Home Bitcoin News Bitcoin Mining As Bitcoin Worth Slides, Older Mining Rigs Are Turning into Much less Worthwhile – CoinDesk

As Bitcoin Worth Slides, Older Mining Rigs Are Turning into Much less Worthwhile – CoinDesk

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Miners that use {hardware} in the identical class as Bitmain s9s with vitality costs over 5 cents are more likely to capitulate, Denis Rusinovich, co-founder of CMG Cryptocurrency Mining Group and Maverick Group, informed CoinDesk. That may entail powering off their machines or promoting them. Ethan Vera, chief economist and working officer at Luxor, which runs a trading desk for mining rigs, agreed, saying that as a result of S9s are nonetheless promoting for $150-$300 per unit, mining farms would possibly decide to promote them,

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