PANews reported on July 5 that according to CoinDesk, Bitcoin fell to $54,000 today. Currently, only five mining machine models can bring profits to their operators, which may mark a "local bottoming out."
According to a chart from F2Pool, four of Antminer’s mining models and one Avalon model are profitable as long as the BTC price is above $53,100. All other mining machines now cost more to run than the returns their operators receive.
Dovey Wan, partner at cryptocurrency fund Primitive Crypto, said: “Bitcoin miners are just one step away from capitulation, with the breakeven point for S19 at 52,000. This is the perfect position for a local bottom.”
