During the last year, the fluctuating prices have threatened a lot of miner across the world as their profitability from operations was on the danger line. The price of was observed around $3468 last year in December, which was very close to the threshold mark of $3000, below which earning profits from is a tough task.
Talking about this year, the prices and difficulty of popular , are gaining solidity and may continue the upward surge. Still, the reports coming from and other crypto places around the globe indicate a new trend. For instance, in , and other miners are looking to buy used equipment and also making deals with farms and hydroelectric plants this summer to gain profitability again from operations.
An excessive amount of electricity is expected to be generated by hydroelectricity plants in hoping abundant water this summer. The miners in are showing enthusiasm by partnering in advance with fossil power plants before the summer season begins.
This indicates a dynamic market shift in crypto in as a lot of miners as well as firms are looking to buy second-hand equipment and alternative energy sources to minimize the high costs that incur in activities.
If we talk about global crypto market, then skyrocketing electricity cost is a big issue there too for miners as it decreases their profitability and deepens the carbon footprint of operations. Similarly, many times the private hydropower plants engaged in also do not participate in electricity trade with other companies in energy-intensive industries, which is poor for the global community as a lot of generated electricity gets wasted.
Coming back to the Chinese market, the miners there are optimistic about making money owing to the use of second-hand equipment and competitive electricity prices. But, again if the prices of fall below that threshold of $3,000 during the summer in , then a lot of miners will put a halt on their operations.
Seeing such a scenario, it is important that companies start looking for alternative energy sources for crypto . If we talk about the recent developments in this area, then Pieta is one such project that is working to minimize the high cost and energy requirements in activities to make it more accessible and environment-friendly.
is a solar-powered crypto ecosystem that uses solar energy along with the latest X20 hashing algorithm to reduce high energy consumption in and makes it more eco-friendly.
The new X20 hashing algorithm in Pieta also increases the efficiency of equipment by keeping them cooler during . The other distinctive features of Pieta ecosystem include high rewards, multiple revenue streams, high scalability, and inflation-free .
Published at Mon, 01 Apr 2019 09:11:12 +0000
