After a dip that coincided with when the stock securities industry go down ( remember when Bitcoin was suppose to be a hedge against market volatility ? ) , the cryptocurrency is pushing back up toward its all - time high . Despite that , it seems that mining for the cryptocurrency is no longer worth it , even for some larger excavation operations . agree todata late publish by CoinShares , the cost of electricity and computational index require to mine for Bitcoin now often exceeds the real time value of the coin .
Here ’s how the math break down : For large excavation companies , it now cost over $ 82,000 to mine a individual Bitcoin , which is currently valued at about $ 95,000 at the clock time of issue . That is still technically profitable , though the margins have let mighty thin compared to where they were even just one quarter ago . It be about $ 56,000 in the third twenty-five percent of 2024 to do the necessary computational calculations to mine for a Bitcoin , per CoinShares , so that price has jumped about 47 % in just a few months .
Of course , most hoi polloi are not industrial miners . For smaller organizations , the equation leaves them underwater . For mineworker in the US who are operating at anything light of a monumental musical scale , it is estimated the price is nigh to $ 137,000 spent to mine for a single BTC . If you ’re doing your excavation in Germany , the mathematics gets worse : it ’ll go about $ 200,000 for a single coin . Neither monetary value comes nigh to even Bitcoin ’s all - clip senior high school , meaning you ’ll have to take a loss up front and keep , hope the cryptocurrency rocket to new highs in the futurity .
An image of physical coin representing Bitcoin cryptocurrency© Liu Junfeng/VCG via Getty Images
The “ why ” of that sudden monetary value discrepancy has a few prong to it ( and it ’s worth noting that some have argued themath on mining has n’t run for a while now ) . The first is the lift cost of electricity , an result that ishitting the United Statesand many Carry Amelia Moore Nation overseas — the result of pompousness , Trump ’s craft state of war , andincreased demand from in high spirits - usage technologieslike artificial intelligence . Those tariffs are also aim up thecost of mining equipment , too . There is also the fact thatBitcoin halved about a year ago , a process that lowers the payoff for minelaying and is designed to slow down the pace of newfangled coins entering the market . So it ’s getting more expensive to mine and there is less payout for doing so .
For most people , nothing of note value will be lost by Bitcoin mining ceasing to be profitable . But it does potentially exacerbate Bitcoin ’s haves and have - nots problem . For a currency that is opine to be decentralise and some sort of equalizer in a way that fiat is n’t , the wealth has largely accumulated at the top . According to BitInfoCharts , the top 1 % of billfold name and address hold more than 90 % of all BTC in circulation . If mining were ever an equalizer , it certainly is n’t now , yield the monetary value . The rich get racy .
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