Miners are saying that if Bitcoin falls below $5,000 mining will be no longer profitable.
Cryptocurrency miners have spent time, effort and money searching for real estate for cryptocurrency mining. Data centers based in real estate that is found in areas with cold weather and cheap electricity have brought miners a lot of profits in the past few years. Some of the most prominent crypto mining operations, have even began selling shares to the public on the stock exchange and begun to consolidate the market by buying out smaller competitors and their data centers. But some miners are finding it hard to turn a profit in recent months.
Most of the big mining data centers are doubling down though. They believe that the solution is to double their efforts and that the market will rebound from the last Bitcoin crash.
The fact is though that there are plenty of companies in need of data centers that do things other than mining cryptocurrencies such as Bitcoin. The AI industry for instance is a data monster that needs huge data centers for their programs and experiments.
Miners are saying that if Bitcoin falls below $5,000 mining will be no longer profitable.
Most dedicated miners believe that cryptocurrencies are here to stay and so is mining, but if the mining becomes less profitable, they will look for other sources of income for their data centers until the markets start to climb again.
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