FP91G (OP)
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November 09, 2023, 03:56:33 PM |
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The average cost to mine Bitcoin was negative ($6,141) in the third quarter, as compared to $8,227 per Bitcoin for the same three-month period in 2022. Earned $49.6 million in power curtailment credits during the quarter, as compared to $13.1 million in power curtailment credits earned for the same three-month period in 2022.https://www.riotplatforms.com/riot-platforms-reports-third-quarter-2023-financial-results-current-operational-and-financial-highlights/I'm shocked by this data. For a Russian apartment miner with an electricity price of 2 cents and a complete absence of additional expenses and taxes, the cost of bitcoin mining will be more expensive. What's the magic here?
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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philipma1957
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'The right to privacy matters'
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The average cost to mine Bitcoin was negative ($6,141) in the third quarter, as compared to $8,227 per Bitcoin for the same three-month period in 2022. Earned $49.6 million in power curtailment credits during the quarter, as compared to $13.1 million in power curtailment credits earned for the same three-month period in 2022.https://www.riotplatforms.com/riot-platforms-reports-third-quarter-2023-financial-results-current-operational-and-financial-highlights/I'm shocked by this data. For a Russian apartment miner with an electricity price of 2 cents and a complete absence of additional expenses and taxes, the cost of bitcoin mining will be more expensive. What's the magic here? they act as a statewide resistor for excess power on Texas power grid. but they shut off in the summer months and get a bonus for the power company. ie Jan-March they burn the states extra power April-June they burn the states excess power July-Sept they shut down farms to let the grid run air conditioners in peoples homes. Oct-Dec they burn the states excess power Note Texas is a large state with its own power grid. They have solar They have windmills They have flare gas generators so the state has excess power 9 months a year. and they sell it to riot but riot gets money to turn gear off in the 3 hot months
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FP91G (OP)
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November 10, 2023, 06:45:21 PM |
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This is an excellent practice, because in Russia they destroy electricity or reduce power at thermal power plants so that they produce less electricity. What do you think is the price of this electricity, if the riot company has such a low cost of Bitcoin mining?
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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safar1980
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Hire Bitcointalk Camp. Manager @ r7promotions.com
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November 14, 2023, 06:28:12 PM |
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other companies also show good results in the 3rd quarter. the cost of mining coins is at least 2 times less than the market price and mining companies continue to buy new ASICs before halving. How many bankruptcies will there be if the ETF in the US is not launched and the price of Bitcoin begins to fall?
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mikeywith
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be constructive or S.T.F.U
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November 14, 2023, 09:55:04 PM |
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How many bankruptcies will there be if the ETF in the US is not launched and the price of Bitcoin begins to fall?
We could ignore all the uncertainly surrounding the price movement and work with the incredible event of the halving, the halving is projected to take place around mid-April next year, probably sooner given the pace at which we are finding blocks, this means in 4.5 months rewards will be cut in half, what happens in the following weeks after the halving will be a survival of the fittest. Post that, nobody will come out as profile or as strong, the halving will leave a huge scar on every miner including those who manage to stay, because there is just no way on earth that a 50% reward reduction would cause a 50% drop in difficulty, it never happened and it will never happen, however, what happens 4-6 months past that is going to be key, many companies and even small miners will have to reevaluate their positions, things will get ugly if the price doesn't spike to compensate the loss in the rewards.
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FP91G (OP)
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November 15, 2023, 10:30:36 AM |
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Argo Blockchain capitalized on economic curtailment strategies at its Helios facility to accrue $4.4 million in power credits against high electricity prices, contributing to a mining margin increase to 58% in Q3 from 36% in Q2 2023.
Moreover, the company reduced the average direct cost per Bitcoin (BTC) mined by 33%, from $17,566 to $11,736. The firm also reported a reduction of 11% in recurring non-mining operating expenses and a positive Adjusted EBITDA of $3.1 million for the quarter, with a nine-month tally of $5.4 million.https://www.financemagnates.com/cryptocurrency/argo-blockchain-q3-revenue-clouded-by-net-loss-despite-cost-cuts/Argo Blockchain also benefits from the Texas Electric Demand and Response program.
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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FP91G (OP)
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February 22, 2024, 03:10:09 PM |
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Texas-based bitcoin mining firm Cormint reported that it mined 154 BTC in Q4, ending the year with a nameplate hashrate of 960 PH/s and 539 BTC on its balance sheet.
As a privately-owned bitcoin mining operation, Cormint joins a list of public peers in disclosing critical bitcoin mining operational statistics on a quarterly basis.
The company said in a release on Feb. 18 that it recorded a direct cost of bitcoin production of $9,463 per BTC mined in Q4, with a full-year average of $9,177 for mining a total of 510 BTC. Cormint claimed that its average power price was $28/mWh in 2023.
Factoring in other corporate overhead in addition to the direct cost of bitcoin production, Cormint reported an all-in mining cost of $19,255 per BTC for the full year of 2023.https://theminermag.com/news/2024-02-21/cormint-bitcoin-mining-cost/
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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Crypto Panter
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February 26, 2024, 08:21:17 AM |
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The last time I calculated the capitulating price for miners in post halving, it was at 37000$.
I am a Bitcoin mining expert and consultant and regarding my experience, the least energy price in the market is around 2.5 $cent/kwh (Which is quite rare!). so the minimum price typically starts from 3 $cent upto 4.5 $cent for industrial mining. (and 5$cent for smaller ones)... You whether need to buy in-scale capacity of electricty from power plant companies (50 MW or above) or you should be smart enough in finding intact/virgin places with cheap energy resources that are not affordable to be utilized in normal consitions!
The normal energy price for Bitcoin mining is sth in the range of 3-5 $cent....In the non-US countries, ususally the cheap source of energy is from Hydro plants...However, middle east is going to be a new player especially UAE! They can break the prices in below 3$cent
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FP91G (OP)
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February 28, 2024, 11:57:07 AM |
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The last time I calculated the capitulating price for miners in post halving, it was at 37000$.
I am a Bitcoin mining expert and consultant and regarding my experience, the least energy price in the market is around 2.5 $cent/kwh (Which is quite rare!). so the minimum price typically starts from 3 $cent upto 4.5 $cent for industrial mining. (and 5$cent for smaller ones)... You whether need to buy in-scale capacity of electricty from power plant companies (50 MW or above) or you should be smart enough in finding intact/virgin places with cheap energy resources that are not affordable to be utilized in normal consitions!
The normal energy price for Bitcoin mining is sth in the range of 3-5 $cent....In the non-US countries, ususally the cheap source of energy is from Hydro plants...However, middle east is going to be a new player especially UAE! They can break the prices in below 3$cent
Is $37,000 the price of surrender for miners after the halving of the entire world or for an individual country? or is this the average? I don’t know the mining conditions in many countries, but in Russia, even at a price of $30,000, miners will work with a profit after halving.
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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philipma1957
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March 07, 2024, 08:48:20 PM |
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s21 about 90 kwatts a day
so 10 cents is 9.00 9 cent is 8.10 8 cents is 7.20 7 cents is $6.30 6 cents is $5.40 5 cents is $4.50 4 cents is $3.60 3 cents is $2.70 2 cents is $1.80 1 cents is $0.90
200 th x 5 cents is $10.00
right now 67k price nets 11 cents
after the ½ ing we will be near 5 or 5.5 cents
so the s21 is tight at 67k and 10 cent power after the ½ ing as 10- 9 = 1 dollar
but if price was 44 it would earn around 6.60 a day and you would need 6 cent power
as 6.60- 5.40 = 1.20
lastly
at 33k
it would earn 5 a day
you would need 4 cent power as 5-3.60= 1.40
I doubt the net work is all s21 say 17 watts a th
the network is likely 20-22 watts a th or even 28 watts a th.
which makes for a lot more calculations.
also people will shut down.
the question is how many 6 cent places with s19 pro at 30 watts are there? as they are dead at the ½ ing.
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FP91G (OP)
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March 08, 2024, 01:11:08 PM |
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I’ll see what miners who have several containers of equipment write in chat. If we consider the average price of electricity, then in good places in Russia it is 3-4 cents. Miners will turn off some of the old equipment, but many have already received 21 series of ASICs and are ready for halving.
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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Crypto Panter
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March 14, 2024, 07:54:02 AM |
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The last time I calculated the capitulating price for miners in post halving, it was at 37000$.
I am a Bitcoin mining expert and consultant and regarding my experience, the least energy price in the market is around 2.5 $cent/kwh (Which is quite rare!). so the minimum price typically starts from 3 $cent upto 4.5 $cent for industrial mining. (and 5$cent for smaller ones)... You whether need to buy in-scale capacity of electricty from power plant companies (50 MW or above) or you should be smart enough in finding intact/virgin places with cheap energy resources that are not affordable to be utilized in normal consitions!
The normal energy price for Bitcoin mining is sth in the range of 3-5 $cent....In the non-US countries, ususally the cheap source of energy is from Hydro plants...However, middle east is going to be a new player especially UAE! They can break the prices in below 3$cent
Is $37,000 the price of surrender for miners after the halving of the entire world or for an individual country? or is this the average? I don’t know the mining conditions in many countries, but in Russia, even at a price of $30,000, miners will work with a profit after halving. Yes, it's the price that miners will surrender. but what it means?...it means the price cannot survive long below this price level and the price will be unstable! (it doesn't mean it cannot breach that level!) If you have access to energy prices below 2$cent/kwh then maybe you can mine profitably at 30000$!! but the average range of energy price for mining is something around 0.03-0.05 $cent/kwh...Tell me what is the industrial electricity price for energy in russia? And also we should bear in mind there are also other factors for profitability of mining which include: the purchase price of your ASICs, the lifespan of your miners, etc
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safar1980
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May 09, 2024, 01:30:16 PM |
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Bitcoin Miners Report Declines in Production as Profitability Slumps Mining Output Declines Hut 8 was not the only major Bitcoin mining firm to report a reduction in production. Other public mining companies such as Bitfarms, Cipher, CleanSpark, Core Scientific, Riot, and Terawulf also reported production declines of between 6% and 12% in April, according to industry outlet The Miner Mag. The halving event on April 20 reduced the block reward by half to 3.125 BTC, which also halved the mining output to around 450 BTC per day from 900. However, the BTC fee market briefly negated the impact of the halving when Bitcoin Runes were launched, pushing up demand for block space. Nevertheless, as the latest meme asset craze loses popularity, it is expected that BTC production rates may continue to decline and miner selling may increase. Please note that in the first month of halving, the profit of many companies fell by 6-12%.
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FP91G (OP)
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May 10, 2024, 12:57:03 PM |
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Bitcoin halving was on April 20, and the first days of halving there was a very large commission in the blocks, so it is too early to talk about a 12% decrease in income. I would look at the May, June and July statistics for more accurate data, because many miners are still in the process of replacing equipment.
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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DaveF
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May 10, 2024, 03:14:58 PM |
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As I posted elsewhere on the board. There is equipment in locations that are under contract. Many data centers don't care if you have 10 racks that are burning all the power you are contracted for or have 10 empty racks. So long as you are at or under the allocated power of what your contract says you are paying your fixed contract rate. So even if you are mining at a loss you will keep mining since you will have less of a loss generating some coins vs no coins.
So when looking at the overall picture without taking into account things like that having people mining at a loss seems illogical, but there are reasons.
-Dave
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philipma1957
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May 10, 2024, 03:41:39 PM |
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As I posted elsewhere on the board. There is equipment in locations that are under contract. Many data centers don't care if you have 10 racks that are burning all the power you are contracted for or have 10 empty racks. So long as you are at or under the allocated power of what your contract says you are paying your fixed contract rate. So even if you are mining at a loss you will keep mining since you will have less of a loss generating some coins vs no coins.
So when looking at the overall picture without taking into account things like that having people mining at a loss seems illogical, but there are reasons.
-Dave
Right now I can get some hosts for my gear. I could do 3 s19xps I could do 3 t21s modded to 230 volt 1 phase I could do 2 L7 units. About 26kwatts an hour. Small not big pay 7 cents. And a 2 year contract prepaid for six months. If I did that all that gear would mine since I am paying for that power for at least 6 months.
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Flamedog
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May 10, 2024, 06:51:07 PM |
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It is getting expensive indeed
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FP91G (OP)
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May 15, 2024, 02:36:36 PM |
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If you find a place with cheap electricity, then this is not the key to success in mining.Here's the story: US Kicks Chinese Crypto Miner Off Land Near Air Force Base Treasury says Wyoming land buy was a national security threat MineOne Partners Ltd. planned to use land for crypto mining
The US ordered a Chinese crypto mining company to vacate and sell a property it bought near a Wyoming Air Force base that houses intercontinental ballistic missiles, calling the firm a national security threat.
MineOne Partners Ltd. and its affiliated units and companies “might take action that threatens to impair the national security” of the US, the White House said in an order. The firm must divest the real estate it bought in 2022 near the F.E. Warren Air Force Base that houses US nuclear missiles.https://www.bloomberg.com/news/articles/2024-05-13/us-kicks-chinese-crypto-mining-firm-off-land-near-air-force-base
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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safar1980
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May 17, 2024, 02:51:33 PM |
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JPMorgan revises bitcoin production cost estimate to $45,000 JPMorgan has revised its central estimate of bitcoin production cost to $45,000 from the previous $42,000 projection amid a shift in bitcoin mining hashrate. "We previously anticipated a significant drop in the hashrate post halving as unprofitable bitcoin miners exit the bitcoin network. This appears to be happening, albeit with some delay," JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Thursday. "The current hashrate and power consumption put our central estimate of the bitcoin production cost to around $45,000, i.e., well below current prices" of around $65,000, the analysts added. In February, the analysts estimated the cost of producing one bitcoin to be $42,000. Consequently, they also estimated $42,000 as bitcoin's price target once the halving-induced euphoria subsides after April.
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stompix
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May 17, 2024, 03:05:07 PM |
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When asked if the updated bitcoin production cost estimate of $45,000 implies that JPMorgan expects the bitcoin price to rise to that level, Panigirtzoglou told The Block that while the current bitcoin production cost estimate stands at $45,000, it still maintains the $42,000 level for the medium term. Why do they keep with this stupid assumption? Bitcoin is not mining for coal or drilling for oil, you can't cut production, there will still be 450 Bitcoin mined every day, and you can't support the price if something is more expensive to mine, you will just have some miners quit and the ones in profit will keep on mining, mining cost will NEVER influence the price! If such thing were true then all the community would have to do is invest just 10 billion in gear and voila, the hashrate is doubled, the cost per Bitcoin is doubled do suddenly we're at 90k per coin and we have gained 500 billion in market cap, but things don't work like this! Price determines the hashrate, not the other way around.
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