Mining in China will be profitable even if the price of Bitcoin is halved

[Elermanus]

Mining in China will be profitable even if the price of Bitcoin is halved

China's mainers are not hampered by the growth of electricity tariffs and the drop in the price of the currency.

Bloomberg writes that Bitcoin-mining in China remains so profitable that even if the price of Bitcoin collapses in half, the miners will still make a profit. The profitability of mining is not affected by the growth of tariffs for electricity.

Mining in China remains profitable

Last year, the rise in the price of Bitcoin dramatically increased electricity consumption in the world, by increasing the number of computers used for mining, while 75% of these computers worked in China.

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[hopfi2k]

Mining in China will be profitable even if the price of Bitcoin is halved

China's mainers are not hampered by the growth of electricity tariffs and the drop in the price of the currency.

Bloomberg writes that Bitcoin-mining in China remains so profitable that even if the price of Bitcoin collapses in half, the miners will still make a profit. The profitability of mining is not affected by the growth of tariffs for electricity.

Mining in China remains profitable

Last year, the rise in the price of Bitcoin dramatically increased electricity consumption in the world, by increasing the number of computers used for mining, while 75% of these computers worked in China.

More

Even at $3.500! (well, not that profitable, but still...)

http://whattomine.com/coins/1-btc-sha-256?utf8=✓&hr=13500.0&p=1370.0&fee=1.0&cost=0.03&hcost=2340.0&btc_enabled=true&btc=3500&commit=Calculate

Cheers,
Andy

[jmigdlc99]

Yeah but what are you fighting for? Bitcoin mining is currently profitable not only in China but most other places in the world as well.

I would be more concerned about whether bitcoin mining will continue or be regulated in China.

This is also an altcoin mining sub forum btw.

[bithash.ch]

Yeah but what are you fighting for? Bitcoin mining is currently profitable not only in China but most other places in the world as well.

I would be more concerned about whether bitcoin mining will continue or be regulated in China.

This is also an altcoin mining sub forum btw.

Agreed,

That's most probably the reason, why BITMAIN just opened a subsidiary in Switzerland ;-)

[kanelor]

they did? I'm switzerland based and never heard of such a thing. Any details about it?

[Hotmetal]

they did? I'm switzerland based and never heard of such a thing. Any details about it?

http://bfy.tw/FzJm

You're welcome.