Miners it’s time to “fold up shop”?

Analysts Fundstrat Global Advisors conducted another study, which concluded that the costs of mining Bitcoins is almost equalized with his course, and in some countries miners have already begun work to beat the cost of mining Bitcoins and are forced to work “to zero,” reports CNBC, citing an official statement FGA.

Tom Lee, CEO of Fundstrat Global Advisors, said that his company’s analysts had expected the profitability of Bitcoin mining, taking into account not only energy costs, but also taking into account other costs. For example, such as regular maintenance and replacement of equipment. According to the calculations FGA, meaning mining will not be, if all the expenditure incurred by the miner Bitcoin equal to the rate of the cryptocurrency.

FGA noted that at a price of about six cents per 1 kWh, the profitability of mining is already under question, but the miners have regular maintenance, change of equipment. At the time of writing this post six cents was worth about 3.5 rubles, which is consistent with the average across Russia the price for 1 kWh.

Analysts have come to the conclusion that in order for miners from other countries can successfully compete with the largest miners of Bitcoin from China, the price for electricity shall not exceed four cents per 1 kWh, but according to experts FGA, to the massive collapse of the miners are still far from the price of the Bitcoin should drop to 3-4 thousand dollars, and long enough to stay at this level.

We remind you that to discuss this and other news in our telegram chat. In addition, we have two more “talk”, dedicated to cryptocurrency and mining with hardware.

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