UPDATE: Ombudsman says crypto mining returns investment in 8Ц12 months - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: Ombudsman says crypto mining returns investment in 8Ц12 months

(Adds comment in paragraph 4)

MOSCOW, May 17 (PRIME) -- The investment return period of cryptocurrency mining amounts to between eight and 12 months, Russian Internet ombudsman Dmitry Marinichev said on Thursday.

УThis payoff period is calculated on the basis of equipment, forwarding and formalization costs,Ф Marinichev said.

It is not easy to name the exact investment return period for mining, mainly because expenses are calculated in U.S. dollars, he said.

Investment return of such projects is so far unstable. УThree more years will pass before mining equipment starts bringing profit, when fluctuations of the bitcoin stop and the market stabilizes. It will happen in no less than threeЦfive years,Ф the ombudsman said.

Mining Уcould be an industry Еbecause itТs a classical element of the systemТs sustainability,Ф Marinichev said.

End

17.05.2018 12:11
 
 
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