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RE: LeoThread 2024-07-05 09:35

in LeoFinance7 months ago

Very Few Bitcoin Mining Machines Profitable Below $56,000: F2Pool Data

#newsonleo #bitcoin #crypto #mining

An interesting report reveals the alarming reality of how profitable mining machines are relative to the current price.

On July 5th, Bitcoin fell below $54,000, experiencing a decline of over 6% in the past 24 hours due to increasing bearish pressure. The market downturn intensified after Mt. Gox, an early cryptocurrency exchange that went bankrupt over a decade ago, started to repay its customers following a lengthy bankruptcy process.

The latest downturn has rendered several Bitcoin mining machines unprofitable.