How to Make Money Mining in EVE Online

Mining in EVE Online is all the rage these days. In the last year, the multiplayer space game has seen an uptick in popularity as players have jumped at the chance to mine gold, which can be converted into real-world money, using tools built into the game as a way of attracting attention and gaining a reputation. While the attraction to mining is probably due to the game’s existing popularity, it is also a way for players to make money quickly and easily.

The Basics Of Mining In EVE

Mining in EVE is very similar to the regular mining process in other videogames. Players will need to visit mines to search for materials, which are then harvested and processed into raw materials for use in constructing equipment, armor, and more (textiles, ore, and gas come to mind). There is also the option to research new technologies which would then be applicable to both mining and other aspects to advance your process.

Mining in EVE is divided into two processes: Prospecting and Digging. You will start off with small plots of land which you can upgrade as you gain reputation and funds. After you have upgraded the land, you can begin prospecting for materials or digging for ores. The first activity you do is largely based on how much you are able to pay for the service, with the second being based on your skills.

Mining in EVE – The Rewards

If you have accumulated enough experience, you can begin mining on your own terms and make more money per hour than if you were to follow the rules of the game. In turn, this makes resource collection a more profitable venture because you can now set your own hours and don’t have to follow the whims of others to continue making money.

If you want to get really serious about mining in EVE, you can look into opening a mining corporation, which can be done by simply purchasing a corporation license from CCP. Once you have opened a corporation, you can further specialize your operations by purchasing additional equipment and hiring specialized personnel. With enough investment and effort, you can begin to make significant profits that you can use to fund further exploration and development.

The Growth Of Mining In EVE

As more and more gamers flock to the game, the demand for resources increases. This, in turn, causes the value of those resources to increase, attracting even more miners to the action. As a result, the price of many resources, specifically precious metals like gold, begin to climb. Mining in EVE has effectively become popularized as a form of investment where users can make quick profits and also be a part of an active community of players.

With the influx of new money comes new opportunities for gamers. If you have a spare PC or laptop, you can use that hardware to mine for cryptocurrencies like Bitcoin or Ethereum instead of just gaming on it. The demand for these cryptocurrencies is greater than ever, as evidenced by the increasing number of commercial ventures capitalizing on the demand for crypto-mining hardware and software. In fact, the graph below shows the demand for GPUs (graphics processing units) which are the primary component of a PC or laptop used for mining.

The Future of Mining in EVE

So, what’s going on with mining in EVEnow? Well, despite the increased popularity of resource collection in the game, most players still opt to do it legally because they fear reprisals from other players. With the popularity of cryptocurrencies like Bitcoin and Ethereum, which are highly sought-after and can be used to purchase other resources, items, and services within the game, mining has become somewhat less rewarding. Essentially, as more people mine, the competition for limited resources becomes more fierce, causing prices to rise and, in turn, making resource collection more unappetizing because of the increased costs required to make a profit. This is bad news for miners who are looking for long-term investment opportunities.

To offset this, CCP has introduced a way for miners to create their own markets and set their own prices as a way of encouraging legal mining. To start, they have allowed miners to create buy orders for certain materials at a certain price, which is then honored by the game’s market makers when the time comes to fill the orders. This is, in effect, a futures market for minerals and other resources, and it’s a system that has worked well for those looking to become long-term or even short-term miners. Essentially, with enough technical know-how and forethought, you can effectively mine on your own terms and make a profit from the comfort of your home. In turn, this makes resource collection worth considering as a way to make quick money online.