The moment crypto enthusiasts have been long dreading is finally here: it's now unprofitable to mine Bitcoin. Bitcoin mining is a process where a graphics processing unit (GPU) updates transactions on the blockchain, validating each transaction with a "proof of work." In turn, "miners" are rewarded with a portion of Bitcoin equal to their work verifying transactions. It's an energy-intensive process. As they mine, each GPU essentially becomes a high-powered calculator, processing hundreds of complex mathematical equations. Bitcoin miners typically hedge the cost of energy used to power their GPUs against the rate of Bitcoin rewarded for validating transactions. Since […]

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