Miners that use hardware in the same category as Bitmain s9s with energy prices over 5 cents are likely to capitulate, Denis Rusinovich, co-founder of CMG Cryptocurrency Mining Group and Maverick Group, told CryptoX. That might entail powering off their machines or selling them. Ethan Vera, chief economist and operating officer at Luxor, which runs a trading desk for mining rigs, agreed, saying that because S9s are still selling for $150-$300 per unit, mining farms might opt to sell them,
As Bitcoin Price Slides, Older Mining Rigs Are Becoming Less Profitable
