Analysts from Fundstrat Global Advisors conducted another study, which concluded that the cost of Bitcoin mining was almost equal to its rate, and in some countries, the miners already began to hardly beat the expenses for Bitcoin extraction and were forced to work "at zero" , Reports CNBC with reference to the official statement of the FGA.
Tom Lee, CEO of Fundstrat Global Advisors, reports that his company's analysts calculated the profitability of Bitcoin mining, taking into account not only electricity costs but also taking into account other costs. Such, for example, as regular maintenance and replacement of equipment. According to the calculations of the FGA, there will not be any sense in the mining if all the expenses that Bitcoin's earnings bring are equal to the rate of this crypto currency.
The FGA notes that at a price of about six cents per 1 kWh, the profitability of mining is already in question, But the miners also have to regularly service and change equipment. At the time of writing, six cents cost about 3.5 rubles, which is in line with the average price in Russia for 1 kWh.
Analysts came to the conclusion that in order for miners from other countries to successfully compete with large Bitcoin miners from China, the price for electricity should not exceed four cents per 1 kWh, but, according to experts from the FGA, before the mass curtailment of the activity of the miners is still far away – for this, the price of Bitcoin himself should drop to 3-4 thousand US dollars and hold on long enough at this level.  659003] We remind you that we can discuss this and other news in our