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Message Subject Crypto bottoms when we have our next "world event" similar to covid pandemic
Poster Handle ZeroKnight
Post Content
Maybe this can help. So I work for a giant crypto mining company. And the going idea atm is to buy up all the assets from bankrupt crypto mining companies. We have no debt so I guess that's why they can do it. We were told 8 months to prepare. After 8 - 12 months Btc would be going up. So we were also told march/April is the crash I guess. So I don't think a multi billion mining company with no debt is going to make a foolish mistake such as investing into infrastructure if they didn't know something. I was told the founder was planning for all this to happen. I guess. Just take what I have to say with a grain of salt though. The company I work for has monthly meeting and they talk about all this kind of stuff. I have never attended and this is 2nd hand knowledge from my manager (who I don't really trust, big ego). Any way mr.cheese never stop fighting. Seems your making good judgement calls. Look forward to more.

Ps. Sorry for grammar, spelling. I'm lazy. And need my naps.
 Quoting: ZeroKnight


Thanks for that very interesting info!

Not sure if you have been following this thread for long or not, but a ways back we were discussing what the numbers might be for mining break-even. Would you be able to provide any insight to this?
 Quoting: nemo_solus


I'm new to this thread so I have some catching up to do. As for the break even aspect. It's hard to get accurate information in regards to this, the reason why is because I'm just the miner technician. We have a variety of different miners that hash mostly for btc. Some are cloud hosted meaning we have customers that rent our miners or have there own miners at our location. In addition the company mine btc for it's self. From what I can say, the s17+ only make 0.35$, that's just one miner . Others like the s19 make 0.70$ a day. Based on my understanding and what I've been told these are long term investments. When the price of btc goes down to 10k it's not going to be good. But my job is secure because they planned for this. So I'm not to worried mostly =[ . These miners when first introduced s19 for example cost 14k. In 2019 I think. Now they cost 2k to 4k (could be wrong have to ask again). Of course if the price of btc goes up it won't be 0.70$ a day. When btc was 16k, each s19+ was 0.70$ a day. 365*0.70 = 255.50×8 = 2044$ in 8 years for one miner if the price of btc stays at 16k for 8 years. To be honest I should be using btc as a measurement of value not USD.but it gives you an idea. What happens when btc instantly go up to 100k or more and the difficulty stays relatively the same for that period in time, happy mining people. Most mining companies are operating in debt and didn't survive and more will follow in the upcoming crash. That's why they going bankrupt like Core Scientific . Yeah we are buying their miners. Some of them brand new . Debt is not a good thing and low btc price like 10k is not a good thing. Some at work have suggested we may unplug miners if it hits 10k . I'm sorry if I made any mistakes or didn't answer fully. This is just the limit of my understanding and what I've been told, so take at face value. If I ever get more interesting info I'll do my best to contribute.
 Quoting: ZeroKnight


no energy cost here.

and the mining rigs are only a portion.
 Quoting: Anonymous Coward 85155230


I'm sorry but because of my position I do not have access to this data. All I know is 2nd hand knowledge from other coworkers. I'm just a mining technician. Repair dirty miners that's my job .
 
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