|
Title: BTC and LTC aren't the only ones with mining profit difficulties Post by: mercSuey on June 14, 2013, 11:06:44 PM Current gold prices have some mining companies' mines turning a loss:
http://www.forbes.com/sites/kitconews/2013/06/14/feature-is-it-sustainable-to-mine-gold-in-this-current-price-environment/?partner=yahootix We've also seen similar phenomenon in the iron ore industry, as those mines based off of older (more costly) technology are forecast to be shut down by the end of 2014. Checkout Cliffs Natural Resources Inc. stock price from past 2 years: http://finance.yahoo.com/echarts?s=CLF+Interactive#symbol=clf;range=2y;compare=;indicator=volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=off;source=undefined; Nevertheless, since my cost of electricity is about $0.10 kwh, I foresee mining LTC (and all altcoins) with my 12 7970 gpu setup staying in the black for awhile... |