16 Bitcoin mining companies have over $4.7 billion in losses in a year, according to public reports.
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16 Bitcoin mining companies have over $4.7 billion in losses in a year, according to public reports.
Read the full/original report on Finbold:
https://finbold.com/16-bitcoin-mining-companies-have-4-47-billion-in-losses-in-a-year/
Amid a challenging 12 months for Bitcoin (BTC), the Bitcoin mining industry is also struggling to keep its operations going with negative reported earnings.
MacroMicro registered an average cost of $45,877 per mined BTC, against a spot price of $26,089 on August 27 — accounting for a loss of $19,588 per 1 BTC mined.
The block subsidy halving is coming in 2024, impacting even more miners’ profitability, as well as the Bitcoin network decentralization, security, and value perception.
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