On July 2, the day before the adjustment of the difficulty of Bitcoin mining, the daily income of Bitcoin miners was about 20.7 million U.S. dollars. On July 6, the daily income of Bitcoin miners was about 31.9 million U.S. dollars, and the revenue of miners increased by 54%.
Unbelievable?
It is nothing more than many miners' hashing power that goes offline under high pressure. It's like when a place is crowded with 10,000 people and suddenly reduced by half. The remaining half naturally enjoy the dividends brought by the "leftovers", and natural income growth can increase to 50%. When a large number of miners are back online, their income levels will eventually level off.
The current situation is that small and medium-sized miners are looking at the miners' income now and start to think of ways to get the miners online. Even some of the new miners, looking at the miners' current income level, which is higher than 60,000 US dollars in Bitcoin, try their best to mine too. This situation leads to a "see-saw" among the miners. The miners who shut down before guarding the mining machines that cannot be turned on are helpless and try their best to change the mining machines in their hands at a low price or even sell bitcoins to recover the cost. On the other hand, the new miners continue to mine at maximum capacity and obtain the most significant dividends in the shortest event.
Are the mining machines worldwide absolutely safe?
This is not necessarily true. Due to excessive power consumption, the Iranian Vice President stated that all Bitcoin mining operations must "completely" stop production to ensure that there will be no power outages in essential areas. In addition, residents of New York accused Bitcoin mining plants of heating the lake and possibly killing the creatures in the lake.
With the domestic prohibition in China, many mining machines have tried their best to go abroad. Before, the power consumption was not particularly obvious, but as the number of mining machines increased, the power consumption increased significantly. After conflicts with the leading business in the region, it is no surprise that the original supportive attitude has turned into opposition.
China's attitude towards Bitcoin and Bitcoin-related activities is rather apparent. In other words, this attitude never changes since 2013, but with the increase in the number of participants, the crackdown has become stronger.
The slight glimpse of hope for the users shattered again and again. In the new round of Bitcoin hashing power adjustment, the shuffling effect of the mining industry in the past is enormous enough, and the mining industry, especially in North America, is also showing signs of promotion. In the future, as more institutions invest in Bitcoin, Bitcoin mining methods may change.
Perhaps in the future, we can see that every Bitcoin is mined through clean and green energy to solve the environmental problems caused by bitcoin mining.
Written by: 41Financial
For enquiries: 41Caijing@gmail.com
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