Bitcoin currently at $54,700, the same as when I posted this one month ago. Let's guesstimate miner losses since the April 19th halving.
Miner profits before the halving
income: $70K price x 330K coins = $23.1 billion
cost: 175 terawatts x $0.10 per k/watt = $17.5 billion
profit: $5.6 billion/year or $467 million per month
April 19th to June 19th
income: average $67K price x 165K coins = $11 billion
cost: 155 terawatts x $0.10 per k/watt = $15.5 billion
loss: $4.5 billion/year or = $750 million for two months
June 19th to July 19th
income: average $61K price x 165K coins = $10 billion
cost: 155 terawatts at $0.10 per k/watt = $15.5 billion
loss: $5.5 billion/year or = $460 million for one month
July 19th to now
income: average $56K price x 165K coins = $9.2 billion
cost: 155 terawatts x $0.10 per k/watt = $15.5 billion
loss: $6.3 billion/year or = $780 million for 1.5 months
Net loss since April 19th: $2 billion
Annualized loss right now is around $6 billion.
My prediction from eleven months ago:
"Surviving miners could lose $6 billion in 2024
instead of $4-5 billion. I expect a big selloff
after the coin halving as too many people are
buying on rumor and will sell on the news."
The decompression of Bitcoin price after the Halving was a high percentage bet. It wasn't even as risky as buying a rumor, since the Halving was guaranteed.
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