Cryptominers dreaming of rebound after price crash
Credit:
Physorg
Surrounded by the cryptocurrency mining "rig" that is taking over his bedroom, "Ali" lays bare the risks of his trade, revealing his profits "are a tenth of what they were".
Prices of cryptocurrencies have plunged since the heady heights of last year, slashing the profits of miners such as Ali.
"This is the worst possible time to invest," the young Lyon native, who preferred to keep his name secret, told AFP. Ali still ekes out a profit and has amassed enough reserves to absorb around six months of losses, but the days of generating 15,000 euros (£13,580; $17,450) profit per computer seem long gone.
