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Sunday, March 08, 2020 12:27:29 PM
...If the price of bitcoin stays flat or drops further, mining becomes less profitable, putting unbearable pressure on independent miners and smaller operations. That comes at a time—the “halving,” expected in May 2020—when miners will want to upgrade to those 7-nm chips to handle the more complex and computationally intensive proof of work.
This looks like a perfect storm for everyone except the big mining operations. The virus and its consequences caught lots of miners by surprise. Those who didn't upgrade earlier enough are now facing dire consequences. Some observers say that this collective upgrade will result in a mining catastrophe for many farms, which are still recouping capital expenditures from the purchase of their old mining rigs. What’s worse: the new chips on the block also drive up hashrate, making it more energy-consuming for the oldies to mine BTC. ...
https://decrypt.co/21710/chinas-pending-bitcoin-mining-catastrophe
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