Quote from: larry_vw_1955 on Today at 04:50:55 AM

Quote from: Wind_FURY on September 15, 2024, 10:11:56 AM

Plus there's mining hardware depreciation and obsolescence. Turning off and limiting your miners to mere eight hours a day loses its opportunity to breakeven on the hardware cost which must be done as quickly as possible. In this industry, cheap electricity is the biggest requirement to succeed. No access to cheap electricity means losing against the other more efficient miners who do have access. It would absolutely be more profitable to buy the DIP, and HODL with the capital and relax by being a passive investor.

i'm not even sure that if someone was able to get free unlimited electricity that they would guaranteed to be profitable mining bitcoin. because the hardware costs is so high. the hardware might stop working before they break even.

this is where math always helps out

so lets do it
the average network is 650exa

which is $6318 for 234thash
(2.777m asics equivalent of running on average)

the hardware cost spread over 2 years of 24/7 operating is a hard ware cost per btc of:
6318 *2,777,777 = 17,550,000,000
17,550,000,000 / 105k blocks / 3.125 btc = 53,485

this is the current bottomline of the new batch hardware costs being released this q3 of 2024..
however many miners are using the hardware cost of 2022-3 when they got the s21 range which had a average hardware cost per asic of $4.2k and a price per btc cost over 2 years of $35k per btc