How to mine Bitcoins for free and is it even worth it?

Cryptocurrency mining is a very difficult and energy-intensive process. Cryptocurrency miners need to generate a large amount of computing power and equip themselves with expensive miners to be successful in this area. This is a risky venture from the very beginning, which consists in maintaining a balance between the costs of energy and excavators, and how much the coveted currency is currently worth.

What's more, the very concept of using energy to maintain the value of the currency, the so-called "proof of work", and not just to make transactions, is quite questionable from an ecological point of view. Tens of thousands of excavators around the world use electricity to generate random number sequences and only one of them will be able to find the desired hash every few minutes. This is how Bitcoin works in a nutshell, but many other currencies are characterized by the same algorithm in the blockchain network.

Fortunately, there is a fairly simple way to reduce the cost of such an undertaking. It is enough to invest in a photovoltaic installation, which will practically zero electricity bills to zero.

Net metering system or "net metering", which operates in Poland, allows for virtual storage of electricity in the network. In a nutshell, we have 365 days to collect each surplus of energy we produce. This means that by producing a lot of energy during the day, we can take it away at night, and the surplus in the summer season can be collected in the winter. The energy company for storage takes only 20% of energy from our virtual warehouse. So if we calculate the annual energy demand for the number of excavators we have and add 20%, we get approximately the size of the photovoltaic installation that we should install.

Thus, the only cost that will remain will be the maintenance of the excavators themselves and possibly the administration of the operating system for which the cryptocurrency mining program is launched.