Mining a Bitcoin now costs just $13,000, the lowest since September

Deepak Gupta July 16, 2022
Updated 2022/07/16 at 7:05 AM

Cryptocurrency mining is already a concept that most users are familiar with. The practice of extracting digital currencies has gained popularity as crypto-assets have also increased in value.

However, with the value of cryptocurrencies showing discouraging numbers, the extraction of digital currencies is no longer an attractive activity, at least for some, while many others still hope that the situation will reverse. And, the most curious thing is that the fact that many have abandoned this practice, has facilitated the process, because according to the most recent information, currently mining a Bitcoin costs about 13,000 dollars, when a month ago this value was around 24,000 dollars. .

<!–

PUB

–>

With the emergence of cryptocurrencies, mining was one of the topics that most gained prominence in this segment. Just a few months ago, the news showed several large systems, from the most amateurs to the professionals, dedicated to the extraction of digital currencies. And even several internet cafes closed their doors to the public to use graphic equipment in this activity.

But the devaluation of cryptocurrencies has had an impact on this sector, and many miners have started selling their graphics cards in droves and leaving this activity as it no longer makes a profit.

It costs "only" $13,000 to mine 1 Bitcoin

And while many stopped mining, others remained faithful to the practice of extracting cryptocurrencies. Interestingly, fewer people mining facilitated this same activity. And the recent data indicate that currently mining a Bitcoin costs an average of 13,000 dollars, compared to 24,000 dollars it cost just a month ago. This value is therefore the lowest since the month of September last year.

Therefore, many miners then take advantage of the hash rate reduction and invest in more powerful equipment. And through the following chart we can also confirm the decrease in energy consumption from the month of June.

Via

With the reduction in the cost of earning 1 Bitcoin, miners end up feeling more motivated, as they are more likely to make a profit.

Currently, at the time of writing this article, a Bitcoin is worth 20,758.09 euros.

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,'script','https://connect.facebook.net/en_US/fbevents.js');
fbq('init', '1664527397186427'); // Insert your pixel ID here.
fbq('track', 'PageView');
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = "//connect.facebook.net/pt_PT/sdk.js#xfbml=1&version=v2.3&appId=122308327859118";
fjs.parentNode.insertBefore(js, fjs);
}(document, 'script', 'facebook-jssdk'));

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published.