Mining is one of the main known methods to obtain cryptocurrencies, including Bitcoin (BTC). Which, is one of the most profitable due to its high value in the market. However, although the profitability of the mining of Bitcoin appears to be quite high, it is possible that this decrease in 2020 after the next Halving. However, the Halving is not the only factor that will affect the cost of mining and its profitability. Since Bitcoin was near the $ 10,000, he overcame that barrier and then a few days began to fall, due to the pandemic of COVID-19. This great fall in price, clearly affects the benefits of the miners. Since, the current cost to mine BTC round close to 8,000 dollars and Bitcoin for the times listed below 5,500 USD.
What is the current price of the mining of Bitcoin?
The price of mining can vary due to many factors. However, this is currently close to 8000 USD, although it changes depending on the country in which is located the miner. Therefore, to calculate your final cost should take into account several aspects, in order to obtain a net cost for the mining of Bitcoin. These can be: Computers.Electric power consumption.Internet.Among others. Usually, these computers mining Bitcoin have a cost that varies from 2,000 to 3,000 USD. Surely though for this 2020 to develop most modern equipment that can undermine with an increased rate of TH. In addition, we must add the costs for electricity and Internet. Which mining can easily reach 6,500 and 8,000 USD.
How much could cost the mining?
The cost of mining Bitcoin may be able to overcome the current figure and even duplicate it. Because, with the halving of the difficulty of mining will increase. With this we mean that you should employ new teams that have a higher capacity, so that in this way you can get benefits that will make profitable the mining of Bitcoin. On the other hand, we must also take into account that the Halving will decrease a 50% the reward obtained by the miners. This means that those producing a 12.5 tokens, only generate 6,25 BTC. Another aspect to consider is the upgrade of the equipment, the consumption costs of electricity, Internet or other. Which (according to experts) will result in the cost for mining, double its current value and reach a figure that is set close to the $ 15,000. However, in the predictions, more optimistic moment, many analysts have indicated that Bitcoin will exceed the price of $ 15,000 with ease. Even many mentioned that it could get to $100,000 without complications.
Will I be able to mine after the Halving?
Certainly, the mining will not stop until you have produced 21 million tokens of BTC. However, it is possible that many miners will retire with the arrival of the Halving, due to the low cost of BTC for the moment. For this reason, it is not profitable to stop mining, as this alone will decrease the price of the Bitcoin. The mining will be possible, however, its profitability will be different. It is possible that this increase or decrease depending on the movements of the market.
To finish, you should do a compilation of what I mentioned, so you know how profitable it will be and what will be the final cost of this activity. Now, taking into account all of the factors exposed, clearly the price of mining will increase up to the $15,000 or $20,000. However, it is expected that after the said increase, the price of the tokens of BTC also increases, causing as a side effect that mining remains profitable.