UTC-05:00,Monday , December 09th 2019

CoinDesk Analysis: Litecoin's Price Plunge In Recent Months Has Whittled Away The Profitability Of Mining

14:18 Wednesday , December 04th 2019
According to CoinDesk, prices for Litecoin, created in 2011 just two years after bitcoin, have fallen to about $45, from a peak around $140 in June. And under the network's original programming design, rewards for mining new blocks of data were slashed by 50% on Aug 5, an every-four-years event known as a halving.
The combination of factors has cut the profits of mining litecoin using the popular Innosilicon A6+ computers to $1.68 per 24 hours, from $2.65 in mid-June, assuming a standard electricity cost, according to f2pool. That's a slim margin for a machine that costs $3,000 new, according to the manufacturer's website.
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