Asics are machines with chips programmed specifically for cryptocurrency mining.
Just Mining offers an additional option including the configuration of your Asics. Thus, you will only have to connect the machine to its reception so that it begins to mine.
Dear Client, Dear Investor,
Cryptocurrency mining is a very special investment. To approach it correctly, it is necessary to have a good understanding of this market.
So, if you are new to or not familiar with all aspects of this environment, we strongly encourage you to read these lines.
The price of mining machines is dictated by supply and demand. For this reason, we saw a spike in the price of mining machines over the late 2020s and early 2021s. Since then, the price of the equipment seems to be stabilising.
For all that, ASICS are trading at almost 3 times the price of September 2020.
At Just Mining, we believe that these prices were too high for mining machines. That is why we had suspended sales of them for almost 12 months.
Nevertheless, we are forced to note that this price seems to be normalizing and it is possible that these prices will never be lowered.
This is why we have recently reopened sales of mining equipment under very strict conditions.
However, we invite all our users to read all the information bricks below to have a good knowledge of the current state of the cryptocurrency mining market.
For 95% of the people reading this, mining is not a suitable investment. Please read all the information below before contacting our advisors to keep our exchanges as efficient as possible.
It is important to understand that rising markets have a direct impact on the profitability of mining. Indeed, the profitability of mining depends on three factors:
- The price of cryptocurrencies: Obviously, when bitcoin is at €15 000, the profitability results are not the same as when prices are at €50 000.
- Mining difficulty: The amount of bitcoin received by the miner is not fixed, it depends on what is called the mining difficulty (= the number of active miners). The more miners there are on the network, the smaller the share allocated to each miner will be and vice versa.
- The cost of electricity: As the machines are energy intensive, the miner's objective is to pay the least amount of electricity possible in order to limit the costs of his investment.
Of these 3 factors, the only one we can control is the electrical factor. The other two are variable over time and therefore today's profitability is not tomorrow's.
With this explanation, we would like to draw your attention to the fact that at the moment, the profitability of mining is high, because the prices are high. But in time, it is likely to balance out, either through a price correction or through an increase in difficulty. Although an even stronger rise is plausible, it could be short-lived.
Also, we recall that for a mining project to be viable, the key point is electricity. For a French investor who pays his kWh at the average price in France (0.15€/kWh), cryptocurrency mining is not necessarily the most profitable investment formula, it is even inadvisable. We will come back later on the possible alternatives.
In fact, if you do not have a price per KWH of less than 7/8 cents, we will refuse to support you in a mining project.
During this bullish phase, the demand for the machines increased to the point where demand far exceeded the available supply. This euphoria is still with us today.
Thus, when an investor wants to acquire mining machines, it is not usually the investor who selects the equipment. He is forced to adapt to the availability of brokers.
Many of you are in a hurry, driven by what is known as FOMO (Fear Of Missing Out), the fear of missing an opportunity. In investing, you should never make decisions in a hurry. Even less so in a market as difficult to master as crypto-currencies.
This is a good time for scams to develop. Fake mining sites are offering ASICS at competitive prices. Take the time to find out. We receive far too many calls from users explaining that they have just bought an ASICS from a company that no longer responds to them.
Similarly, beware of second hand markets, there are many scams on private sales sites at this time of year.
Now you have all the information you need to judge whether or not it is wise to embark on a mining project. In case, with this information, you finally think that mining does not fit your investor profile, you should know that there are alternatives.
Rest assured, mining is not the only way to invest in cryptocurrencies. On the contrary, it is reserved for certain investors who tick very specific boxes.
More than half of the people we have on the phone right now want to invest in mining because they are new to it. But after a few minutes of discussion, we realise that mining is not at all suited to the person's profile.
At Just Mining, we offer several investment formulas such as lending, staking or masternodes. These totally dematerialised investments often correspond much more to the profiles of our users.
To put it simply, these investment formulas are similar to the savings books you find in traditional finance. An X amount of cryptocurrency is tied up in exchange for interest earned daily in cryptocurrencies. The benefits:
- Interest rates much more attractive than traditional finance (5-40% annual APR)
- The initial investment is free
. - Passive income credited every minute to your Just Mining account - A flexible investment formula: you can exit your position whenever you want (note: some projects require a release period)
For more information on these investment products, please read our articles:
- What is lending?
- What is staking?
- What is a masternode?
Our teams are at your disposal to answer all your questions.