RE:RE:Profitable at 8k? I guess the question remains, why haven't we seen some significant upside in the SP?
RaduBiris wrote: Forbes quote: Even individual miners running commercial mining equipment like the Antminer S9 is operating at a breakeven cost of $8,206. To be completely accurate: Given current difficulty, 0.04$/kWh and S9 running custom firmware bringing it down to 71W per TH efficiency. The cost to mine 1 BTC is 8206.64$. Meaning its still profitable, one miner said. Considering the cost to mine Bitcoin for both big mining centers and individual miners can range in between $5,000 and $8,500, miners have more incentive to sell to cover operational costs rather than to hold onto the BTC they mine. According to data from ByteTree, Bitcoin miners did not sell much Bitcoin in the past week. Around 6,825 BTC were mined and 6,298 BTC were sold, leaving 527 BTC in net inventory.