"Currency World ", a crypto currency magazine from China, learned from the Bitcoin miner owners that the investment cost of Bitcoin mining business usually includes machines and electricity charges, and it takes about one year to recover the costs.
Use S9 mining machine as an example, its current price is 18,000 RMB / station (USD $2859), uses 32.4 kWh electricity per day. Electricity in China average is about 0.6 RMB / kWh. Thus mining one bitcoin costs about 53,415 RMB (USD $8483).
With the current BTC price plunged to average of 46,891 RMB(USD $7447), it has fallen sharply below its mining costs.
I believe this has happened many times before.
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