Crypto Miners to Sell Mining Devices by Weight in China

Additionally, F2Pool founder reports that tens thousands of devices were turned off after price drop
23 November 2018   955

The founder of the sixth largest mining pool F2Pool published a video in which a huge number of mining devices are simply unloaded onto each other near an unknown building. He also shared a photo of a person who allegedly sells or buys miners by weight from his WeChat account.

Note that some users are convinced that the video and photos captured the effects of the June floods in Sichuan province, when several large mining farms were allegedly destroyed.

The founder of F2Pool added that he was not sure exactly when the video was shot, but shared photos from his own sites, and said that tens of thousands of devices were disconnected, since bitcoin mining for some people was no longer profitable after the recent price collapse.

Hashrate of the Bitcoin network has shown a significant drop in the last 30 days. 

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   226

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.