This is the current state of the Bitcoin Mining industry

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Bitcoin mining is the oldest crypto business that has ever existed. Bitcoin mining is best described as price per btc minus electricity costs. Depending on your circumstances mining while Bitcoin is at 20k is still a profitable decision. The ASIC market has since also crashed along with the price of Bitcoin. Which would mean that entering the Bitcoin mining space while the market is down would be the most optimal decision.

It’s interesting to see the hash power hit new ATHs frequently. Even tho we are seeing corporations like Argo, Core Scientific, and Compute North start to go belly up, hash power still increases. Clean spark, a bitcoin mining company recently purchased all of Argo’s liquidated ASICs. This means that there is still a lot of opportunity. Everything boils down to electricity costs, if you set yourself up for cheap electricity. Bitcoin could drop to 10k and some operations can still be profitable.


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