$2.4k Is a Lower Point of BTC Mining Profitability

Bitcoin mining profitability research was concluded by DMG Blockchain Solutions
26 March 2018   935

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.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   103

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.