Investment in mining of bitcoin more make no sense, argue analysts. The average price of this “kryptonite” on the market is $3600, which is much lower than $6500 a year earlier. But what is even worse for the miners — according to JPMorgan Chase & Co the cost of obtaining a single bitcoin has reached $4060. But why operate at a loss?
The rising cost of mining crypto-currencies almost everywhere in the world is associated with increasing costs of electricity. Somewhere miners simply imposed a new policy, forcing you to pay corporate rates, in other places mining farm has grown so much that their service no longer afford the previous owners. Here is the remarkable experience of China – the biggest miners moved and settled in the neighborhood of generation facilities of electricity, to get it directly, almost at cost.
As a result, the cost of generation of bitcoin for Chinese businessmen averages $2400, which is a lot more profitable rates for the rest of the world. And, probably not coincidentally, that is the General decline of mining in individual countries tended to increase – the Chinese experience is taken very fast. Even miners from the Western countries facing the most unfavorable conditions, do not rush to curtail the process they wait and hope for the best.
The aspirations of the miners because bitcoin is not dead, but only “cleansed”, it ceased to be random impulsive investors. He stopped being interesting and serious financial institutions, reduced the level of attention and pressure for money by different regulators. And if so, then bitcoin is once again ready to “rebirth” and a sharp take off — just need a good reason to start it. And this time, holders of the cryptocurrency intend to use such a case to the maximum.
Source — Bloomberg