Hey guys just wanted to share something.
This chart is the Bitcoin mining revenue which is a combination of the number of coins produced, transaction fees and the market price. All of which I think you'll agree are important factors for Bitcoin miners.
As you'll see the price bottoms of bitcoin coincide exactly with mining revenue bottoms. What's even more...
One of the ways in which we can find constructive price patterns is by identifying those in which volume rises on rallies or falls or declines. This shows the proper type of action for a strong stock as volume dries up when the buyers leave the table
This is in addition to my previous chart on miner roi for different Antminer models. The S9 is the only model making a profit now and is the only sha256 miner currently used by Bitmain according to news articles. My previous chart only looked at ROI for retail miners. Here I show estimates for Bitmain (area plots) itself who pay less for their mining equipment...
Chart shows the return on investment of Antminer S-series miners:
S1 (yellow): approx released July 2013, power consumption 2 kW/TH/s
S3 (purple): approx released June 2014, power consumption 0.71 kW/TH/s
S5 (orange): approx released December 2014, power consumption 0.51 kW/TH/s
S7 (green): approx released Aug 2015, power consumption 25 kW/TH/s
S9 (blue): approx...