With Bitcoin prices collapse they cost more than they are worth

0
714

With the last collapse of Bitcoin price producing Bitcoin has become more expensive than reselling them (except in China and countrires who can rely on low-cost sources of electricity), in according to analysts of JPMorgan Chase say in a report.
The main factor that determines the expense to ‘coin’ a bitcoin is precisely the electric bill, because the technology it requires a great calculation capacity. In the last quarter 2018 – experts write – the world average cost for a single Bitcoin has stood at 4 thousand dollars, while currently the cryptocurrency is trading around 3600 dollars. “The Chinese producers instead – explains Natasha Kaneva, one of the authors, reports from Bloomberg – may spend a lot less, the estimate is about $ 2400 for Bitcoin, making direct arrangements with energy producers trying to sell electricity in excess”.
If the margin still remains negative for a long time, report says, producers with the highest costs such as those in US, Czech Republic or Iceland, which currently remain the most active, will be expelled from the market.

LEAVE A REPLY

Please enter your comment!
Please enter your name here