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