The Bitcoin mining industry is "under considerable stress," with the equivalent of 1.3 million Antminer S9s having already been switched off.
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Bitcoin Mining Industry ‘Under Considerable Stress,’ 1.3m Rigs Turned Off
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Bitcoin mining essentially works like an hourglass scheme (and I mean that in a good way). Eventually a combination of difficulty and price hit a point in which miners start coming back online. People act like the end is here for crypto, but fail to imagine a world where i can mine 10 btc with my cpu again. Its never going away.
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So much stress that I think its time to boot up those CPU and GPUs again and take some power back people! Mining is back to its Early Summer/Spring days and likely to hit winter levels in the next few days
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It is difficult at the moment. nobody can say how bitcoin would move in the next couple of weeks as we go oin to the New Year... But investors are still hodling their coins...
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