Bitcoin mining no longer profitable, says JP Morgan

Bitcoin mining no longer profitable, says JP Morgan

According to analysts at JPMorgan Chase, the production-weighted cash cost to create one Bitcoin averaged around $4,060 globally in the fourth quarter of 2018, far higher than the current prices, making mining unprofitable. The analysts also said that a bear case scenario could see Bitcoin dropping to as low as $1,250.

KCooper
KCooper
Jack King
Jack King 1 year

this would be the best time to buy if I had the money to blow on it

Nathan Savage
Nathan Savage 1 year

Great! Then I can buy in and ride it back up.

Randy Souse-Git
Randy Souse-Git 1 year

People thinking of buying in: think again. All the hyperinflated value has already been drained off as profit by the hucksters and grifters (AKA speculators and financial investment houses). Their incentive to peddled flim flam is over and you're going to see them withdraw. The freefall isn't done. There are people in my life burned by round one of this hype beast. Any new round of bullishness in the market is going to be second tier players mitigating their losses at your expense. Don't fall prey to it.

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