Coinspeaker
Most Bitcoin Mining Rigs Now Unprofitable amid BTC Price Dip
Bitcoin (BTC) price has seen intense selling pressure this week, contributing to its fall to levels last seen a few months ago. The flagship cryptocurrency went below $54,000 recently, causing investors to feel jitters. At the time of this writing, BTC was trading at $54,266.04 with a 7.85% drop within the last 24 hours. The persistent fall of Bitcoin price has once again pushed many mining rigs out of profit.
Antminer And Avalon Bitcoin Mining Rigs in Profit
According to insights from a graph shared by mining giant F2Pool, only about five mining rigs are still recording gains from their operators. Precisely, the graph showed that four of Antminer’s various rigs and one Avalon rig are profitable. However, they remain so for as long as prices are above $53,100.
“At a rate of $0.08/kWh, ASICs less efficient than 23 W/T operate at a loss,” F2Pool said in a graph.
Other mining rigs are at a loss b
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