Despite Record Revenues Bitcoin Mining Profitability Is Going Down

Home / Despite Record Revenues Bitcoin Mining Profitability Is Going Down

According to Diar, while the price of BTC remains 40% higher than last year, and Bitcoin miners have achieved record revenues of $4.7 bln, because of the many different factors Bitcoin Mining has become less profitable than before. It is reported that this negatively affects smaller mining operations and places larger mining pools at an advantage. According to the study, China is one of the few countries that offer affordable Bitcoin mining energy price packages, with an average cost of $0.08/kwh. However, rent, salary, equipment, and other expenses can lead small mining enterprises to bankruptcy.

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