The main cryptocurrency price is now above the cost of mining. At least, so says well-known economist Alex Krueger. The analyst noted that the difficulty of mining Bitcoins has increased significantly since December 15, when a coin has reached its bottom-level $ 3,200. In other words, comes into play more and more miners, who are counting on the further growth of the asset.
It is time to buy asik
This morning, the Bitcoin is trading at $ 5299, over the past day, the price of bitcoin has dipped 0.7 percent. However, the rollback does not go to any comparison with the growth of that asset was shown in the beginning of the month. Miners are safe — according to the estimates of Krueger, the production cost of BTC is in the area of 3550 dollars.
In the calculations of the economist, the cost of electricity is 5.5 cents per one kilowatt. More accurately calculate the cost of mining for your electricity rates on WhatToMine.
The bitcoin mining operational breakeven for efficient mining operations currently stands around $3550. pic.twitter.com/gQrNYBcvLH
— Alex Krüger (@krugermacro) April 21, 2019
By the way, the average value assumed by Kruger, a little higher cost, they take on Chinese miners. For example, representatives of the company Hashage from Sichuan argue that the local grid provides more electricity than required by the demand of Chinese consumers. As a result, the firm can afford very favorable rates at the rate of 3.5 cents per one kilowatt.
See also: What? on low graphics? A list of “easy” cryptocurrency and profit from their production.
Based on the data of Kruger can come to the conclusion that the production of Bitcoin in China, especially in certain regions with low rates, generates about $ 2,000 profit on each of the extracted coins.
Of course, the situation can always change, especially against the backdrop of threats from the Chinese government. Earlier in the Internet appeared rumors about a possible ban on mining Bitcoin in China. Fortunately, while beat trivogu before. And mining continue to thrive, be sure to subscribe to our cryptcat!
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