BIT Mining isn’t just about buying hardware and letting it run. Hidden costs can erode profits if not managed wisely.
1. Electricity Costs:
- Optimization: Use energy-efficient miners and low-voltage power settings.
- Tip: Consider renewable energy or mining in regions with cheap electricity.
2. Cooling Expenses:
- High temperatures lead to hardware degradation.
- Tip: Invest in efficient cooling systems and improve airflow to reduce HVAC costs.
3. Maintenance and Repairs:
- Regular servicing prevents costly breakdowns.
- Tip: Learn basic troubleshooting to avoid outsourcing simple repairs.
4. Network and Software Fees:
- Some mining pools charge fees (1–2%).
- Tip: Compare pools to find lower fee structures with high uptime.
5. Depreciation:
- Hardware loses value over time, especially ASICs.
- Tip: Resell or repurpose old GPUs to recoup costs.
By monitoring these hidden costs, miners can maintain profitability even during market downturns.
