Bitcoin mining stock prices were hammered this Monday, with many of the biggest names losing double digits as the cohort continues a correction that began last week.Even so, bitcoin mining stock prices for the companies in our update are still up on the monthly, the majority by double digits.
pull down to refresh
related posts
55 sats \ 1 reply \ @BlokchainB 23 Oct
Yes indeed! I sold some of my leaps at the wrong time haha so is life
reply
0 sats \ 0 replies \ @0xbitcoiner OP 23 Oct
Nobody nails it every time. Just look ahead, the past is gone!
reply
33 sats \ 0 replies \ @freetx 23 Oct
I would be cautious investing in miners right now. The change in the law (100% depreciation) is resulting in lots of money pumping into miners without an economic concern about true profitability.
Basically the hurdle rate is no longer "is it profitable to mine bitcoin", rather "will I net spend less". So if your tax bill is $50,000 and if you invest in bitcoin mining and only make $25,000 over the next 3 years....you still net saved $25K compared to paying the tax.
Perhaps this is a net boon some specific mining stocks that are selling their infrastructure off to investors....but all I'm saying is you can no longer reliably value mining stocks just using simplified methods, as you now need to consider "uneconomic mining" from tax depreciation perspective.
reply
0 sats \ 0 replies \ @Sandman 23 Oct
Prices are losing many numbers
reply