In the world of cryptocurrency mining, profitability is often very hard to come by. Not only because it is so difficult to find something profitable for yourself, but also because of falling prices. Bitcoin’s recent decline has led to an interesting change in SHA-256 profitability, although it is obvious that these numbers will continue to shift in the coming days and weeks.
Bitcoin profitability questioned
There has been much discussion about what value Bitcoin needs to maintain in order for miners to make a profit. Reports suggest that this value is between $600 and $4,000. Therefore, the current Bitcoin price could make it less profitable for smaller operations to mine, while large companies may not necessarily notice this current trend.
Interestingly, Bitcoin is not currently the most profitable implementation of this currency. Although BTC mining is usually the most profitable in the first place, the situation seems to be slowly changing. Although this is not necessarily a situation that will remain for very long, one has to wonder how things will develop in the future.
Bitcoin Cash profitability increases
Just a few days ago, mining Bitcoin Cash would not have been the best option. It was 50% less profitable than mining Bitcoin, which usually remains the most profitable option to take at any given time. Nevertheless, things can change quite regularly, especially because the values of individual coins fluctuate regularly.
As of today, it is slightly more profitable to mine Bitcoin Cash compared to Bitcoin. This is remarkable for many different reasons. Although the price of Bitcoin Cash has lost another 18% overnight, it is 4.6% more profitable compared to mining Bitcoin. This figure won’t last long, but it would explain why the hashrate of BCH has increased so dramatically in the last hour or two.
Bitcoin Cash SV remains unprofitable
Not too many people are talking about mining Bitcoin Cash SV at the moment. The controversial fork introduced by Craig Wright, Calvin Ayre and nChain was far from the most profitable option. In fact, it was 300% less profitable than mining Bitcoin not so long ago. This further shows that this chain still has a lot of work to do in the first place, although it remains to be seen how this situation will change.
Despite the unprofitability, there is an improvement for Bitcoin Cash SV. It is now only 202.7% less profitable to mine BCHSV versus BTC, which is a nice improvement. It is still rather unlikely that a Bitcoin or Bitcoin Cash miner switch will happen in the near future, although one cannot deny the possibility either. The coming weeks will be very interesting to keep an eye on in this regard.
