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Mining Now Less Profitable These Days, Shifting Towards ‘Big Guns’.

Bitcoin [BTC] mining revenues for the primary six months in this year have already surpassed results in 2017, however the miners themselves see very little profit, weekly crypto outlet ‘Diar’ reports.

In line with a recent report published by ‘Diar,’ the rewards and the associated fees for BTC miners have already reached $4.7 Bln within the initial three quarters of 2018, around $1.4 Bln more than the profits altogether of 2017. Miners are still however able to gain around 54,000 Bitcoins monthly, the report added.

However, mining now a days is simply profitable just for big guns as the electricity prices are gradually increasing. Diar assessments show that the miners paying retail electricity prices have shifted towards disadvantages for the primary time since this Sept. 

Mining Now Less Profitable These Days, Shifting Towards 'Big Guns'.

Adding further, the report from ‘Diar’ mentioned:

“Bitcoin mining at least for now, and possibly within the future,  moved into the court of larger players with deep pockets.”

However, even major corporations may need to regulate their business, in line with  Diar. For example, Chinese mining company ‘Bitmain’, that received around 95% of its revenue in 2018 from the sale of miners, is “acting sort of a swing producer” and launching pools in United States so as to keep the network profitable for miners.

As reported by EtherDesk earlier, another report by Diar within this week mentioned, San Francisco-based crypto exchange Coinbase’s USD volumes have hit a 1-year low within the third quarter of 2018. However, compared to an equivalent period last year, BTC trading volumes are currently slightly higher ($5.4 Bln in 2018 against $4.6 Bln in 2017). Within the meanwhile, Bitstamp exchange Trading volume of BTC was around $4.4 Bln, whereas it had been at around $4.6 Bln within the same period last year.

Earlier as per a report by EtherDesk, Bitmain proclaimed a $500 Mln investment in August in blockchain data center and mining facility in the TexasThe development was estimated to be launched in early 2019, with plans to herald 400 native jobs within the first 2 years.

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