Bitcoin excavation in Vietnam is not enough to pay for market electricity


The Bitcoin prices have fallen to the lowest level in 12 months, which means that there is no income from a & # 39; Excavation online enough for operating costs.

In less than a week, Bitcoin prices fell significantly from $ 6,500 to $ 4,200 CoinMarketCap afternoon 20/11. Not just Bitcoin, its "real-money money market" is red-rooted, "which has benefited from a using self money on negative numbers.

Ethereum (ETH) lost money, which used to be a lot of Vietnam, 11 times the highest. After nearly a year, ETH was from $ 1,400 to $ 130 only.

At this price, excavation (circles or "buffalo") costs a month of 1.3 million, but lost 1.4 million electricity, or a loss of around 100,000.

The money does not include the cost of buying machines, and # 39; cooling system, internet, work … "This is a theoretical calculation, the income may be very lower due to machine work not 100% efficiency," said the Binh Bank, a internet financing fund. "If electricity is used at the cost of a staircase, electricity can up to 1.6 to 1.8 million per month for a device."

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Entrance from Ethereum is not enough to pay for electricity.

There is not enough income to cover operating costs, investors also spend a lot of money to buy excavators. "A year ago, there was a price between the VND40-60 million, according to the line of graphics cards," said Binh. "When the cost of internet money is sustainable, the tourists will take half a year back, as long as it is not easy and to prove the risk of this market."

According to these reservoirs, in Vietnam, rarely do not spend billions for a & # 39; Buying dozens of "buffaloes" hopes to hope high profits. However, the great money spent "was" relieved "quite a lot. "All new excavations bought around 50 million, now demolished for less than 10 million," he said.

There is no additional price reduction on the excavation to pay electricity for the "buffalo" by the owners to demolish it. "The market will go down for half a year, I'm still trying to excavate in the hope that money will come back quickly.

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A piece of equipment equipment in the team talking about online money.

But its price is reduced every month but more than 30 million electricity bills can not be maintained, "said Pham Van Huy with over 20 devices in Gia Lam (Hanoi).

"Continuous negative changes from the beginning of 2018 hit Bitcoin and other funding funds down to even lower levels," said Pham Gia Cuong, an expert in coding in advance. Look up.

"From the outset, investors need to prove that this is a dangerous, dangerous enterprise, should be considered as responsive and responsive, to avoid losing more money. "

According to Vnexpress

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