It is possible to mine Bitcoin in 2022. Bitcoin mining is the process of using computer hardware to help administer the blockchain technology that runs Bitcoin. As a reward, miners can earn newly created Bitcoins. Mining Bitcoin can be profitable in early 2022, but the profit margin depends on the electricity price that is being paid. The lower the electricity price, the better the profits. Mining is competitive but mature business and there is potential for merger activity. The biggest risk of Bitcoin mining is that one may not make back their startup costs. The reward for mining Bitcoin shrinks every few years, but for now, it is 625 BTC which in December 2022 was worth roughly $105,000. Bitcoin mining profitability is down 70% year over year.
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