Dig Bicks
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November 21, 2018, 09:31:03 PM

finally crypto mining companies are starting to go bankrupt. looks like it's that time of the year already.
https://cointelegraph.com/news/crypto-mining-firm-giga-watt-files-for-bankruptcy-faces-eviction-in-washington-county
still waiting for 'bitcoin dead' headlines, but looks like it may be time to slowly start accumulating.

This just goes to show how electricity is only one of many costs associated with mining. Don't believe the FUD about the electricity only cost of mining a bitcoin (~$3000). The real cost of mining is double that at least. The electricity in Douglas County Washington is less than $0.03 per kWh and they still couldn't stay in business. Every miner in the world is mining at a loss at these prices.

Here is why it doesn't matter.  Governments are secretly mining bitcoin with public resources, they don't care about making a profit.

Crypto mining is also being used to launder money, so these guys see the loss as just a money laundering fee.  They mine clean coins and turn their money clean.