Bad news for bitcoin miners: It’s no longer profitable to create the cryptocurrency, by some estimates

Bitcoin currently trades essentially at the break-even cost of mining a bitcoin,” Fundstrat’s Thomas Lee said in a report Thursday.
“In some cases the miners may simply turn off the machines until the price comes back a bit,” said Shone Anstey, co-founder and president of Blockchain Intelligence Group.
Miners’ earnings have roughly halved this month from December due to a surge of interest in bitcoin mining, as measured by hashrate, said Charlie Hayter, CEO of CryptoCompare.

It’s no longer profitable to mine bitcoin, by some estimates It’s no longer profitable to mine bitcoin, by some estimates

Bitcoin has dropped to a point where it’s not that profitable to produce, according to some estimates.