Mining revenue depends on various fundamental factors including the global situation, news (bad news, good news, and media buzz in general), economical crises, pandemics, and difficulties, rewards, fees and exchange rate. From small to big, every event from pandemic to tweet affects the cryptocurrency market and ultimately crypto mining.
The cryptocurrency reached its lifetime peak last year, with a total market capitalization increase of 187.5%. However, the market has been falling since then and no one really knows when it will stop.
As we have mentioned above, there are various reasons behind this continuous decline and the market is also losing the trust of the people and the governments. But is this the end of cryptocurrencies? Will Crypto mining be profitable again?
The answer is YES! The Crypto mining industry is going through a changing face and soon it will be profitable again. There are some unique projects like Xcavator out there focused completely on the betterment of crypto mining.
How is Crypto Mining making a solid return?
Setting-up mining rigs take a major part of the total investment required in crypto mining. After that electricity tops the list and then maintenance also takes a huge toll.
However, the recent collapse has not only been frustrating for already established miners but has also eased the way for many beginners to enter crypto mining. Additionally, the hardware got cheaper, experts charging less, and also renewable energy sources are being preferred. Thus it is expected that Crypto Mining will return but in a more efficient way.
The price of hardware has also come down a bit after the pandemic due to the market downturn. This is easily seen in the case of graphic cards, which are an integral part of mining setups, and their price has come down significantly over the past few months.
After the hardware, electricity (availability, cost, harm to environment) is the main factor that was keeping a wide audience away from mining. However, the mining industry is trying to adopt renewable energy prominently.
With all the changes crypto mining is ready to make a return and this time minors have more to get with crypto mining.
How Mining will be more Profitable?
Ethereum Blockchain’s next version is just around the corner, and with all the positive changes the mining industry is on its way to making a good comeback. With all the positive things happening around crypto mining there are some projects that are making crypto mining profitable again.
One such project is Xcavator, it is one of the few cryptocurrencies that is completely focused on the betterment of the crypto mining industry. Xcavator is a project that offers access to industry-leading hardware, cheaper electricity, financial and maintenance support and all the help that a minor needs at present time. It is actually making entry to mining hassle-free and also helping miners, investors, and holders to earn more with its native cryptocurrency XCA. XCA will on one side represent the mining power and on the other side it will offer better returns on your investment with its in-built price appreciation mechanism. To know more, check the official website now and buy as many XCA tokens as you can.