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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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corbotron OP : not bad for a 4 day trade and still 20% short interest
104993951 : Going to let it ride till it hits my price target of $4.30
corbotron OP 104993951 : keep it in the green though if it starts a reversal, but good job
starr67 : too high to get in?
corbotron OP starr67 : I think there is still some steam in the engine, I like the last comment of 4.30 price target , if the trend keeps going which I'm 70% sure it will tomorrow I'm thinking 4.2 close but I'll be holding some for a squeeze that I believe is cooking NFA