How do zinc prices affect the profitability of cryptocurrency mining?

1 answers

• Nov 24, 2021 · 3 years ago
  Indeed, zinc prices can play a role in determining the profitability of cryptocurrency mining. Zinc is a key material used in the manufacturing of mining hardware, including GPUs and ASICs. When the price of zinc rises, it directly impacts the cost of producing these mining machines. This, in turn, affects the overall expenses of mining operations. Miners may have to pay more for the equipment, resulting in reduced profitability. Additionally, higher zinc prices can also affect the cost of electricity, as zinc is used in batteries for renewable energy storage. If electricity costs increase, it can further impact the profitability of mining cryptocurrencies.
  665333