Bloomberg New Energy Finance (BNEF) analyst Sophie Lu says that Bitcoin miners in China can “profit from bitcoin as long as it’s worth more than $6,925”. This is in terms of short-term running costs (note that 75% of the mining capacity for Bitcoin is in China).
While mining is profitable at the highest regulated electricity price of $0.13 per kilowatt-hour in China, many companies can take advantage of overcapacity in the power-generating sector to negotiate rates as low as $0.03, Lu wrote. Breakevens are achievable at $3,869 at those power prices, Lu said.
Many are probably breaking even at a lot less with discounted rates. So mining today is extremely profitable.
Via: Bitcoin Can Drop 50% and China Miners Will Still Make Money, with a good graph on Bitcoin Breakevens.
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