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The collapsed bitcoin, bitcoin mining unprofitable

Биткоин рухнул, майнинг нерентабелен

The collapse of prices for major cryptocurrencies have led to a collapse in the mining business. This is evident in the industrial sector, where there are major companies and in private, the profitability of which tends to zero. At the same time, experts say, mining as an industry declining due to the development of new technologies. In the near future is likely to be small companies and private miners will leave the market entirely, giving place to larger organizations that have the resources to technological and market restructuring of the business.

The value of bitcoin for the first time since September 2017 fell below $4 thousand In less than 11 months 2018 market capitalization of the world market of cryptocurrency decreased by more than 2.5 times, from $370 billion to $140 billion is Considerably lost in the price of all leading coins. In November, the capitalization of the bitcoins in less than a month fell by almost half, from $110 billion to $75 billion, the Second most popular cryptocurrency ether (Ethereum) fell in November by more than 39%, and its market capitalization fell to $12.5 billion.

This situation could not affect the mining industry. After the collapse of prices, tens of thousands of bitcoin mining devices have been disabled, as the production of the coin ceased to be profitable. Pessimism reigns among Russian miners. Last week the temporary suspension of mining activities in the farm due to “uneconomical in the current environment,” said a holding Russian Mining Coin (RMC).

Global sale used mining equipment capture and Analytics services free ads “Yula”. According to them, only 19 and 20 November, the number of ads on the sale of equipment for mining increased by 25%, while the fall of bid prices. If at the beginning of the year mining the farm was offered at an average of 240 thousand rubles., by November, the offer price was reduced to 150 thousand rubles. Similar dynamics in other segments. During the year the cost of finished solution for mining Asic Antminer decreased by 20% — from 140 thousand to 111 thousand rubles. More than 30% decrease in the average price of graphics cards — from 35.4 thousand to 24.3 thousand rubles.

Afford now mining as a business can only professional long-term investor. But in the current situation this is a risky idea, even for such an investor. Home miner as a class gradually disappears, because it can not compete with large companies. This is true for small market participants. Mining in the form in which it is now, is an interim solution. Small mining companies, in his opinion, will leave the market, the larger will adapt to the development of the technology, experts say.

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