Investing in bitcoin mining no longer makes sense, analysts argue. The average price of this "crypto coin" on the market is $ 3, 600, which is much lower than $ 6, 500 a year earlier. But even worse for miners - according to JPMorgan Chase & Co, the cost of obtaining one bitcoin has already reached $ 4, 060. Why work at a loss?
The growth in the cost of mining cryptocurrency almost everywhere in the world is associated with an increase in the cost of paying for electricity. Somewhere the miners were simply imposed a new policy, forcing them to pay at corporate rates, in other places, mining farms have grown so much that their maintenance is no longer affordable for the previous owners. The experience of China is noteworthy here - the largest miners have moved and settled in the vicinity of electricity generation facilities in order to receive it directly, almost at cost.
As a result, the price of generating bitcoin for Chinese businessmen is on average $ 2, 400, which is much more profitable than the prices for the rest of the world. And, probably, it is no coincidence that instead of a general decline in the pace of mining in some countries, there is even an increase in it - the Chinese experience is being adopted very quickly. Even miners from Western countries, who find themselves in the most unfavorable conditions, are in no hurry to curtail the process - they wait and hope for the best.
The aspirations of miners are due to the fact that bitcoin did not die, but only "cleared", random impulsive investors ceased to take place with it. It has ceased to be of interest to serious financial structures, the level of attention and pressure on cryptocurrency from various regulators has decreased. And if so, then bitcoin is again ready for a "rebirth" and a sharp take-off - you just need a good reason to launch it. And this time, cryptocurrency holders intend to use such a case to the maximum.