is mining still profitable?

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I was scrolling through tiktok today and found a vid of someone saying that you can now use Hard Drives to mine crypto? And it's supposed to cost less. Anyone heard of it? He was claiming that it can make $4k a month with his setup
 
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PanosSmrs said:
I was scrolling through tiktok today and found a vid of someone saying that you can now use Hard Drives to mine crypto? And it's supposed to cost less. Anyone heard of it? He was claiming that it can make $4k a month with his setup
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I highly doubt the claim. Did you google before posting it here? Tiktok or even Takatak is crap source of information.
 
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That is not true. The ROI is the problem.

For summary, It is simply not profitable
 
Yes, you can farm Chia Coins using hard drives but not worth the time it would take you over 3 months to win a block farming chia on a 6 TB hard drive. SSD does better but if you plan to farm chia you may try doing so. Also, it will consume a lot of your MEMORY(RAM) alongside DISK DRIVE SPACE.
 
I saw news that many HDDs/SSDs are dying fast from mining, be careful
 
Yes, you can mine Chia coin with your HDD/SSD. This could lead to shortage of HDDs and SSDs in the market. I'm not sure how profitable it is, but I'm sure it was before when less people were mining it. :)
 
I don't think it's a very good idea to mine with a HDD or SSD. Those are made for storage and not constant read/write. You would put in like 1 year of 'average' usage with a weekend of mining. At least GPUs in a controlled environment can actually last quite bit, but I don't see how a HDD would survive mining.
 
The setup required to make that amount per month would take you 3 - 10 years to break even, not including system breakages and replacements. You always have to take in to account the speed of your return.
 
Rewards are variable and you can't calculate when you pay off your hardware. Everything is based of the difficulty of mining a certain coin. The reward you get today will be more than you will get in 3 months. This is a real problem. You can't calculate and say "I get my GPU investment back in 6 months"
 
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