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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h295">Miners, you are welcome in Venezuela, Kuwait, and Uzbekistan</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h345">Difficulty rises, break-even price follows</a></li></ul>
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Jacob Canfield, trading analyst and founder of SignalProfits analytical service, allayed fears about the unprofitability of Bitcoin (BTC) mining below $8,000. According to him, the crypto king has other shoes to fall.
Miners, you are welcome in Venezuela, Kuwait, and Uzbekistan
Yesterday, analysts from the well-known Bitcoin (BTC) mining pool, F2Pool, published their calculations of the break-even price for Bitcoin (BTC) mining with different ASICs. According to them, with the popular Antminer S9, mining is profitable when the orange coin trades above $7,518 while consuming electricity at $0.05/kWh.
<a rel="nofollow" target="_blank" href="#">card</a>
Jacob Canfield highlighted the last words of this prediction. He listed five countries with very cheap electricity and called them the ‘top 5 places to mine Bitcoin’:
<blockquote class="twitter-tweet">
As the price of <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw">#bitcoin</a> drops, the efficiency of the markets will take over
Here are the Top 5 Cheapest places to mine Bitcoin
1. Venezuela—$531
2. Trinidad and Tobago—$1,190
3. Uzbekistan—$1,788
4. Ukraine—$1,852
5. Kuwait—$1,983
Many can mine above $4,000 and be profitable.
— Jacob Canfield (@JacobCanfield) <a rel="nofollow" target="_blank" href="https://twitter.com/JacobCanfield/status/1237217653279907841?ref_src=twsrc%5Etfw">March 10, 2020</a></blockquote>
As for the less exotic options, Mr. Canfield is sure that the critical level is $4,000 for the price of Bitcoin (BTC). If it trades above that, mining operations are profitable for ‘many’ entrepreneurs.
Difficulty rises, break-even price follows
By the way, with the last mining difficulty adjustment, this indicator surged almost 7% yesterday. With this new input, the owners of Antminer S9 can make profits off their occupation only when the Bitcoin (BTC) price is above $8,037. Also, this adjustment didn’t go unnoticed for the operators of Canaan AvalonMiner 821 as they began bearing losses.
<em>Image via <a rel="nofollow" target="_blank" href="https://twitter.com/f2pool_official/status/1236984648544079873/photo/1">Twitter</a></em>
This adjustment led to a new all-time high of this indicator. <a href="https://u.today/bitcoin-btc-mining-difficulty-hits-new-all-time-high">It increased by roughly 7%</a>, from 15.48 TH to 16.55 TH while the previous peak was 1 TH lower.
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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h295">Miners, you are welcome in Venezuela, Kuwait, and Uzbekistan</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h345">Difficulty rises, break-even price follows</a></li></ul>
Advertisement
Jacob Canfield, trading analyst and founder of SignalProfits analytical service, allayed fears about the unprofitability of Bitcoin (BTC) mining below $8,000. According to him, the crypto king has other shoes to fall.
Miners, you are welcome in Venezuela, Kuwait, and Uzbekistan
Yesterday, analysts from the well-known Bitcoin (BTC) mining pool, F2Pool, published their calculations of the break-even price for Bitcoin (BTC) mining with different ASICs. According to them, with the popular Antminer S9, mining is profitable when the orange coin trades above $7,518 while consuming electricity at $0.05/kWh.
<a rel="nofollow" target="_blank" href="#">card</a>
Jacob Canfield highlighted the last words of this prediction. He listed five countries with very cheap electricity and called them the ‘top 5 places to mine Bitcoin’:
<blockquote class="twitter-tweet">
As the price of <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw">#bitcoin</a> drops, the efficiency of the markets will take over
Here are the Top 5 Cheapest places to mine Bitcoin
1. Venezuela—$531
2. Trinidad and Tobago—$1,190
3. Uzbekistan—$1,788
4. Ukraine—$1,852
5. Kuwait—$1,983
Many can mine above $4,000 and be profitable.
— Jacob Canfield (@JacobCanfield) <a rel="nofollow" target="_blank" href="https://twitter.com/JacobCanfield/status/1237217653279907841?ref_src=twsrc%5Etfw">March 10, 2020</a></blockquote>
As for the less exotic options, Mr. Canfield is sure that the critical level is $4,000 for the price of Bitcoin (BTC). If it trades above that, mining operations are profitable for ‘many’ entrepreneurs.
Difficulty rises, break-even price follows
By the way, with the last mining difficulty adjustment, this indicator surged almost 7% yesterday. With this new input, the owners of Antminer S9 can make profits off their occupation only when the Bitcoin (BTC) price is above $8,037. Also, this adjustment didn’t go unnoticed for the operators of Canaan AvalonMiner 821 as they began bearing losses.
<em>Image via <a rel="nofollow" target="_blank" href="https://twitter.com/f2pool_official/status/1236984648544079873/photo/1">Twitter</a></em>
This adjustment led to a new all-time high of this indicator. <a href="https://u.today/bitcoin-btc-mining-difficulty-hits-new-all-time-high">It increased by roughly 7%</a>, from 15.48 TH to 16.55 TH while the previous peak was 1 TH lower.
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Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
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twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
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Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
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Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
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Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
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Arman Shirinyan
Alex Dovbnya
