[2017-01-10]Bitmain says price hike increased interest in mining

[hl5460]

The recent spike in the price of Bitcoin increased interest in Bitcoin mining which seems to have dwindled after the block reward halving in July.

According to the International Marketing Manager at Bitmain, Nishant Sharma, Bitcoin mining has continued unaffected by the block halving but the recent push in the price of Bitcoin in the first few days of 2017 drew more interest to the sector.

http://news.8btc.com/bitmain-says-price-hike-increased-interest-in-mining

[1Referee]

It's normal that when the price goes up big time, mining becomes more interesting than it already was. Not sure what's so exciting about this as basically everyone can figure this out. If the price remains at current levels, and I mean without moving much in up or down direction, then I am fairly sure that the difficulty will go up further. $900 is a welcome price with current block rewards. $1000-$1100 is like a gift. Especially for the well known farms.

[Papa Bear]

 A rising Bitcoin price reduces the time it takes for miners to break-even and so makes mining more profitable.

[chesatochi]

The more the price will get higher, more people will invest in mining operations in order to have some profit from it. In the contrary, if the price goes down, people will sell they mining equipment on craigslist or other sites of this kind.

The real motivation is the incentive to get the bitcoins every 10 minutes and the fee from sending bitcoins over the network.