noticed the same thing too. It seems that Bitcoin mining is now very much more lucrative than hodling. A lot of big institutions are now investing heavily on Bitcoin mining on daily basis.

Could it be that the more difficult bitcoin mining is getting which consequently means more profits, the more attracted those big guns are to mining activities?

 

[Mariappa45]

Genesis mining have been in existence for years, they are one of the few legit mining rig company in the digital ecosystem rewarding investors long term investment.

 

[Brain]

I have also observed the influx of funds from institutions into bitcoin mining and it just leaves one to wonder which is more profitable, hodling or mining Bitcoin?

Yeah from the recent news I have come across I think people are really putting money into the crypto world. For your question I believe mining Bitcoin is more profitable than holding it

 

[AudraMiller]

THe mining business is facing so many problem right now, the biggest one is the cost of electrity that it will raise every year that pass, the second biggest ona is the governments regulation on the matters, a good example is china, the 60% of mining company where placed in China. So now i'm really curios to see what will happen.
For sure mining business is not lucrative has it was on the past years...

The electricity charges are a major concern because that will affect the profitability of mining. There re some countries whose energy costs are too high to even support a mining rig in the first place.

 

[Wisdom01]

Good to see them put more interest in cryptocurrency mining ,it's going to fetch them more revenue as they would make profit off the mining project they are launching

 

[LutherKing]

Its a big company and surely this will help them growth and their assets will rise as well in the long teem to he honest actually

 

[microunit]

Isn't genesis mining one of the pioneers in bitcoin mining and one of the long running mining companies though? good to see that they are continuing to expand

 

[Ononivami1]

Creation of mining facility would increase the hashrate which would inturn cause a spike in the price of cryptocurrency.

 

[ahsan510]

People now are showing more interest in cryptocurrency especially bitcoin. Bitcoin has been on top throughout this year and its worth and volume double. Bitcoin has been introduced and many countries are trading in cryptocurrency. There are different platforms emerge in the world.

 

[Flower]

The major reason for the increase on the bitcoin mining activities is the attractive profit attached to it , most especially if the electricity used is cheap.

 

[LutherKing]

Yes you're right most of the companies have that thing in mind and is actually a good way to attract investors as well to be honest actually on my opinion .

 

[Emmanuel24]

Since Bitcoin mining is lucrative than Bitcoin holding then it's a good idea to fund more in Bitcoin mining. After all, most people live to deal with something that can make them a millionaire without stressing

 

[Balint098]

Have they decided to expand or not? Even though bitcoin mining can be lucrative at a time, it's also risky due to instable price movement.

 

[Wisdom01]

Since Bitcoin mining is lucrative than Bitcoin holding then it's a good idea to fund more in Bitcoin mining. After all, most people live to deal with something that can make them a millionaire without stressing

I think when the two is looked on ,I think Bitcoin trading is very much risky ,this is probably why so many investors are only just interested in mining

 

[AudraMiller]

Have they decided to expand or not? Even though bitcoin mining can be lucrative at a time, it's also risky due to instable price movement.

That is true, however i think that the profits that are made during the high price stages are often enough to more than make up for the price drops that you see over the course of the year.

 

[Ononivami1]

Since Bitcoin mining is lucrative than Bitcoin holding then it's a good idea to fund more in Bitcoin mining. After all, most people live to deal with something that can make them a millionaire without stressing

It is very certain that bitcoin mining is a very lucrative business. The only setback is that the profitability is unstable. This is due to it volatile nature.

 

[Emmanuel24]

It is very certain that bitcoin mining is a very lucrative business. The only setback is that the profitability is unstable. This is due to it volatile nature.

That's definitely true but the probability of making profit at the end is there which is why many companies love to dwell in the business of it is currently trending