Can Mining Pools Buy Hashrate from Individuals?

This isn’t about cloud mining or any of that spammy stuff.

I mean, sharing mining power with pools could be a way to use those old miners, right? I feel like with tech moving so fast, a lot of us are left with outdated equipment. We end up just wasting power and barely making enough to break even on the electricity.

Yeah, totally! If we could at least get a few bucks to cover the electric bill, that’d be something. Solo mining is out of the question, so pools seem like the only option to use all those miners globally and hopefully find a full Bitcoin reward.

I think old ASICs can usually find a buyer. There’s always someone who needs a cheap miner, maybe because they have low electric costs or a specific project in mind. Sure, you might not get top dollar, but if you planned well when buying, you should’ve made a profit before selling.

Mining's mining, you know? There’s no magic scheme to get rich quick. If your hash rate is low, your rewards will be low. Expecting higher payouts just shows a lack of understanding.

Honestly, trying to make that profitable is a stretch. If you want fixed returns, you’re looking at a PPS system. If they pay you a fixed amount, it’s gotta be less than what you’d earn elsewhere. Why would you mine there instead of a regular pool?

Take the old Antminer S9s for example. They cost peanuts, but shipping can be more than the actual miner. And if they break, the repair cost can be a killer. Those old machines are basically only good for burning excess power.

I don’t get this whole ‘outdated miners’ talk. It’s still about the cost of electricity. You could mine with a piece of paper, but the odds of finding anything are slim, so we use ASICs.

Thanks for this convo, everyone. Here’s what I got from it: - Miners aren’t really outdated - Old miners can always be resold - Scrapping is an option too - Pool sharing isn’t super profitable - Old miners can still make money if electricity is free - No pools are doing this because of the reasons mentioned.

Exactly! If you’re paying super low electricity, then maybe old miners can work for you. But it’s mostly about finding the best Th/s for your cash.

Right, but at some point, you just can’t keep using a miner. Repairs get too costly or you’re just not making back what you spend. If it gets to that, you might as well use it for fun.

If electricity is free, then why not use a better ASIC? Sure, you could solo mine with old hardware, but a new ASIC is the way to go. You’d make more from that.

Luck plays a role, but it’s not everything. You gotta rely on calculations. A high hash rate means better chances of earning. Sure, luck can help, but big pools minimize that.

Anyone can jump into mining, but there’s no quick way to get rich. If you want profits, you need a new miner and cheap power.

For every lucky miner who finds a block, there are way more who get nothing. Over time, pooling resources means a better chance of hitting the blocks.

Same here. I doubt any pool will offer fixed returns for old ASICs because they just can’t compete with the rising difficulty.

Old ASICs could still be sold or recycled for parts. Or just keep mining if you have access to cheap energy.