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Tamer Nabil - بتاع البيتكوين
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Is mining still profitable?We must all be aware that there are two basic factors that control the profitability of currency mining. The first thing is the price of electricity and secondly the current currency price. The current average price of electricity in the world represents about 70% of the profitability of mining. Simply put, if your mining device gives you $100 a day, then 70 dollars of them goes into electricity, and the second factor is the price of the currency that you are mining because mining gives you coins, not dollars, so simply if you mine and you get 10 coins and the coin is worth 10 dollars, then you will get 100 dollars per day, but if the same coin is still worth 20 dollars, then you will get 200 instead of 100. Dollar Ok, what are the current profitable mining opportunities? If we are talking about the natural system that we will pay for electricity on average, the global price remains currently undisputed. Bitcoin is $BTC . It is the only profitable currency in mining currently at the current prices of the currency. You have such a method for mining Bitcoin, but in the end they all use the same mining device, which is ASIC. Miner, which is a device similar to a computer power supply, is intended for Bitcoin mining only, but the methods differ in investing in Bitcoin mining. The first and most expensive is that you buy your own device, which costs about 6,000 dollars and produces about 400 to 500 dollars per month. The second method is cloud mining or cloud mining, which is subscribing to a part From a device that is available at mining companies or providers of this service, and by the way Binance has this service on the platform, I will make detailed posts about each type and how to start with it. If you have any questions, please feel free to ask #بتاع_البيتكوين #تعدين #bitcoinmining #miningprofitability #cloudmining

Is mining still profitable?

We must all be aware that there are two basic factors that control the profitability of currency mining. The first thing is the price of electricity and secondly the current currency price. The current average price of electricity in the world represents about 70% of the profitability of mining. Simply put, if your mining device gives you $100 a day, then 70 dollars of them goes into electricity, and the second factor is the price of the currency that you are mining because mining gives you coins, not dollars, so simply if you mine and you get 10 coins and the coin is worth 10 dollars, then you will get 100 dollars per day, but if the same coin is still worth 20 dollars, then you will get 200 instead of 100. Dollar Ok, what are the current profitable mining opportunities? If we are talking about the natural system that we will pay for electricity on average, the global price remains currently undisputed. Bitcoin is $BTC . It is the only profitable currency in mining currently at the current prices of the currency. You have such a method for mining Bitcoin, but in the end they all use the same mining device, which is ASIC. Miner, which is a device similar to a computer power supply, is intended for Bitcoin mining only, but the methods differ in investing in Bitcoin mining. The first and most expensive is that you buy your own device, which costs about 6,000 dollars and produces about 400 to 500 dollars per month. The second method is cloud mining or cloud mining, which is subscribing to a part From a device that is available at mining companies or providers of this service, and by the way Binance has this service on the platform, I will make detailed posts about each type and how to start with it. If you have any questions, please feel free to ask #بتاع_البيتكوين #تعدين #bitcoinmining #miningprofitability #cloudmining
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Bitcoin Mining Revenue Drops, Hits Yearly Low Shawqi Dalimi 2024-08-12 1 minute Bitcoin mining revenue, which is primarily generated from block rewards and transaction fees, has been on a steady decline for two weeks, hitting a new yearly low on August 11. Previous Forecast of Revenue Drop After Halving Event: The Bitcoin mining community had long anticipated a significant drop in revenue following the halving event on April 20, which saw mining rewards reduced from 6.25 BTC to 3.125 BTC. Despite the challenges, funding continued to support mining operations thanks to the rise in Bitcoin prices and the buzz around other protocols within the Bitcoin ecosystem. Major mining companies such as Biftfarms have also been proactive, including extensive upgrades to their mining equipment to ensure continuity and profitability amid the current challenges. Since the big drop in May, daily revenue for Bitcoin miners has seen a temporary recovery before recording a two-week steady decline, hitting a new yearly low. The main factors that contributed to this decline include: the ongoing bear market, the falling price of Bitcoin, the increase in network difficulty, and the liquidations resulting from these conditions. #bitcoin #تعدين
Bitcoin Mining Revenue Drops, Hits Yearly Low
Shawqi Dalimi 2024-08-12 1 minute

Bitcoin mining revenue, which is primarily generated from block rewards and transaction fees, has been on a steady decline for two weeks, hitting a new yearly low on August 11.

Previous Forecast of Revenue Drop After Halving Event:
The Bitcoin mining community had long anticipated a significant drop in revenue following the halving event on April 20, which saw mining rewards reduced from 6.25 BTC to 3.125 BTC.
Despite the challenges, funding continued to support mining operations thanks to the rise in Bitcoin prices and the buzz around other protocols within the Bitcoin ecosystem.
Major mining companies such as Biftfarms have also been proactive, including extensive upgrades to their mining equipment to ensure continuity and profitability amid the current challenges.
Since the big drop in May, daily revenue for Bitcoin miners has seen a temporary recovery before recording a two-week steady decline, hitting a new yearly low.
The main factors that contributed to this decline include: the ongoing bear market, the falling price of Bitcoin, the increase in network difficulty, and the liquidations resulting from these conditions.
#bitcoin
#تعدين
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IREN’s Financial Performance Improves Significantly in 2024: The company reported record revenues of $184.1 million from Bitcoin mining, compared to $75.5 million in the previous fiscal year. IREN mined 4,191 Bitcoins during the year, compared to 3,259 Bitcoins in 2023. Adjusted net income before interest, taxes, and depreciation also improved significantly, rising to $54.7 million compared to $1.4 million in the previous year. The company turned to positive net income before interest, taxes, and depreciation of $19.6 million, compared to a loss of $123.2 million in fiscal 2023. Daniel Roberts, co-founder and co-CEO of IREN, said: We are pleased to announce our annual results for fiscal 2024, which highlight continued growth in revenue, earnings, and cash flow. We are on track to achieve our target of 20 EH/S next month and 30 EH/S this year. Argo Blockchain, another company in the sector, reported 18% revenue growth in the first half of 2024, despite a 50% decline in its cryptocurrency output IREN AI Cloud Services, generating $3.1 million in revenue from multiple clients. #iren #MiningCrypto #تعدين
IREN’s Financial Performance Improves Significantly in 2024:

The company reported record revenues of $184.1 million from Bitcoin mining, compared to $75.5 million in the previous fiscal year.

IREN mined 4,191 Bitcoins during the year, compared to 3,259 Bitcoins in 2023.

Adjusted net income before interest, taxes, and depreciation also improved significantly, rising to $54.7 million compared to $1.4 million in the previous year.
The company turned to positive net income before interest, taxes, and depreciation of $19.6 million, compared to a loss of $123.2 million in fiscal 2023.

Daniel Roberts, co-founder and co-CEO of IREN, said:

We are pleased to announce our annual results for fiscal 2024, which highlight continued growth in revenue, earnings, and cash flow.
We are on track to achieve our target of 20 EH/S next month and 30 EH/S this year.

Argo Blockchain, another company in the sector, reported 18% revenue growth in the first half of 2024, despite a 50% decline in its cryptocurrency output
IREN AI Cloud Services, generating $3.1 million in revenue from multiple clients.
#iren
#MiningCrypto
#تعدين
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Wall Street-listed Bitcoin Mining Company Rebounds After Last Sharp Drop! A Wall Street-listed Bitcoin mining company has performed remarkably this year, posting losses of just $29 million. This improvement comes amid a significant increase in the company’s revenues, which benefited from the rise in cryptocurrency prices. According to the company’s financial results for the year ending June 30, 2024, the company’s revenues increased by 145%, and Bitcoin production increased by 30% compared to the previous year. Irene’s financial performance has improved significantly in 2024: The company reported record revenues of $184.1 million from Bitcoin mining, compared to $75.5 million in the previous fiscal year. IREN mined 4,191 BTC during the year, compared to 3,259 BTC in FY23. Adjusted net income before interest, taxes, and depreciation also improved significantly, rising to $54.7 million compared to $1.4 million in the previous year. The company turned to positive net income before interest, taxes, and depreciation of $19.6 million, compared to a loss of $123.2 million in FY23. As a result of these improvements, the net loss was reduced from $172 million in the previous year to $29 million. #تعدين #وول_ستريت #wall_street #MiningCrypto
Wall Street-listed Bitcoin Mining Company Rebounds After Last Sharp Drop!
A Wall Street-listed Bitcoin mining company has performed remarkably this year, posting losses of just $29 million.
This improvement comes amid a significant increase in the company’s revenues, which benefited from the rise in cryptocurrency prices.
According to the company’s financial results for the year ending June 30, 2024, the company’s revenues increased by 145%, and Bitcoin production increased by 30% compared to the previous year.
Irene’s financial performance has improved significantly in 2024:
The company reported record revenues of $184.1 million from Bitcoin mining, compared to $75.5 million in the previous fiscal year.
IREN mined 4,191 BTC during the year, compared to 3,259 BTC in FY23.
Adjusted net income before interest, taxes, and depreciation also improved significantly, rising to $54.7 million compared to $1.4 million in the previous year.
The company turned to positive net income before interest, taxes, and depreciation of $19.6 million, compared to a loss of $123.2 million in FY23.
As a result of these improvements, the net loss was reduced from $172 million in the previous year to $29 million.
#تعدين
#وول_ستريت
#wall_street
#MiningCrypto
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