Bitcoin has dropped to a point where it's not that profitable to produce, according to some estimates.
"Bitcoin currently trades essentially at the break-even cost of mining a bitcoin, currently at $8,038 based on a mining model developed by our data science team," Fundstrat's Thomas Lee said in a report Thursday.
Fundstrat's model incorporates three factors: the cost of equipment, electricity and other overhead such as maintaining cooling facilities...
Source:cnbc.com