I’ve had recent success in Helium mining and have been able to maintain rewards of $400+ per month. Although this works well for me, it may not for everyone. The daily network mining average is currently around 0.11 HNT per day which at a market price of 30 USD/HNT is only $3.30 USD. Earning $3.30 USD per day may not be so appealing to most especially when a decent setup can cost upwards of $1000 USD. In this article, I will cover the due diligence I took before deciding to purchase a miner and suggest you do the same before choosing to join The People’s Network!
If you haven’t already checkout my first article to see how I got started in Helium mining: I Tried Helium Mining for a Month And Made $419.54 USD! . It goes over what Helium mining is, the different types of rewards, and how I got my miner set up.
Prime Location for Helium Mining
It is first important to determine if you are in a good location for helium mining. The location of a miner is a key factor in the amount of HNT you earn.
Start by researching how other miners nearby are performing, all hotspots on the network can be found on the Helium Explorer (the map is represented as hexagons, if interested in how this mapping system works check out this article). This explorer will show the number of hotspots in a hexagon and the amount of HNT these hotspots have been mining for the past 30 days. If there are too many miners performing poorly in your hex, this may not be a good sign, nor if there aren’t any other miners nearby.
The best hotspot location is somewhere not too close to other hotspots but still close enough to still receive signals from them.
Although the Helium Explorer does not show the exact hotspot locations pinned by the owner, this can be seen on Hotspotty. Using this data, drive-by hotspots nearby to see if the owner’s setup is visible. This can help determine what having a similar setup in the area can earn by contrasting setups with data on the explorer. If you feel like you can have a better setup than most hotspots in your area, then great, your earnings are likely to be more.
Understand How Reward Scaling Affects Your Earnings
The majority of rewards are likely to come from Proof-of-Coverage (PoC), that is rewards for being witnessed or witnessing. Originally all PoC rewards were divided equally; however, to promote the installation of hotspots in areas with insufficient coverage and penalize hotspots in areas with duplicate coverage, reward scaling was introduced. The rewards earned when being witnessed or witnessing depend on two things:
The number of witnesses
The number of hotspots in the hex tile of the transmitter
The Helium Improvement Proposals (HIP) cover these in-depth, specifically HIP15 and HIP17 have a detailed explanation of how rewards are calculated. Here are some summary points for them:
HIP15
Transmitters: the more witnesses, the more the Transmitter earns.
Witness: each additional witness past a total of four reduces what is earned by each witness in that challenge.
Randomly shuffles the valid received witness receipts, and selects up to 25 of those valid to write to the chain.
HIP17
The Witness earns less if the number of Hotspots in the area of the Transmitter exceeds the “target density”. Target density varies by hex resolution, as detailed in the HIP and defined in several chain variables.
Transmit Scale
It may be difficult to understand the underlying scaled rewards calculation, but what we really need to know is if the potential transmit scale (previously named reward scale) value for your hotspot is 1.0 or very close to 1.0. Transmit scale is a multiplier (0–1.0) that is applied to your rewards and is a reflection of the hotspot density in that area.
We can start by looking at the transmit scale values for the hotspots near you on Helium Explorer. In particular, look at hotspots in your hex and compare their transmit scale values, as you are likely to get similar numbers. Note however your transmit scale could be different from others in your hex since this value is based on multiple ranges in areas of density and not just the density of your hex. Also, adding your hotspot to the Helium blockchain could potentially reduce the transmit scale of others around you, as this does make the hex denser.
To get a more in-depth understanding of the transmit scale for a hotspot checkout Hotspotty. The reward scaling tabprovides tons of useful insights and has the functionality to edit placements of current hotspots. You can choose a random hotspot and then edit its location to where you plan on putting one to get an estimate of your transmit scale value.
Note: You need to be signed in with Discord to access all data on Hotspotty.
A low transmit scale doesn't necessarily mean your earnings will be low, as this is just a multiplier. There are other factors such as your setup and the number of hotspots you are able to communicate with that impact the amount of activity your hotspot has.
Elevation of a Potential Hotspot Location
A key question to ask is, how high up is a potential hotspot location relative to buildings or land around it? If the elevation is generally higher than its surroundings, then it is a good place for a Helium miner because your signals are not being blocked off. On the contrary, if your location is at the dip of a valley or not elevated, this may not work well for you.
In general, think about whether signals from your antenna will have a good amount of uninterrupted reach. As this will directly correlate with your earnings.
Conclusion
All things said, in the end, the decision is yours. If you have done all the due diligence suggested above and feel good about giving Helium mining a chance, then go for it! Look at it from an investment perspective and estimate the amount of time it will take for you to recoup the initial investment based on the data points you have collected. Be a data driven investor!
This article is for informational purposes only, it should not be considered financial, tax, or legal advice. Consult a financial professional before making any major financial decisions.
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Thousands of individuals mine HNT, with more added daily. This means it may not be as profitable to mine HNT in 2023 as in 2022. However, miners still have the potential to make a profit if they can find ways to optimize their mining operations and reduce costs associated with running a node on the Helium Network.
Thousands of individuals mine HNT, with more added daily. This means it may not be as profitable to mine HNT in 2023 as in 2022. However, miners still have the potential to make a profit if they can find ways to optimize their mining operations and reduce costs associated with running a node on the Helium Network.
Keep your antenna cable as short as possible if you want maximum earnings. GIVE YOUR ANTENNA 20-30′ OF RUNWAY — LoRa does best if you give it room to breathe. Do NOT put your antenna next to a house, building, or other solid obstacle (unless you know what you're doing and have a very good reason to.)
Yes, it is possible that Helium can reach $1000 but only in a distanced future, after 2030. The global helium market is forecasted to reach US$20.17 billion in 2026, growing at a CAGR of 13% during the period spanning from 2022 to 2026. Growth in the global helium market was supported by ...
How long will helium mining be productive? With the current timetable, HNT will keep on being stamped for an additional 50 years! Even though year 50 just adds 3.6 HNT.
Bitcoin mining is still profitable in 2023. Bitcoin miners are currently mining around $20 million worth of Bitcoin per day. That's $600 million per month. A mining machine costs $2,000-$20,000, making it difficult for anyone but professional miners to mine.
Not necessarily, however it depends on your current internet speed. If your current data plan is already pushed to the maximum, by having a couple TV's running Netflix simultaneously while few other devices are connected to WiFi then adding a Helium miner might slow it down drastically.
Proximity. The Helium Network rewards miners for providing coverage and helping to build its network. As you interact with more and more hotspots, the number of Helium Network Tokens (HNT) you earn increases.
The earnings from Helium (HNT) mining can drop for various reasons, including increased competition among miners, changes in network difficulty, and changes in the overall value of HNT. Other factors such as network upgrades and changes to the Helium protocol could also impact mining earnings.
The only way to counteract the effects of a lower transmit scale is to improve your antenna setup (outdoors, higher gain, higher elevation) so it can witness beacons of Hotspots further away with potentially higher transmit scales. This ensures a low-scaled Hotspot can continue to earn at an optimal level.
In the past 24 hours, the crypto has increased by $0.04 in its current value. For the last 7 days, HNT has been in a good upward trend, thus increasing by 0.65%. Helium has shown very strong potential lately, and this could be a good opportunity to dig right in and invest.
Helium (HNT) is expected to have a strong performance in 2023 due to ongoing improvements in the Helium network. According to bullish predictions, the price of HNT could reach as high as $12.169 by the end of the year. However, bearish predictions suggest a lower price point of $1.47.
Helium price prediction 2025: Helium's price for 2025 according to our analysis should range between $3.63 to $5.44 and the average price of HNT should be around $4.53.
However, by 25 November 2021, the HNT price was hovering around $43. The price dropped further in December and saw lows of $26.03. The reduction was largely attributed to volatility across the broader crypto market, and Bitcoin fell by 19%.
Richardson said it has taken 4.7 billion years for the Earth to accumulate our Helium reserves. The United States' reserves were purchased in 1925 and will be gone in only a hundred years from getting it. Once the Helium is released into the atmosphere it is gone forever.
Monero (XMR) is one of the easiest cryptocurrencies to mine using a home computer. Monero is a privacy-focused crypto based on the CryptoNote protocol and utilizes the RandomX hash function to create increasingly complicated mathematical equations.
Most Bitcoin mining rigs make at least 2000 USD every day on average. Some can make up to as high as 5000 USD daily. We recommend buying more efficient and robust mining equipment to maximize your daily income from Bitcoin mining.
The practice of halving is used to reduce the number of available bitcoins entering circulation by half every time 210,000 blocks have been mined (roughly every four years). This means the last Bitcoin will be mined by the end of 2078. In other words, no more bitcoins will be left to mine.
You can operate multiple Helium miners, as long as they aren't in the same place – if they are too close to one another, their earning capabilities are severely limited. You want them to be 300 feet or more apart.
The majority of Helium Hotspot miners are low-power devices that use low levels of energy. They mostly require around 5W to connect to the internet, which converts to 0.12kWh or 3.6kWh per month.
Helium Console users are capped at ONE (1) Organization and 10 devices for their account. If your account as of March 31, 2022 exceeds this cap, you can continue using Helium Console with those existing devices and Orgs for 12 calendar months, but will not be able to add additional devices and Orgs.
This is a question on everyone's mind as they decide whether they want to get into Helium or not. A Helium miner makes on average 0.08 HNT a day in March 2022. This amounts to about $1.75 per day in earnings. By comparison, the Highest earning miner makes 1.9 HNT per day or $41.5.
Helium is a cool application of blockchain technology, and it has been really interesting to see it growing so quickly in 2021. While it may not be as insanely profitable as earlier this year, Helium mining can still have a good return on investment, especially in an area that is still in need of growth.
However, within peak time, Helium Hotspot mining devices might consume up to 12W (or 0.288 kWh), which converts to almost 8.64kWh per month. Taking the average $0.137 electricity price of the United States, this would only cost around $1.20 per month.
Aerospace & Aircraft. From manufacturing to flight, helium is widely utilized throughout the aerospace and aircraft industry. In space flight operations, helium is used to purge hydrogen systems and works as a pressurizing agent for ground and flight fluid systems.
In 2014, the US Department of Interior estimated that there are 1,169 billion cubic feet of helium reserves left on Earth. That's enough for about 117 more years. Helium isn't infinite, of course, and it remains worth conserving.
Helium boomed in 2021, growing from approximately 14,000 hotspots globally last January to over half a million at the start of 2022. And the growth hasn't slowed – nearly 80,000 hotspots have come online in the past 30 days, and the network now has over 600,000 hotspots around the world.
Helium Hotspot Miner has a rating of 4.63 stars from 30 reviews, indicating that most customers are generally satisfied with their purchases. Helium Hotspot Miner ranks 26th among Computer sites.
Binance has decided to delist and cease trading for Helium (HNT) after a periodic review. The largest exchange stated that it delists a coin or token when it no longer adheres to its standards.
And that's nothing compared to NASA, the single biggest buyer of helium. NASA consumes approximately 75 million cubic feet annually to cool liquid hydrogen and oxygen for rocket fuel.
Overall, Helium (HNT) mining in 2023 is expected to be a profitable venture for those who are willing to invest in the necessary equipment and have access to an optimal location.
Yes, it is possible that Helium can reach $1000 but only in a distanced future, after 2030. The global helium market is forecasted to reach US$20.17 billion in 2026, growing at a CAGR of 13% during the period spanning from 2022 to 2026. Growth in the global helium market was supported by ...
Keep your antenna cable as short as possible if you want maximum earnings. GIVE YOUR ANTENNA 20-30′ OF RUNWAY — LoRa does best if you give it room to breathe. Do NOT put your antenna next to a house, building, or other solid obstacle (unless you know what you're doing and have a very good reason to.)
Cryptocurrency mining is still profitable in 2023, but it may not be as rewarding as in the past. That's accurate for a variety of factors, including the fact that cryptocurrency prices were significantly lower than their peaks for the majority of 2022 and into early 2023.
Helium (HNT) is expected to have a strong performance in 2023 due to ongoing improvements in the Helium network. According to bullish predictions, the price of HNT could reach as high as $12.169 by the end of the year. However, bearish predictions suggest a lower price point of $1.47.
Helium has amazing potential over the next few years as acceptance for cryptocurrency increases. Our market forecast indicates that by 2030, HNT could reach a new all-time high of $12.54.
Monero, ZCash, and Ravencoin are among the top 5 cryptos you can mine at home in 2023. From buying GPUs (or ASICs) to power supplies and other computer components, cryptocurrency mining is incredibly expensive. The easiest cryptocurrency to mine is one that doesn't require you to build a massive crypto mining rig.
The February 2023 Mining Indaba promises to be the must-attend event for every executive in African mining. As well as gathering the largest number of investors, mining executives, and Ministers for four days' worth of investment discussions and deal-making, there are several new and enhanced initiatives planned too.
Once the gas leaks into the atmosphere, it is light enough to escape the Earth's gravitational field so it bleeds off into space, never to return. We may run out of helium within 25–30 years because it's being consumed so freely.
According to Nobel laureate Prof Robert Richardson of Cornell University, the US supplies 80 per cent of the helium used in the world at a very cheap rate and these supplies will run out in 25 to 30 years' time. Earth's helium reserves will run out by 2030, a leading expert has claimed.
The current native token, HNT, will no longer be mined by LoRaWAN Hotspots, which will instead mine IOT, which serves as both the incentive and governance token for the Helium IoT network. HNT will remain as the exclusive token to use the Network. IOT tokens can be redeemed for HNT in the Wallet App.
Based on our Helium price prediction, HNT is a bad long-term investment. The future price of Helium tokens is expected to go down towards $0.134 by the end of next year. Your current investment may be devalued in the upcoming years. The price of Helium is predicted to reach at a minimum value of $1.65 in 2023.
Introduction: My name is Eusebia Nader, I am a encouraging, brainy, lively, nice, famous, healthy, clever person who loves writing and wants to share my knowledge and understanding with you.
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