Analysts from Fundstrat Global Advisors conducted another study, which concluded that the cost of Bitcoin extraction was almost equal to its rate, and in some countries the miners already began to hardly beat the expenses for Bitcoin extraction and are forced to work "to zero," reports CNBC referring to the official statement of the FGA.
Tom Lee, CEO of Fundstrat Global Advisors, reports that his company's analysts calculated the profitability of Bitcoin mining, taking into account not only electricity costs but also other expenses. Such, for example, as regular maintenance and replacement of equipment. According to the calculations of the FGA, there will be no meaning in the mining, if all the expenses that Bitcoin's getter incur are equal to the rate of this crypto currency.
The FGA notes that at a price of about six cents per 1 kWh, the profitability of mining is already in question, but the miners also have to regularly service and change equipment. At the time the post was written, six cents cost about 3.5 rubles, which corresponds to the average price in Russia for 1 kWh.
Analysts came to the conclusion that in order for miners from other countries to successfully compete with large Bitcoin miners from China, the price for electricity should not exceed four cents per 1 kWh, but, according to FGA experts, before the mass curtailment of the activity of the miners still far away - for this, the price of Bitcoin himself should drop to 3-4 thousand US dollars and stay long enough at this level.
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