Bitcoins mined in February 2022
I did not purchase any new miners in February, so let’s just jump directly to the mining performance of the miners that I owe.
BTC mined in February 2022: 0.268 BTC
BTC value when mined: $10,820
BTC value now (March 15th 2022): $10,864
February was a tough month for miners. Main reason being that on January 20th, the mining difficulty increased by over 9%. And then on February 17th in increased again by over 4%. These giant increases in difficulty have significant effect on mining profitability and resulted in significant decrease in BTC mined for me. In addition to that, February only has 28 days, vs 31 days in January. So that is another 10% less mining days.
Fortunately these difficulty increases did not continue in March. On March 3rd the difficulty actually declined by 1.49%, and it looks like it is going to decline by another 1% or so on March 17th.
My Bitcoins mined life time since November 2021
BTC mined: 0.861 BTC
BTC value when mined: $37,547
BTC value now (March 15th 2022): $33,985
Getting very close to mine a 1 full BTC soon. I am still worse at $ value of my mined BTC than if I sold them when mined. That is due to high BTC price in November and December when I started mining. The more BTC I will mine at lower prices like they are now, the more this number will turn around once BTC price will rise again (which I really hope it will).
Mining difficulty is extremely important for ROI and as I said before, February was a tough month for all the miners. The price of BTC did not increase, but the difficulty did increase significantly. With the difficulty decline 2 weeks ago, and possibly another one 2 days from now, things are looking better for March performance. As I said in my last monthly mining update, I consider any difficulty adjustment of less than 2% a great news for all the miners out there.
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