Crypto mining is taking around the world. Everyone admires earning good passive income, right? This makes mining the best passive earning source.
But hey, can I mine bitcoin on PS5? This is the question that pops in mind for everyone who has the new PS5.
Don’t worry. I am here to explain all about crypto mining on PS5, or is it even possible to mine bitcoin on PS5? If it is, then how can you do it.
What Is Bitcoin Mining?
Bitcoin mining is a process to mint fresh bitcoins by solving complex mathematical equations with computational energy.
This process is used to verify the bitcoin transactions around the globe, and as a reward, the bitcoins are minted for the miner.
Is It Even Possible To Mine Bitcoin On PS5?
Most people out there with the latest Sony PS5 get this question whether they can mine Bitcoin on PS5 or not?
Yes, it is possible to mine bitcoin using PS5 by installing custom firmware, which was used in the PS4.
You might have seen this claim made by a Chinese team that they have successfully mined bitcoin on PS5 at 99MH/s, which is insane and impossible.
The QR code in the image, which when scanned says, “There is no such software, hahaha,” in Chinese, assuring that this image and this claim are not legit.
In another video of Lewis Hilsenteger, the famous unbox therapy guy explains how this claim is fake. If PS5 could mine bitcoin at 99MH/s, it would be way much expensive than even two thousand dollars.
How Does Crypto Mining On PS5 Works?
To understand how crypto mining on PS5 works, you have to understand how mining works at all, what the requirements are, and what do you need to begin, which you can do by reading our post about how you can mine bitcoin at home.
With PS5 on board, you don’t need an ASIC or GPU. You already have that with PS5. However, you can’t mine bitcoin with basic PS5 firmware, and you have to install a customized firmware, preferably Linux.
Next, you have to install the mining software, preferably NiceHash. And that is all you need to do to start mining bitcoin on a PS5.
What Are The Drawbacks To Mine Bitcoin On PS5?
Crypto mining on a PS5 has certain drawbacks, which you should learn before starting mining.
Low Hash Rate
The hash rate is the speed at which fresh coins are minted. In the case of PS5, you might not get a good hash rate. Hence, not a lot of bitcoins.
Since AMD Radeon RX 6900 XT is one of the latest graphic cards, and it sits around 60MH/s, which means that even the maximum potential of PS5 isn’t going to give you a significant hash rate.
More Power Consumption
A PS5 normally doesn’t consume a lot of power, and it sits around 200W, but in the case of mining bitcoin, you will probably have to run it for several hours at maximum processing, which is going to take a lot of power.
Unfortunately, you will not be able to earn enough to pay for the electricity costs. Although an ASIC miner consumes much more power than PS5, you will get 90TH/s, which is much better than the Playstation 5.
High Maintenance Cost
PS5 is an expensive device that can cost you a fortune to buy in the first place, and with consistent processing, it might get some wear and tear.
According to Venturebeat, the parts of PlayStation 5 alone costs $450, which means minor repairing can cost from $100 to $200 on an average.
Now coming down to the last straw, crypto mining on a PS5 might seems like a big thing but believe me, mining bitcoin on a PlayStation 5 might not be the best idea.
If you are interested in mining, you should go with the right equipment, such as an ASIC rig. Since a PS5 is a gaming console, it would go a long way with gaming.
These are the reasons why most PS5 owners avoid any kind of mining on their devices. But I hope that this post would have answered your question. If you need any help, don’t forget to comment down, and we’ll definitely get back to you.