Home Bitcoin NewsBitcoin Mining Bitcoin Needs to Drop 80% Before Marathon Loses Money on Mining

Bitcoin Needs to Drop 80% Before Marathon Loses Money on Mining

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Bitcoin has a long way to drop before mining the digital token becomes unprofitable for North America’s largest crypto mining company. 

After factoring in energy and hosting costs, the breakeven rate on Bitcoin for Marathon Digital Holdings Inc. is roughly $6,500, according to Fred Thiel, the Las Vegas-based company’s chief executive officer. Even with this week’s drop from an all-time high of $68,991 to around $60,000, the world’s largest cryptocurrency would need to plunge 80% before hitting the breakeven level. 

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