Bitcoin Mining Hashrate Increases 104%, Raising Questions on Sustainability and Profitability
According to Foresight News, CoinShares' 2023 mining report reveals that Bitcoin mining hashrate has grown by 104%, leading to concerns about its environmental sustainability and profitability, particularly in terms of network efficiency and energy costs. The average production cost for each Bitcoin is expected to be $37,856 after the halving. Most miners will face challenges in covering sales and administrative expenses, and will need to reduce costs to remain profitable. Only Bitfarms, Iris, CleanSpark, TeraWulf, and Cormint are expected to continue making profits unless the Bitcoin price stays above $40,000.
my #BinanceWish : $25,000 in BNB, because let's be honest, my portfolio could use more jingle and less jangle. đ đž As a trader, winning would be the festive boost my crypto elves demand. Let's add some crypto cowbell to the charts, turn this into a financial ho-ho-holiday, and make this season the most udderly unforgettable in crypto history! đđ
đ Binance has changed our lives and we are grateful for it. I bought BNB few years back and i still hold it because i trust it, i havenât sold a single BNB yet
I trust both CZ and Binance â€ïž
They are backbone of Cryptoâ
And my Christmas #BinanceWish is to send BNB to the moon and global adoption of crypto because itâs the future. It has a lot of utility â And i honestly would love to win 25K$ more BNB because i love it đ„ BNB got best ecosystem and i trust it more than any other coinđ€đ»