Crypto mining still profitable in the long-term, expert says
Steve Bassi said that a long-term holder may do well mining in the short run and then selling when the block reward goes down in 2024. From the great migration to the bear market, crypto miners went through many challenges throughout the year including a shift in profitability. However, according to Steve Bassi, an expert in Bitcoin (BTC) and Ether (ETH) mining, crypto mining may still be profitable if we look at its long-term prospects. As the costs of application-specific integrated circuit (ASIC) miners hover around $8,000 to $12,000, and electricity costs take up more than half of the....
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While bitcoin prices have slid in value and the high network difficulty, the leading crypto asset is still quite profitable to mine according to current data. Despite the profitability, these days there are only a few manufacturers producing application-specific integrated circuit (ASIC) machines. Microbt, Bitmain Sell the Most Profitable Bitcoin Miners on the Market, But Product Is Sold Out Across the Board Bitcoin (BTC) prices have seen some significant losses during the past two weeks but network participants, particularly bitcoin miners, continue to support the cryptocurrency network.....