Norway to Deprive Miners of Electricity Concessions

Northern Bitcoin reports the cost of mining one bitcoin in Norway is about $ 7,700
22 November 2018   385

In the state budget of Norway for the next year there are no special preferential conditions for the mining industry. So, from January 2019, the miners will be forced to pay at standard rates, reports Forbes, citing local sources.

If now the price of a kilowatt for miners is about $ 0.05, then in January it will increase to $ 1.94. Northern Bitcoin reports the cost of mining one bitcoin in Norway is about $ 7,700. In China, for example, this figure is significantly lower - $ 3,100.

Norway can not continue to provide huge tax incentives for the most dirty form of cryptographic output as bitcoin. It requires a lot of energy and generates large greenhouse gas emissions globally.
 

Lars Haltbrekken

Parliamentary representative, Norway

Earlier, mining enterprises in the Chinese provinces of Xinjiang and Guizhou suspended their work at the time of the tax audit, and the network hashrate fell by almost 20%.

Chinese Miners to be Driving Force of Bear Market

Miners are playing short in order to get some profit
07 December 2018   114

As the 8btc notes, the new generation of miners are less likely to keep mined coins, preferring to hedge price risks by opening short positions.

To survive the notorious “cryptocurrency winter”, miners increasingly have to become experts of the financial market and risk managers, using the maximum functionality of trading platforms. Short positions sometimes harm the miners themselves, struggling to maintain profitability.

Everyone is short-seller, we do this for self-defense but that will lead to a further decline in cryptocurrency price… Without short selling, we will be eliminated ultimately, but if everybody keeps doing this, we will finally die together, which is quite heroic.
 

Jin

Miner, China

As noted by jin, he mines cryptocurrency partly on video cards. Miner began operations in October 2017. According to him, in the first two months, Jin Xin earned more than in the past three years in other areas of activity.

However, this year the situation has changed dramatically and the miner had to develop his own strategy for surviving in a bear market. To build capacity, he bought cheaply used GPU farms from those who wished to quit the game. Immediately after the price fell below the break-even point, Jin turned off the farm and sold the video card to video game lovers. After waiting for some price recovery, he again bought up video cards in the secondary market and sold them to miners.