Bearish trend doesn’t affects miners

  • 10:08 Jun 09, 2022
Bearish trend doesn’t affects miners

According to the opinion of the Head of Marathon Digital mining company Fred Thiel margin helps to avoid losses on the falling market. He is sure that the latest volatility hasn’t affected the profitability of BTC-mining. Thiel said that in his company the expenses for mining 1 BTC are about $6250 and even with today’s rates there is enough profit left for producing, maintaining and developing.

The rates do not disturb miners a lot. Fred Thiel admitted that the cost of electricity and authorities' permission for production deployment is of great importance. He explained that for risks hedging miners fix the prices in their contracts.

The weakest point for the majority of companies is obtaining the license for using the mining equipment. The Head of Marathon Digital admitted that losing time for waiting for a license brings huge expenses.

In general this speech looks like an effort to calm down the investors because in the last report Marathon Digital fixed losses $13 millions.

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