ViaBTC | How Will the BTC Slump Affect Miners?

What is the shutdown price?

As we know, running mining rigs consumes electricity, which comes at a certain cost. When the mining revenue fails to cover the electricity cost, miners will suffer losses if they choose to keep running their mining rigs. Plus, other operating expenses such as the cost of site maintenance have not even been included. Under such circumstances, miners have no choice but to shut down their mining rigs. Hence, the BTC price at which the income of Bitcoin mining fails to cover costs such as electricity is referred to as the shutdown price of mining rigs.

Does mining during a crypto bear always lead to losses?

Mining cryptos during a crypto bear is not always counterproductive, and miners could profit as long as their mining rigs stay above the shutdown price. Meanwhile, miners can also join ViaBTC Pool and apply for the Ambassador Program by referring ViaBTC to their friends. ViaBTC Ambassadors can get 20% referral commissions on fees as long as they stay as Ambassadors.

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