Mining giant F2Pool said in a chart released earlier on Friday that ASICs with efficiencies below 23W/T would operate at a loss at a price of $0.08/kWh. Only five mining rigs currently generate profits for operators, which could mark a "partial bottom".
F2Pool's chart shows that Antminer's four miners and one Avalon miner are profitable as long as the price is above $53,100. Now, all other miners are running at a higher cost than the operator's return.
Dovey Wan, a partner at cryptocurrency fund Primitive Crypto, said in an X post on Friday that bitcoin miners are one step away from capitulating, with the break-even point for S19 at 52,000. This is the perfect setting for a partial bottom.
Primitive Crypto Partner: Bitcoin Miners Just One Step Away from Surrender
2024-07-05 06:36:46
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