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Hong Kong stocks are experiencing fluctuations | Bitcoin has plummeted below 0.097 million USD, and Cryptos ETFs and related Concept stocks have declined.
Cryptos ETFs and related Concept stocks have all fallen sharply. As of the time of writing, GRANDSHORES (01647) has dropped by 9.68%, reported at 0.084 Hong Kong dollars; LINEKONG (08267) has fallen by 3.92%, reported at 0.49 Hong Kong dollars; Huaxia Bitcoin (03042) has decreased by 4.64%, reported at 11.92 Hong Kong dollars.
The cryptocurrency Industry is facing profit squeezes, and USA mining companies are "making ends meet".
It is estimated that in the third quarter of last year, the Average Cost of producing Bitcoin for all miners listed in the USA was $55,950 per coin, a 13% increase from the previous quarter, with an Average Cost of $106,000 including depreciation and stock-based compensation costs. Bitcoin is currently priced at $101,439.1. This means that if the price of Bitcoin does not rise, it may lead to many miners shutting down their machines or going bankrupt.
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