Buying Bitcoin is preferable to BTC mining in most circumstances — Analysis
Data suggests that investors are better off buying spot Bitcoin then attempting to mine it, unless the market is in a mega bull run. While intuitively, mining Bitcoin may appear like a highly profitable endeavor, research suggests otherwise. After discovering Bitcoin, most users go down the rabbit hole and consider whether it is better to mine or buy Bitcoin directly. They usually give up due to the cost and rigor of running ASIC miners, regulatory uncertainty, and the lack of technical expertise. Hypothetically, if one overcomes the above challenges, they could enjoy advantages such as full autonomy over their operations and diversification of their crypto investment via physical hardware instead of directly purchasing Bitcoin, but the entire venture can be risky and labor intensive. To mine, or not to mine BTC? Analysis by Bitcoin (BTC) mining data firm, Hashrate Index, suggested that “buying bitcoin is preferable to mining it in most circumstances.” Jaran Mellurad, a Bitcoin minin...