Why is my miner earning less and less?

I've got a Futurebit Apollo miner that’s running at around 3TH. Brought it about a year and a half ago. Initially, it was mining close to 1000 sats daily. But over time, it kept dropping. Now I'm only getting about 600 sats daily. What gives? The halving hasn't happened yet.

The halving is just one aspect. Other stuff matters too. The total Bitcoin hashrate has been climbing, which definitely affects your earnings. It's way higher than a few months back. Just check the charts.

Nah, halving isn't the reason. More miners means less reward for you. If the total hashrate is 1000 th/s and yours is just 10 th/s, you get a tiny piece of the pie. If the total doubles but yours stays the same, your percentage drops. More miners entering means unless you boost your own hashrate, your earnings will keep shrinking.

Try using a calculator or something. More miners = less profit if your hashrate is stagnant. If you look at the big mining outfits, that’s where the real money is. 3TH isn’t much in Bitcoin mining, honestly.

So, what's this mining difficulty all about? You really should check this out: Mining difficulty goes up as more hashpower gets added. If the total hashrate drops, difficulty can drop too. More hashrate means higher difficulty, which affects your share of the rewards.

Right on!

Thanks for all the feedback! I enjoy mining to help out the network and grab some KYC-free coins... Even if it's just breaking even or losing a bit. Thinking about selling the rig though. Anyone know a quieter miner that’s similar to Futurebit Apollo but has a bit more hash?

Here’s a setup for you: 6 CPU cores, 44 ASIC cores, 1TB SSD, stays quiet, under 200 Watts. Made in the USA. That’s how the future of Bitcoin looks. But honestly, this miner isn’t great for Bitcoin. Better off getting a solid GPU for around $700 and mining on NiceHash. You’ll have more options with a GPU.

Yeah, the new Apollo is pricey for what it offers in hash rate and efficiency. A dual GPU rig costs less and earns more.

With Ethereum mining gone, how are those NiceHash users making it work? Never really thought of platforms like NiceHash before.

Heatbit is worth a look. Claims about 8-10 TH/s and <40 dB noise. Just understand it’s multipurpose, so don’t expect miracles. According to whattomine.com, breaking even could be doable, but it relies on a few low-cap coins.

Doesn’t NiceHash only pay in Bitcoin? From their site, even an RTX 4090 is only making under $2 daily. Maybe they’re running other operations or their energy costs are super low? Hard to believe anyone would offer their hardware for such slim profits if they can’t balance the costs.

For sure. Besides low energy prices, I think a lot are ex-miners from Ethereum who just want to cash in as much as they can from their GPUs. Or they’re hoping those lesser-known PoW coins can break even. But honestly, selling the GPU seems smarter.

Interesting take on that! You’d think holding crypto beats selling your GPU now. I heard Nvidia cards are hot commodities, especially with AI taking off. Companies are grabbing them left and right.

Looking at the RTX 4090 lately, profit’s been around $2.50-$5 daily, but on good days, it hit $15. The cooling issue is a big deal though. Unlike ASICs, those GPUs are easily resold.

For GPU miners, it’s tough. But if you've got an efficient ASIC and cheap electricity, mining can still be profitable, especially with those high transaction fees right now.

Here’s a list of ASICs and their daily profits.

I’m no expert but honestly, your miner feels outdated. Tech upgrades happen fast. You should consider updating your setup.

To upgrade ASICs, first, you need to pay off the old gear. Profitability hinges a lot on power costs; otherwise, you’ll keep reinvesting what you earn into new gear. Bitcoin mining isn’t always a win for newbies.