This is a quick followup to why I don’t mine bitcoins or any other coin. The article touches on how people are buying and using dedicated minicomputers with special mining chips.
These chips are processors similar to the ones in your pc, but unlike the one in your pc, which is designed to be general purpose, this one is designed to do only one thing, mine bitcoins. They are way more cost and energy efficient than using your pc.
Then there is the electricity. They are getting it for 4 cents per kWh, DELIVERED! I am lucky to get charged twice that for generation. My taxes and delivery charges more than double that number. I pay nearly 20 cents per kWh. There is no way to compete with that, especially at only $7,000 per Bitcoin.
So, to sum up, I think it is passed the time where mining Bitcoin or other coins is a good idea. Investing in them is a different story, and that is for another post!