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Market Cap:
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Cryptocurrencies: 24124
Bitcoin Bitcoin Share: 60.08%
Markets: 101160
Bitcoin.com
2022-12-31 19:00:09

Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices

Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices

Bitcoin miners have had a challenging year as the network’s mining difficulty reached an all-time high and the spot market price of bitcoin dropped below the cost of production. Currently, with electricity costs at $0.07 per kilowatt-hour (kWh), only 18 application-specific integrated circuit (ASIC) bitcoin mining rigs are able to turn a profit at current

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