Because Bitcoin is dying, people are throwing more money into mining.
according to KNC, the mining cost of bitcoin is significantly below $400, i think it's around $170 per coin and they are trying hard to mine more and dump more
KNC 3T miner at 1710 Watts: $5995 (of cause the cost of manufacture is under $3000)
mine 1 bitcoin: 3.412 week, Power Cost: $98
let's say you mine 50 bitcoins and stop mining, cost per coin:
$158Except mining 50 bitcoins with that device would take 170 weeks (or about 3 years) at the current difficulty...and we all know the difficulty won't go up for the next 3 years right?
Idiotic....the mining cost of a single bitcoin is far beyond the btc/usd exchange price right now.