Bitcoin needs to drop before Marathon loses money on mining

After factoring in energy and hosting costs, the breakeven rate on bitcoin for Marathon Digital Holdings Inc is roughly US$6,500 (RM27,141), according to Fred Thiel, the Las Vegas-based company’s chief executive officer.

NEW YORK: Bitcoin has a long way to drop before mining the digital token becomes unprofitable for North America’s largest crypto mining company.

After factoring in energy and hosting costs, the breakeven rate on bitcoin for Marathon Digital Holdings Inc is roughly US$6,500 (RM27,141), according to Fred Thiel, the Las Vegas-based company’s chief executive officer.