"We estimate the break-even point for big mining pools should be US$8,600, even if we assume a very low electricity cost (US$0.03 kW/h)," Equity Analyst Charlie Chan and his team said in a Thursday note.
"Therefore, we think the Bitcoin mining hardware demand and price will decline further and affect TSMC's wafer demand," the report said.
If bitcoin can't recover $8,600 soon, bitcoin "miners" will likely find it unprofitable to keep creating the cryptocurrency, Morgan Stanley analysts said.
Bitcoin traded slightly higher near $8,200 on Thursday, according to CoinDesk. It has struggled to recover in the last few months after tumbling from a record high above $19,000 in mid-December.
"We estimate the break-even point for big mining pools should be US$8,600, even if we assume a very low electricity cost (US$0.03 kW/h)," equity analyst Charlie Chan and his team said in a Thursday note.
Hey @vipinrana, the markets are pretty crazy right now. Crypto is back to a weird space but I know long term it's still what we're all hoping it will be! Cheers
yeah hope so it will surely make a sence in future @exxodus and please upvote this post