Bitcoin News Today – September 10

  • Bitcoin (BTC) mining profitability is on the rise
  • BTC New Age Miners Now Make Up to 100% Profit
  • Bitcoin (BTC) Mining Hashrate Is On the Rise.

Bitcoin News Today – Many people have benefited from the emergence of cryptos in several ways. While others invest and make profit on Bitcoin (BTC) and other coins, others simply mine the coins to make profit. Bitcoin (BTC) mining has been highly profitable over the years. According to a recent report from Fundstrat, Bitcoin mining is still highly profitable even with standalone systems released in 2017. BTC mining is an integral part of the entire digital currency space. Bitcoin (BTC) mining process involves expensive hardware and running cost.

The market has seen wonderful development and research in these systems. The profit generated from mining Bitcoin (BTC) depends on the break-even cost of mining hardware. The new age Bitcoin (BTC) miners are energy efficient. At the current price of Bitcoin (BTC), BTC miners are making up to 100 percent profit.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$9,758.25
-1.58%

Bitcoin (BTC) New Age Miners Now Make Up to 100% Profit

Bitcoin (BTC) mining is now profitable than it used to be over the past years. Miners used to make around 20 percent profit with Antminer S9. WhatsMiner M10 used to yield only about 10 percent profit. Fascinatingly, new age miners now make up to 100 percent profit with the new mining facility. The average break-even cost of current systems is around $6,300. This figure tallies with the research earlier reported by CoinShares. Mining rigs with a huge number of mining hardware units are even much more efficient than standalone systems.

Bitcoin (BTC) Mining Hashrate Is On the Rise

Bitcoin (BTC) mining total hash rate is also on the rise. It is continually rising to new all-time highs almost on a weekly basis. However, the difficulty for mining Bitcoin (BTC) is also increasing as the mining hash rate is continually increasing. As the hash rate is increasing continually, older mining farms would eventually pack up due to competition. This might seem like an adverse situation. However, the capitulation of old miners could be a bullish signal for the world’s largest digital currency.

Bitcoin News Today – Willy Woo – a digital currency analyst – developed a mining capitulation theory. He said that as the difficulty starts to decompress, more BTCs are left to be accumulated for the rest of the miners. He also said that since old miners would hold their BTCs, the market would see a short-term supply in shock, which would result in an increase in price. The increasing mining hash rate of Bitcoin (BTC) will not affect the supply of Bitcoin; it would only affect mining profits

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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