Undoubtedly, the first ones to suffer from changing price are individual miners and mining firms. Nowadays the situation has its own peculiarities because of the upcoming Bitcoin halving.
In order to survive halving miners have to upgrade mining equipment. This comes from the necessity to change all the indices, such as hashrate, the consumption and cost of power. Otherwise mining will not be profitable anymore. Thus miners take their time to prepare for the event. Most of them have started around half a year ago.
Right now the situation is complicated by the downward price trend. This price drop makes it highly unprofitable for a lot of players to stay on the market. There is a possibility that if the price does not change the trend, some of the mining firms will have to shut down. Also if the price goes further down in the nearest weeks, we may see some miners to quit already. First of all, this is going to affect smaller miners who do not have enough facilities to wait out the current situation. However, miners who feel threatened by the circumstances may consolidate. Then we will see a decrease in the number of individual miners and small mining firms.
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