Opinion: Bitcoin mining will remain arrived in the long run – Bits Media

The fall of the crypto rush has led to a decrease in the profitability of the production of bitcoin and ether. but, According to the founder and general director of Polyswarm, In the long run, mining will remain profitable.

According to Steve Bass (Steve Bass), Now the cost of ASIC Mainers is from $8 000 up to $12,000. At the same time, the cost of electricity is also quite high - mining companies pay more than half of their profits for electricity. At current exchange rates, The equipment reaches self-sufficiency within five to six years. But, despite this, mining is still profitable and the prospects are quite bright:

"Looking at the long term, then the next halving on the Bitcoin network will take place in 2024 year. Therefore, miners can now mine coins, and sell after halving, when will the rate of the first cryptocurrency increase?.

but, if the price of BTC and ETH remains at current levels, then this will be bad for miners - most ASIC miners are not designed for such long-term operation. Within five years, operators will have to replace power supplies and coolers on a significant portion of devices. And some will fail forever.

Steve Bass praises new Antminer water-cooled devices. It is much more effective and, According to the expert, in the future, water-cooled ASIC miners will occupy a significant market share, competing with each other.

Previously, the Bitcoin Mining Council organization reported, that the share of energy from renewable sources, used for mining the first cryptocurrency, came close to 60%.