Mar 18, · Although the cost to mine one Bitcoin varies geographically based on electricity rates, the recent selloff has largely made it unprofitable for miners to continue their normal operations. As such, many smaller miners have shut off their rigs, subsequently leading the cryptocurrency’s hashrate to . If it becomes unprofitable, a miner either upgrades their tech, moves where power is cheaper, or they quit. When miners quit, mining becomes more profitable for those left, and those with the cheapest power and/or best tech benefit the most. In short, bitcoin mining will always be profitable for someone, so long as bitcoin itself remains valuable. Dec 01, · Bitcoin mining began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes, mining from their bedrooms. Successfully mining just one Bitcoin block, and holding onto it since would mean you have $, worth of bitcoin in your wallet in
Bitcoin unprofitableBuying Bitcoin Has Only Been Unprofitable in 10 Days of its History: Report | Cryptoglobe
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