Bitcoin has gone through a long and sustained correction phase in 2018 with the price of the Bitcoin going from $20,000 to below $6,000 at its lowest, with the price now appearing to recover and is now holding above the $8,000 mark. However with any piece of negative news, there is always a silver lining as last year S9 miners were being sold at $3,000 a piece and now are being sold at a bargain price of $600 a piece, as miners reflect and are valued based off current market trends. However as the Bitcoin continues its recovery, one can expect the price of the miners to recover as BTC has recovered and regained 30% to 40% of its value in the past month alone and the price is expected to rise at a significantly faster pace than miners themselves.
Is mining profitable now?
Mining is extremely profitable not only in the East in Asian countries such as Mongolia and China where electricity is extremely cheap and possibly subsidized with local government contracts but it is also extremely profitable in the Western countries such as Canada and the USA which produce an excess amount of electricity which they are looking to sell. One example of this would be the Hydro Quebec which is looking to attract potential Bitcoin miners as it has a huge amounts of energy surplus which is equivalent to about a 100 terawatt-hours over 10 years, this is enough to power 6 million homes in Quebec in a single year.
With Hydro Quebec not being the only company in the energy business looking to off load their cheap electricity, it is no wonder that Canada is becoming the next hot spot for Bitcoin mining with its abundance of cheap and renewable electricity, stability. Given all these factors, to answer the question is mining profitable in Canada? Yes, it is extremely profitable at the moment as the price of miners is still extremely and will become more and more profitable in the future as the Bitcoin continues its road to recovery.
How to get started?
The Hedge Coin Group, which is one of the largest crypto currency funds and specialists in Asia and North America have 2000 S9 miners in stock in Canada ready for delivery at the bargain price of $600 a piece, including PSU. Once you purchase the miner, we will send you an invoice along with a tracking number and your delivery details, our customer service team will guide you through the entire purchasing process. Once purchased, please take a look at our guide on how to get started in Bitcoin mining – https://thehedgecoingroup.com/bitcoin-mining-101/ and you’re set!