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Among the reasons, there is the decline in the prices of digital currency, the low profitability offered by equipment manufactured between 2016 and 2017 and the rise in electricity costs in China due to the arrival of l & # 39; winter.
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A report published by the swimming pool minor F2Pool indicates that between 600,000 and 800,000 minors Bitcoin They stopped using their devices in the last two weeks of November, which caught the attention of the community because of the implications this could have for the operation of the network.
In this respect, the founder of F2Pool, Mao Shixing, commented in an interview conducted by the team CoinDesk calculated from data from various sources, including HASH in the network and losses reported by older aircraft operators due to lower Bitcoin
One of the sources of extraction of most information is the portal Blockchain.info, which provides data badociated with the operation of the network Blockchain of Bitcoin, publication indicators such as the level of HASH and the degree of congestion. The data reflected indicates that the power of HASH It fell from 47 million to 41 million TH / s, recording the steep drop between November 10 and 24, which represents a 13% decrease
Shixing explained that this was due to the fact that many operators were using older models for this activity, as in the case of peripherals. Antminer T9 – made by Bitmain – and the AvalonMiner 741 – produced by Creative Canaan. This is because these models provide an estimate of around 10 TH / s, which generates losses given the current price of Bitcoin
At the level of F2Pools, Shixing said that the volume of operations has fallen sharply in recent weeks, the rate of HASH network was reduced by more than 10% over the period.
Shixing added:
It is very difficult to accurately calculate the number of miners who have stopped operating with us, but we found that more than 10,000 users have stopped operating their devices, particularly the mining operations with which we had regular contacts.
Among the factors that led to the cessation of operations, Shixing said that minors equipped with older devices opt for the sale of their products. materials be recycled and recover to a certain extent the investment originally made. He also indicated that part of the controversy was related to the Hard fork recently done for the network of Bitcoin Cash, as well as by the fact that when winter arrives in China, the price of electric energy generally increases.
Other reasons cited by the administrator F2Pools they are the existence of new mining equipment more powerful on the market, which has resulted in the disincorporation of the oldest because of their lack of competitiveness, which has worsened in light of the decline in the price of Bitcoin, aspect that affects mining operations that operate with appliances of the years 2016 and 2017.
To conclude, Shixing concluded:
All the factors mentioned above are combined at this stage, which has led operators to no longer maintain their active mining devices.
Source: CoinDesk / ToshiTimes
Version of Angel Di Matteo / DiarioBitcoin
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