Bitcoin mining profits are on the rise. But don’t buy your own hardware just yet

blockchain problems how to solve issues with the latest vogue tech topshot canada economy computer mining bitcoins
Lars Hagberg/Getty Images

Bitcoin mining isn’t anywhere near the money-making machine it was just over a year ago, but thanks to some larger players bowing out as profits fell, they have now begun to rise once again. Gross margins — the difference between earnings and the total cost of investment — rose to 39 percent in February, the first time it’s risen at all in well over a year.

It’s been a long time since mining Bitcoin yourself was a simple and profitable venture (although there are ways to do it). While the early days of the cryptocurrency saw people mine hundreds or thousands of Bitcoin with home computers, today if you aren’t investing hundreds of thousands in the latest hardware and have a plentiful supply of cheap electricity, you’re going nowhere fast. As The Next Web suggests, the adoption of new, more efficient technology is likely to be the driving force of Bitcoin’s mining resurgence, by forcing out older, less efficient hardware, as well as a relative stabilizing of the value of individual Bitcoins.

Despite Bitcoin’s value peaking in December 2017 (and falling dramatically since then) the hash rate, or the amount of computing power that’s attempting to mine the cryptocurrency, has risen more than threefold since. As profits from mining Bitcoin fell to low double digits in late 2018, the hash rate did fall by around a third. Over the past couple of months, however, it has begun to grow once again and mining profits for those still in the game have risen in kind, increasing seven percent throughout February.

This doesn’t guarantee that Bitcoin’s value won’t fluctuate massively in the weeks or months to come, as cryptocurrencies tend to do. But miner confidence appears to have returned in force, with the hash rate rising by more than 20 percent since the start of the year.

Even if Bitcoin’s value is far from certain, it is performing fantastically as a transactional currency. After a big drop off in early 2018, Bitcoin trades have only increased, reaching more than 350,000 transactions a day in early March.

Still wondering how “mining” relates to cryptocurrencies like Bitcoin? Our guide to Bitcoin mining has you covered.

Gaming

From PUBG to Apex Legends, this is how battle royale happened

Battle royale games like PlayerUnknown's Battlegrounds’ and Fortnite have become the biggest trend in video games. The genre is also pushing the envelope in Twitch streaming and eSports.
Social Media

New Zealand attack shows that as A.I. filters get smarter, so do violators

The shootings in Christchurch, New Zealand were livestreamed to social media, and while stats show networks are improving at removing offending videos, as the system improves, so do the violators' workarounds.
Computing

After fourth attack, hacker puts personal records of 26M people up for sale

A serial hacker going by the name of Gnosticplayers is selling the personal data of 26 million people who have been using the services of six different companies from across the world.
Cars

Automakers are spending billions on self-driving technology people are afraid of

Automakers are spending billions of dollars on developing the technology that will power self-driving cars, but research shows consumers have no interest in giving up control. Will they ever recoup their investment?
Computing

Confused about RSS? Don't be. Here's what it is and how to use it

What is an RSS feed, anyway? This traditional method of following online news is still plenty useful. Let's take a look at what RSS means, and what advantages it has in today's busy world.
Computing

Here are the best affordable monitors for your budget desktop

Looking for the best budget monitors? These monitors are affordable, but still provide the features you need for gaming, work, home or other plans! Take a look at the displays and your wallet will thank you.
Product Review

The Lenovo Legion Y740 brings RTX 2080 graphics power for under $2,500

Coming with the Intel Core i7-8750H processor, Nvidia GeForce RTX 2080 Max-Q graphics, 16GB of RAM, and a 256GB PCIe NVMe SSD, the Legion Y740 one big beast. But priced at under $2,500 how does Lenovo’s Legion stand up against the crowd?
Computing

This limited-time Dell deal cuts $330 off the price of the XPS 15

Dell is currently running a limited-time sale that is cutting the pricing on the XPS 15 down by $330, but only through Thursday, March 21, and with the use of a special coupon code. 
Mobile

Google hit with another fine by the EU, this time for $1.7 billion

Google has been fined for the third time by the EU, this time for breaching antitrust laws by requiring third-party websites using its search function to prioritize its ads over competitors.
Computing

If you have $5,200, Apple has 256GB of RAM for your iMac Pro

Professionals looking to run intensive applications will be able to push their work a bit further with Apple's latest iMac Pro, which holds 256GB of DD4 ECC RAM for $5,200. Here's why it costs so much to upgrade your iMac Pro to the top.
Computing

Don’t be fooled! Study exposes most popular phishing email subject lines

Phishing emails are on the rise and a new study out by the cybersecurity company Barracuda has exposed some of the most common phishing email subject lines used to exploit businesses. 
Deals

From Air to Pro, here are the best MacBook deals for March 2019

If you’re in the market for a new Apple laptop, let us make your work a little easier: We hunted down the best up-to-date MacBook deals available online right now from various retailers.
Computing

Oculus shows off the Rift S, plans to phase out its original VR headset

Oculus plans to phase out its flagship Rift VR headset for its newly created Rift S. The Rift S made its debut this week at the 2019 Game Developers Conference and is expected to be released in spring 2019.
Computing

Secure your Excel documents with a password by following these quick steps

Excel documents are used by people and businesses all over the world. Given how often they contain sensitive information, it makes sense to keep them from the wrong eyes. Thankfully, it's easy to secure them with a password.