Bitcoin mining is a broad topic and there have been several things happening in a short time, so I will try and cover as many o those here as I can and see if they show indications of any larger trends.
Mawson Infrastructure Group suspending capital expenditures while they wait for the market to get back to normal
Last year the company invested 6.03M in both equipment and properties. Just to show a prior year's investment. And the company's revenue is most likely taking a hit too with the low Bitcoin prices, last year they reported a total of 19.4M in revenues.
What this year's numbers will look like is any once guess.
And for others like me who are curious as to how "big" the company is when it comes to mining, they operate a total of 40,000 ASIC Miners providing an estimated 3.35 exahash per second, accounting for approximately 1.675% of the Bitcoin network's total hash rate.
Cointelegraph conducts an interview with two professional Bitcoin miners
The interview is very interesting to read, especially if you want t get a look behind the scenes, it is an interesting read as I said and I will leave the link to the interview in whole here and down below in the link section.
Interview with two Professional Bitcoin miners
One of the big takeaways is they say they have always made gains over any 4 year period. Meaning that despite Bear Markets and Crypto winters they have still been able to make money.
White Rock Management goes against the grains and is looking to expand operations
The Swiz-based company White Rock Management is going against the grain and it is set to expand its mining operations with a new facility in Texas. While this looks to be good news, it can also just be that the company has room to make the investments it was planning to do no matter the current state of the market. But it will be interesting to see if this Bear Market lasts a long time and if they then will put this project on hold or not.
A report that came out earlier this month put the base price for a Bitcoin mined in the US at $22,000, and the total cost closer to $30,000. This means the price will need to climb up close to 50% from its current price in order for the facility in Texas to be able to turn a profit. While it is still plenty of time before it is up and running it still indicates an interesting number for the industry.
The company has also stated that they are still making a profit with the latest mining rigs in their Swedish mining facility.
There are a lot of things here to unpack. In general, the mining industry is currently taking a beating. And if the price drops further or keeps at around 20k for a prolonged time my guess is we will continue to see a drop in Bitcoin mining hash rate. And if it goes on for too long some of the companies will inevitably end up folding.
I hope that you have found this Bitcoin mining summary to be interesting and informative. Please share your thoughts on these topics and Bitcoin mining in general in the comment section down below.
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