With prices of Bitcoin hovering between 6-7K, the question uppermost on everyone’s mind is – is Bitcoin mining still profitable? Global cloud mining leader AWS Mining, which runs operations in China, Paraguay and Russia, has released its annual performance report that addresses the issue and shares the company’s results.
As per the latest annual report from AWS Mining, there is still a high investment return for cloud miners. This is seen from the fact that the cost of mining one Bitcoin varies from US$1.500 to US$3.000 dollars, whereas the value of one Bitcoin at the report’s publication time was just over US$7.000 dollars.
The operational results of AWS Mining for the last 12 months reveal a positive return. In total, its datacenters, beginning with China in the end 2016 (and expanding to Paraguay and Russia n the following years), mine 565 BTC, 2,223 BCH, 2,324 LTC, 2,434 ETH, 988 XMR and 921 ZEC within one year.
“We are pleased to announce a highly positive set of results. Even during volatile price levels in the cryptocurrency markets, our impressive optimization structure on costs delivers results. This is due to affordable prices and long-term electricity and real estate leases that maintain profitability,” said Daniel Beduschi, COO of AWS Mining.
The results owe much to its skilled workers who manage all aspects of mining operations in their specific regions. AWS Mining has also invested in new computing centers, the most recent being 6.000 new ASIC units in China and Paraguay. The new centers generate a hashrate of nearly 87 PH/s. These factors have attracted new customers to the company, helping it maintain and expand operations.
AWS Mining has always led the mining sector even during the steep drop in Bitcoin prices at the end of 2017. This demonstrates the utility of mining farms despite decline in market prices. In the last 12 months alone the computational power of Bitcoin has seen an increase of 600%.
The mining farms run by AWS Mining are located in countries with low-cost energy surplus and flexible tax policies. The remote mining services run on in-house technology and are closely monitored, with precautions in place against major extrinsic risk such as power loss or increase in taxes. Contingency plans are also in place to relocate investment resulting in gains in terms of profitability.
In the near future, AWS Mining will be expanding properties in Paraguay, Russia and China. The same quality of services will be preserved, and growth achieved by increasing mining capacity.
For the latest cryptocurrency news, join our Telegram!
About
AWS Mining is a technological enterprise focused on the World’s cryptocurrency demands. The company offers Cloud Mining services of digital coins to every size investor. For more information, please visit: https://awsmining.com
Media contact
Daniel Beduschi
AWS Mining PTY Ltd
Sydney, Australia
Phone: +61 2 9220 3644
Email: [email protected]
Virtual currency is in many countries not legal tender, or is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.
MinerNews.io is is not responsible for the content of external sites and feeds. Guest posts, articles or PRs are not always flagged as this!
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
