In this article you will get to know how you can earn money by mining bitcoin on your computer at home and is Bitcoin Mining Profitable in Pakistan?
According to the survey by Dawn News: Pakistan can produce $35 billion worth of Bitcoin annually if it uses its energy resourses to mine bitcoin using the most recent S19 Pro Antminer (bitcoin miner). This is possible if Pakistan has 10,000MW of extra energy at a cost of $0.12 per kW/hour.
Is Bitcoin Mining Profitable?
The exchange market value of one bitcoin was $43,394.80 as of the end of March 2022. This value is a sign that the cryptocurrency is doing well. The popularity of the Bitcoin currency has increased to the point where it now has a value comparable to that of gold over time.
For Bitcoin miners and fans, the future looks bright, and anyone who wants to try their hand at it could find it to be a lucrative endeavour.
Bitcoin miners can obtain bitcoins in three different ways. Which are:
- Exchange market for buying bitcoins
- Accepting bitcoin as payment for products and services
- Mining new bitcoins
The most thrilling choice out of these three is probably bitcoin mining because it leads miners on a quest for knowledge.
As it takes a lot of computer power to solve intricate mathematical equations in order to authenticate transactions and add them to the blockchain digital ledger, mining bitcoin can be rather expensive.
How can you mine Bitcoin using PC in Pakistan?
You can earn substantial amount of money by mining bitcoin with your computer running?
Wikipedia states that Bitcoin is a digital money that was founded in 2009. One Bitcoin is worth approximately $23,217 as of February 2023.
To peoduce this cash and revenue you need to have high end computer at your home.
This a fact that you can make money in Pakistan while being at home.
You can make money in Pakistan by simply leaving your computer on?
Yes, the activity is known as bitcoin mining. Installing a program from the bitcoin website or other third-party sources. After that creating a free account, and just leaving the software running can cause it to produce bitcoins. The worth of which is $23,217 USD. But is it really that easy?
The idea behind mining is simple. You keep your computer on at all times, a calculation is run on it. After it is solved, you are paid in bitcoins. One block of the calculation will result in 50 bitcoins when it is solved. However, the speed of your system determines how long it takes to solve a single block.
What is required to produce bitcoins?
Just the newest, fastest computer hardware with a sufficient amount of Mhash/sec performance. You can use the CPU or the GPU.
The concept of mining bitcoins in Pakistan is really appealing. All you have to do is leave your systems running. You may make money from anywhere, including your house, office, cellphone, etc.
How you can earn money at home with bitcoin mining in Pakistan?
Example 1: Assume your CPU is a core i3. According to this website, mining equipment has a 9 Mhash/sec output rate. It will earn 1 bitcoins, which are worth $23,217 US dollars. It is possible if you run the bitcoin software on it continuously for a month.
Example 2: In a manner similar, if you use a GPU rather than a CPU and have an Nvidia 9800GT. The Nvidia 9800GT can produce 30 Mhashes per second. If the bitcoin program is running on this system for one month, 3.76 bitcoins, or $65,671.13 USD, are produced.
Is Bitcoin Mining Profitable in Pakistan?
A computer uses electricity when it is used for a month. Computers generate heat and utilize electricity. Will it be appropriate in a country like Pakistan where there is an energy crisis? Additionally, operating a computer continuously at high utilization levels can damage it.
A very fast computer with the newest CPU will only result in significant loss. But if yoHaving a very fast GPU is advantageous. This may result in profits. Use at your own risk.