Arcane Research: Bitcoin Miners’ Revenue Falls to 2020 Levels | news

According to analysts at Arcane Research, Bitcoin mining cash flow is down 80% from its peak in November 2021 to the levels of two years ago.

The company’s experts have pointed out that the state-of-the-art Antminer S19 ASIC miner generates around $13,000 per BTC mined at an electricity cost of $40 per MWh. As a result, taking into account the current price of the cryptocurrency, the device operates at a loss.

Subscribe to our telegram channel to get daily short digests about events that shape the crypto world

The company’s analysts have highlighted public mining companies usually have access to lower electricity rates. In addition, their equipment fleet consists of highly efficient devices.

Despite this, the miners sold 100% of the Bitcoins mined during the month in May. Since the beginning of the year, they have been selling between 25% and 40% of the mined cryptos.

According to experts at Arcane Research, in addition to the fall in prices, the increase in the Bitcoin hashrate and, consequently, in the complexity of mining, have also affected the profitability of the activity.

https://forexsites.info

Author of articles on trading and investments, which I have been doing for more than 8 years. Even from your phone, you can open a deal, buy shares, build up capital in assets that will bring dividends even when you stop working. You can't just not think about it.

Leave a Reply

Your email address will not be published.