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#CreatorPad The End of Bitcoin's Golden Age of Mining Analysts are warning of the imminent end of Bitcoin’s golden age of mining. Following Bitcoin’s recent sudden drop—coinciding with a stock market crash—the cryptocurrency is once again moving toward higher prices. However, it now appears that mining Bitcoin is no longer profitable, even for some of the industry’s largest players. According to new data released by CoinShares, the cost of electricity and computing power required to mine Bitcoin now exceeds the coin’s intrinsic value. Currently, the estimated cost for large-scale mining companies to mine a single Bitcoin is around $82,000, while Bitcoin's market price hovers around $96,000. Although this technically remains profitable, profit margins have dropped significantly compared to the previous quarter. According to today’s report, in Q3 2024, the cost of performing the necessary computations to mine one Bitcoin was approximately $56,000. This means the cost has increased by about 47% in just a few months. $WCT
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Word of the day. The first goal in trading is survival, profit comes after that. $BTC $ETH $BNB
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#CreatorPad 🔹Unbelievable 12 Million Percent Profit: Dormant Bitcoin Whale Awakens After 15 Years In the early hours of July 31st, one of the oldest Bitcoin wallets, inactive since 2010, became active again after 15 years and transferred its 50 BTC holdings. This amount of Bitcoin is now worth over $5.9 million, representing a staggering 11,833,000% gain compared to the initial price of around $0.10 per coin. The wallet, identified by the address 13giEg, dates back to a time when Bitcoin was still in its early experimental phase, and the 50 BTC were earned as a block reward for mining. The activation of this dormant wallet—without any test transactions or partial transfers—has caught the attention of market analysts. It remains unclear whether the owner intends to sell the coins or is simply relocating or managing their holdings. None of the destination wallets appear to be linked to major exchanges. This event highlights that even after years of inactivity, some early Bitcoins are still alive, and their movements can serve as important signals for the market.
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Breaking News: China has officially banned cryptocurrency trading, mining, and related services. #china #crypto $BTC
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Follow me guys from Afghanistan 🇦🇫 $BTC $ETH $BNB
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