Opinion: Currently, only five types of mining machines can remain profitable, which may indicate that prices have reached their bottom

Bitcoin fell to the $54,000 level today, with only five mining machine models currently profitable for their operators, possibly signaling a "local bottom". According to F2Pool's chart, as long as the BTC price is above $53,100, four Antminer models and one Avalon model can make a profit. Now all other miners' operating costs are higher than the returns obtained by operators.

Dovey Wan, partner of cryptocurrency fund Primitive Crypto said: "Bitcoin miners are just one step away from surrendering. The break-even point for S19 is at $52,000. This is the perfect position for a local bottom."