$2.4k Is a Lower Point of BTC Mining Profitability

Bitcoin mining profitability research was concluded by DMG Blockchain Solutions
26 March 2018   1957

DMG Blockchain Solutions calculated the price of bitcoin, below which the mining will become unprofitable. According to analysts of the company, the  point is at the level of $ 2400. This is reported by The Merkle.

We outline the simple math for mining bitcoin on an operating basis (i.e. excluding capital costs), with a market assumption of 7c per kW-hr operations costs (mainly electricity). With the below calculation, the cash breakeven is currently about $2,400 – this is far below the current price. Generally capital moves around to mine the most profitable coins, which means that the market generally finds profitability equilibrium among mined coins in the long run.
 

Steven Eliscu 

VP, DMG Blockchain

 Every day the bitcoin network generates about 2100 coins. The DMG calculated that the earnings for 1 PH / s is 0.084 BTC. If the price of electricity does not exceed the specified 7 cents, and the bitcoine rate is above $ 2,400, then the mining is profitable, the company is confident.

However, it should be emphasized that in order for the model to work, it is necessary to observe ideal conditions. Moreover, not every miner can afford to produce 1 PH / s. The study, however, indicates that the major mining companies are currently confidently on their feet.

Argo Blockchain to Report on x10 Revenue Increase

For the 2019, the company received Bitcoin mining revenue of £ 8.5 million, in 2018 it was £ 760,000
20 January 2020   97

Bitcoin mining company Argo Blockchain said this Monday that its revenue from its core business in 2019 increased 10 times. According to a press release on the website of the London Stock Exchange (LSE), where Argo shares are traded, for the first full year in business, the company received revenue of £ 8.5 million compared to £ 760,000 in 2018.

Argo listing on the main LSE market took place in August 2018. The data presented were not audited - the reports after the audit will be available in April.

The company clarifies that in the fourth quarter of 2019, it mined 432 bitcoins, which is six bitcoins higher than in the third quarter. However, in the last quarter, the company's revenue fell to £ 2.66 million, while in the third quarter it was £ 3.63 million.

Our mining operations continued to generate industry-best mining margin in the last quarter despite a softening in market conditions from the previous quarter. Our state-of-the-art mining platform is performing as expected and with the expansion of our mining network on pace, along with the recent rise with the price of Bitcoin, Argo is well-placed for a strong year ahead.

 

Peter Wall

Argo Blockchain CEO

 The company is increasing mining capacity in anticipation of halving and currently has 13,364 devices, including 6,375 Bitmain Antminer T17s, which were installed on January 1. By the end of the quarter, Argo intends to add another 3,625 of the same miners. It is estimated that with a full set of 17,000 devices, its computing capacity will exceed 650 petaheches.