Profit Margin for Miners is negative 627%????

[hedge29]

That doesn't make sense...what am I missing?

Statistics from this site: https://blockchain.info/stats

Total Miners Revenue
$3,983,985.75

Electricity Cost
$18,279,390.56

Operating Profit
$-14,295,404.81

Operating Margin
-358.82%

Profit Margin
-627.96%

All statistics are for the previous 24 hour period unless otherwise stated

[Authentic]

I don't think they can take into account the real costs of every miner in the world. Each one has a different cost of electricity, and is using different mining hardware (which they have no way of knowing). So I wouldn't take it too seriously.

[JeyKey]

Mining sponsored by electricity producers 

[pand70]

Code:

* Electricity consumption is estimated based on power consumption of 650 Watts per gigahash and electricity price of 15 cent per kilowatt hour. In reality some miners will be more or less efficient. 

Obviously they haven't updated their estimations for asics.

[rc2ZxiCUxP3AiztOBJKwlhYk]

Mining on a GPU still has pretty good margins for the scrypt based coins. Mine them then trade for BTC.

[BlockChainLottery]

Code:

* Electricity consumption is estimated based on power consumption of 650 Watts per gigahash and electricity price of 15 cent per kilowatt hour. In reality some miners will be more or less efficient. 

Obviously they haven't updated their estimations for asics.

Yep, nowadays it's about 5W/Ghash.

[pand70]

Code:

* Electricity consumption is estimated based on power consumption of 650 Watts per gigahash and electricity price of 15 cent per kilowatt hour. In reality some miners will be more or less efficient. 

Obviously they haven't updated their estimations for asics.

Yep, nowadays it's about 5W/Ghash.

Some of the 28nm ones are below 1w/gh already

[Zequre]

Code:

* Electricity consumption is estimated based on power consumption of 650 Watts per gigahash and electricity price of 15 cent per kilowatt hour. In reality some miners will be more or less efficient. 

Obviously they haven't updated their estimations for asics.

Yep, nowadays it's about 5W/Ghash.

Some of the 28nm ones are below 1w/gh already

650W lol?
That is so dated.

[Reece523]

Yeah the electricity figure isn't accurate at all. There are bitcoin mining profitability calculators out there (via Google) that you could use to see what kind of return you may be able to expect with certain hardware.

[medoutil]

plzzz help i don t know how to post in this forum

[gripflierGO]

Not updated, electricity cost does not take big cut from Bitcoin mining, the only problem is initial investment