German Private Equity Firm Xolaris Doubles Down on Bitcoin Mining Efforts
Bitcoin’s terrible price performance forces companies to make tough calls. Especially in the mining department, breaking even has become a lot more difficult. German private equity fund Xolaris sees things differently. The company will invest $50m in Bitcoin mining for the Asian market.
The Current State of Bitcoin Mining
The topic of Bitcoin mining has gotten a lot of attention throughout 2018. In most cases, this pertains to the electricity consumption associated with this process. There is also the falling Bitcoin price to keep in mind. A lower price makes it more difficult, if not impossible, for miners to break even. So far, the year 2018 has not been too positive in that department.
Last week, Bitcoin briefly became the least profitable version to mine. Both Bitcoin Cash and Bitcoin SV surpassed its profitability. While things are returning to normal, there are still a lot of unanswered questions. Mining Bitcoin usually revolves around hoarding BTC and hoping it appreciates…
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