Should not blame them, they have to stay afloat too.
Xylber on
And Blackrock is there, with the millions of millions of dollars of fools buying ETFs, ready to buy whatever the miners sell.
And then you have the fools saying “I don’t care who controls it, I’m here to make a profit”, not realizing that they are destroying all the profits we could be making.
DrSpeckles on
Sooner or later the miners switch to something with a better return, then whole house of cards comes tumbling down.
coinfeeds-bot on
tldr; Bitcoin miners are facing high production costs, with the price to produce one BTC reaching up to $75,000. Despite operating at a loss, miners continue to work at high hashrates. Many are pivoting to AI services to utilize existing electricity contracts. The cost of mining has surpassed earnings since May 2024, leading to thin margins and decisions on whether to hold or sell coins. Miners are also diversifying revenue streams by expanding data center capacities and securing energy contracts, with some corporate miners seeing significant growth.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
andrewsayles on
The beauty of Bitcoin is this always works itself out.
Some miners will go out of business and the amount of miners will decrease. With less miners, there will be more rewards available up for grabs.
The survivors always leave more profitably than they started
6 Comments
Should not blame them, they have to stay afloat too.
And Blackrock is there, with the millions of millions of dollars of fools buying ETFs, ready to buy whatever the miners sell.
And then you have the fools saying “I don’t care who controls it, I’m here to make a profit”, not realizing that they are destroying all the profits we could be making.
Sooner or later the miners switch to something with a better return, then whole house of cards comes tumbling down.
tldr; Bitcoin miners are facing high production costs, with the price to produce one BTC reaching up to $75,000. Despite operating at a loss, miners continue to work at high hashrates. Many are pivoting to AI services to utilize existing electricity contracts. The cost of mining has surpassed earnings since May 2024, leading to thin margins and decisions on whether to hold or sell coins. Miners are also diversifying revenue streams by expanding data center capacities and securing energy contracts, with some corporate miners seeing significant growth.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The beauty of Bitcoin is this always works itself out.
Some miners will go out of business and the amount of miners will decrease. With less miners, there will be more rewards available up for grabs.
The survivors always leave more profitably than they started
$75k production cost?
Pump confirmed!