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At these “depressed levels of profitability, even miners using energy-efficient machines like the Antminer S19j Pro need access to electricity at a price of less than $0.08 per kWh,” said analyst Jaran Mellerud. in Luxor. Even though the average price for energy on the grid is around $0.05 per kilowatt-hour (kWh), many miners pay around $0.07 to $0.08 per kWh, Mellerud said.

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