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FBG Capital: mining is not profitable when Bitcoin is $6000

06 February 2018 21:00, UTC

Financial analysts from the traditional media sources together with private investors note that the current prices of Bitcoin are not beneficial for miners of the world. For example, Zhou Shuoji from FBG Capital categorically states that mining was no longer profitable if one buys mining hardware right now.

While the jump of prices indeed affected miners because the cost of hardware cannot be covered from the mining revenue in two months as it often happened before, those who made long-term plans and settled down to mine in the regions with cheap electricity are now one of the most successful groups of miners when it comes to volatility resilience.

Bitnewstoday has composed its very own map of electricity prices around the world as well. According to it, miners from Russia and Kazakhstan are now in a much more beneficial conditions than their American counterparts. But the residents of Wenatchee, previously not very famous American town, might have something to say about it: power prices are even cheaper there than in the most mining-profitable Russian regions.