Problems with the cryptocurrency rate had a negative impact on the profitability of mining. According to the F2pool pool, from 600 to 800 thousand ASICs around the world have now been disconnected. The pool itself admits that it lost up to 10% of the hashrate. However, everything is not so bad, mining coins can bring a high income.
Cryptocurrency prices are falling, and electricity costs are rising. There comes a time when it becomes unprofitable to mine coins. It is much easier to go to any trading platform, and take the required amount of bitcoins, without extra costs for maintenance and depreciation of equipment.
However, you can not shift all the blame on the falling course. According to Mao Shisin, the founder of F2pool, outdated equipment is being disabled. Most recently, Bitmain launched Antminer DR3 on a 7 nm chip. This dramatically increases performance with the same consumption of electricity. By the way, this aspect also had its effect. Most farms in China buy energy at $ 0.4 per kW, although most recently the price was two to three times less. As a result of these events, the Bitcoin hashrate fell by 13%.
But there are also positives. The complexity of computations over the past few days has decreased by 5%. However, there is a chance that the remaining miners will be able to hit a good sum. The fact is that the recalculation of complexity in the blockchain takes place once every two weeks. Its significant decline will allow you to earn good money even at the BTC / USD price of $ 5000.
TV channels show footage of outdated ASICs being sold by weight, like scrap metal. However, there are a number of investors who could even make a profit out of this situation. These are cryptocurrency traders.
Since you can not only “buy” financial instruments, but also “sell” financial instruments, some of them earned excellent money on the fall of the exchange rate. However, the situation is now beginning to change. After falling to the level of $ 3,456, Bitcoin again returned to the level of $ 4,000. At the same time, Litecoin turned out to be a clear growth leader, adding 11% of its lows.
Do not be afraid that mining cryptocurrency will stop. The algorithm is designed in such a way that the complexity of coin mining varies depending on the connected hashrate. Therefore, there will always be devices ready to process the information.