The cost to mine 1 $BTC Mining Bitcoin costs money, and it

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The cost to mine 1 $BTC Mining Bitcoin costs money, and it's getting pricier for miners considering the most recent reward halving. CoinShares tells us it's about $53,000 to mine one Bitcoin these days, and that's an average that large mining companies spend on one BTC. For those who don't know, halving means miners get half the Bitcoin they used to get for decoding blocks that contain data about the Bitcoin network. Because they'll be getting less Bitcoin, what it costs to run their mining machines, mostly the electricity, could feel like it's doubled. There's a bright side, though. Some smart miners are moving to places where they can get cheaper, often wasted energy, like gas that would be burned off anyway. They are starting to mine in countries where energy is stable and not so expensive. This could be a game-changer that would fuel the network in the foreseeable future. The cost of $BTC must be trading above a certain price in order for mining to be profitable. #BitcoinMining #MiningOpportunity #bitcoinhalving #BitcoinHalvingTrends #BullorBear Follow our twitter 👉 @fomoguru

The cost to mine 1 $BTC 
Mining Bitcoin costs money, and it's getting
pricier for miners considering the most
recent reward halving. CoinShares tells us
it's about $53,000 to mine one Bitcoin
these days, and that's an average that
large mining companies spend on one BTC.
For those who don't know, halving means miners get half the Bitcoin they used to get for decoding blocks that contain data about the Bitcoin network. Because they'll be getting less Bitcoin, what it costs to run their mining machines, mostly the electricity, could feel like it's doubled.
There's a bright side, though. Some smart miners are moving to places where they can get cheaper, often wasted energy, like gas that would be burned off anyway. They are starting to mine in countries where energy is stable and not so expensive. This could be a game-changer that would fuel the network in the foreseeable future.
The cost of $BTC must be trading above a certain price in order for mining to be profitable.
#BitcoinMining   #MiningOpportunity   #bitcoinhalving   #BitcoinHalvingTrends   #BullorBear    
Follow our twitter 👉 @fomoguru  