At current difficulty, mining 1 BTC costs around $3000-$4000 depending on electricity costs - not including capital outlay.
Again...they cost $4000 to mine and they can't make money selling them for $8000?
which the fuck is it?
It's $3000-$4000 in electricity to mine a bitcoin plus $4000 in equipment costs. The electricity plus mining equipment costs makes it about $8000 to mine a coin.
At least that's what cointelegraph says. The mining equipment must be fucking expensive, and miners must need a hell of a lot of it judging by this mine.
Looking at the new Canaan Avalon 841 - cost is about $2000+ each, at $8000 it would take ~2 years to recover the cost of the machine. Of course looking at that picture, buying machines in bulk with cheaper electricity they could probably recover the cost in less than a year especially with bitcoin prices fluctuating.
Below $7000, miners would probably just turn off their machines and just buy bitcoin instead
