Can you lose money bitcoin mining

Doing the math Time to crush some numbers. I'll give you image of my spreadsheet first and explain my thoughts right after that. I reality it does change, I will take that into account later on.

As soon as the price of Bitcoin gets around 3, USD, the contract would be profitable. In the can you lose money bitcoin mining, you see that after 58 weeks your costs become higher than your income. We paid USD to get the contract in the first place. I'll give you image of my spreadsheet first and explain my thoughts right after that. So when will that be?

I know that the maintenance cost is 0. Time to crush some numbers. In the table, you see that after 58 weeks your costs become higher than your income.

Let's first find the total income per day. As soon as the price of Bitcoin gets around 3, USD, the contract would be profitable. Time to crush some numbers. Losing money on Bitcoin cloud mining? Cloud mining is hot these days, but how profitable is it?

So when will that be? Let's indeed have a look at that, and assume the value will rise and not drop. The contract will then last a bit longer, 76 weeks. The next column shows the maintenance cost which is fixed and will be deducted from your mining income.

If it did, please like and share so it can help others too! As soon as the price of Bitcoin gets around 3, USD, the contract would be profitable. Below are my own calculations, because - as most Youtubers advise - I did my own research.