BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   321

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.

Hut 8 to Unveil BTC Mining Cost Price in 2018

In 2018, company produced 5592 BTC; in the first quarter, the mining of one BTC cost $2055, and in the fourth quarter it reached $3995
07 May 2019   219

Mining Company Hut 8 Mining Corp. published a financial report for the last year, in which it disclosed data on the growth of the cost of Bitcoin production in each quarter.

In 2018, the company produced 5592 BTC, however, during this period, the cost of activity increased significantly. In the first quarter, the mining of one Bitcoin cost $ 2055, and in the fourth quarter $ 3995, which had a very negative impact on the margin.

Hut 8 Management’s Bitcoin Outlook
Hut 8 Management’s Bitcoin Outlook

At the same time, operating losses in the last quarter of 2018 were $ 116.56 million. This was probably due to a sharp fall in Bitcoin exchange rate in November.

Bitcoin Farm of Hut 8 is located in the Canadian Medicine Hut. There are also mining data centers built in conjunction with the Bitfury Group.

We note that recently the hash rate of the first cryptocurrency updated the six-month maximum. Such dynamics are most likely related to the re-integration of the old Antminer S9 models into the network, which again began to bring profit to the owners.

It is expected that in the summer in some provinces of China, tariffs for hydropower will decrease, allowing even more miners to do business.