For example, as of Dec. 27, the estimated daily profit for an Ethereum miner using a single GPU was $4.59 . For Feathercoin, by way of comparison, miners were estimated to lose $0.58 per day. Obviously, to generate a significant amount of profit, you’d need to host a large number of GPUs using these calculations.
Read moreHow is Ethereum profit calculated?
You calculate crypto profit by subtracting the selling price from the cost price of the cryptocurrency . That is one of the simplest ways to calculate your profit and loss.
Read moreIs mining cryptocurrency legal in US?
There are few, if any, jurisdictions in the U.S. where possession of cryptocurrency is illegal . Plattsburgh, New York, however, is likely the only city in the U.S. to impose a ban (temporary) on cryptocurrency mining. Also, the U.S. Marine Corps banned crypto mining apps from all government-issued mobile devices.
Read moreIs mining Ethereum legal in UK?
The United Kingdom’s approach to cryptocurrency regulations has been measured but has matured in the post-Brexit financial landscape. Although the UK confirmed in 2020 that crypto assets are property, it has no specific cryptocurrency laws and cryptocurrencies are not considered legal tender .
Read moreIs Ethereum mining legal in Canada?
In Canada, cryptocurrencies are legal . They are not, however, considered legal tender. So, while individual businesses can choose to accept cryptocurrency at their own risk, the relatively more formal CRA won’t accept it as a form of payment for your taxes.
Read moreCan you mine Ethereum on your own?
Technically, anyone can mine on the Ethereum network using their computer . However, not everyone can mine ether (ETH) profitably. In most cases, miners must purchase dedicated computer hardware to mine profitably.
Read moreIs it illegal to mine cryptocurrency?
If you are wondering whether bitcoin mining is legal, the answer is yes in most cases .
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