Does anyone think with bitcoin trending so low rn that the industrial miners might shut off their huge rigs and maybe it gets easier for us little axes to hit our blocks?
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Apr 09, 2025 9:11 pm
3 Replies
Apr 10, 2025 12:05 pm
It's possible. At whatever point it becomes cheaper to buy a bitcoin than to mine one, they will turn off their machines. Lottery miners of course don't do this cuz for us it's always cheaper to mine than to buy.. of course because we're just rolling the dice and crossing our fingers.
Apr 12, 2025 1:29 am
It's certainly possible. Just like Orrick said when mining costs are lower than bitcoin's market value, more miners will join. When mining costs are higher than miner's revenue, number of miners will decrease. Just to give some very general numbers, 6 months ago it cost about $78,000 to mine one bitcoin.. currently that figure is closer to $90K. Here's an interactive chart that shows the cost, past and present, of mining bitcoin https://en.macromicro.me/charts/29435/bitcoin-production-total-cost
Apr 13, 2025 11:46 am
I hope so!
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