A tweet published on April 12 by the research arm of major cryptocurrency derivatives platform BitMEX estimates that Bitcoin SV (BSV) miners have accumulated gross losses of $2.2 million.
The report released by BitMEX Research claims that BSV miners perceived a negative gross profit margin of 12% since the coin was created in a hard fork that split Bitcoin Cash (BCH). The estimate is based on mined coin count, current coin prices and lower bound mining electricity costs.
The tweet notes that, among costs, the estimate accounts for mining electricity only.
In November, in the run up to the BCH hard fork, BitMEX research launched a network monitoring tool for Bitcoin (BTC) and Bitcoin Cash. The resource, dubbed Forkmonitor, provided the data that BitMEX referred to in yesterday’s tweet.