The current Bitcoin price, which is above $ 5200, is once again profitable for Bitcoin miner (s).
This is said by economist and crypto-expert Alex Kruger, who has posted a table on Twitter that says that the effective cost of extracting BTCs is currently around $ 3550.
Kruger counted on his calculation that the average electricity price would be $ 0.055 per kWh. Obviously, depending on the region in which the minerals are located, this price may vary. For example, in December 2018, CoinGeek reported a price of $ 0.073 per KWh, which would result in a cost cost of $ 3580.
In the second half of 2018, due to the significant fall in the Bitcoin price, its extraction became a net loss issue. However, most of the major minerals continued to exploit the record losses, for which their long-term electricity rental agreements from their suppliers, the acquisition of expensive ASIC minerals, and the rental of large-scale mining operations forced them to do so.
Andreas Antronopoulos, who is considered to be one of the greatest cryptocenter experts, thinks it is difficult for minerals to abandon Bitcoin mining and does not believe that they would abandon this role, thus jeopardizing network security.
"Miners are unlikely to leave Bitcoin mining because they are looking at this process from a long-term perspective." This means that they have existing equipment investments and usually buy energy based on long-term plans, do not pay it every week. Therefore, even if they are to wait another three months until they are in profits, mining will not be shut down. ”
So many minerals continued to harvest, even though Bitcoin was in a record 16-month-long bear market.
Now that bitcoin mining is once again profitable (assuming it does not fall below $ 4,000), another miner could enter Bitcoin mining. Undoubtedly, the fact of the upcoming halving, that is, the reduction in the pay for the extraction of one block, will also lead them to this. Historically, this moment, which takes place on average every four years, has always led to a significant increase in the price of the BTC.
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