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.
