Mining Bitcoin is unprofitable as of today, since the costs of mining this cryptocurrency have begun to exceed its exchange rate. Mining companies are reporting bankruptcy.
In the United Kingdom, construction of the largest bitcoin mining enterprise has been suspended, and the Chinese mining equipment manufacturers Ebang, Canaan, and Bitmain, which had planned to list their shares on the Hong Kong stock exchange, have postponed their IPOs, the Financial Times (FT) writes, citing mining companies and private miners.
Nvidia, which sold graphics cards for mining, has closed its crypto division. The American mining company Gigawatt declared bankruptcy in November.
In order for a miner to make a profit, the price of Bitcoin must be at least 5 thousand dollars, the FT writes, citing unnamed experts.
In December of last year, the bitcoin exchange rate on some cryptocurrency exchanges exceeded even 20 thousand dollars. The current drop reaches 80 percent of the cryptocurrency's maximum value
