Mining Bitcoin Forks has become more profitable than BTC, miners retreating

For a long time, Bitcoin has stood the test of time as the most profitable crypto to exploit, and thousands of miners have established bases all over the world. Equipment manufacturers have developed equipment specifically designed for the operation of the BTC sector.

However, the current trend seems to have the effect of diverting the favor of higher crypto. Since the market became bearish after the fall of BCH, Bitcoin's value has declined, and with it hundreds of other crypto-currencies.

Bitcoin Mining is no longer profitable

For crypto-miners to make a profit, their operations must first reach equilibrium. This takes into account the capital invested in the mining platforms put in place and the power consumed. If a minor can not afford, he runs at a loss. This is the dilemma faced by many Bitcoin miners since the price took a hit.

In fact, hundreds of miners have since ceased their activities. Some even sold their mining equipment, signaling a growing sense of uncertainty surrounding Bitcoin's future in the bear market fueled by a civil war between its own opponents. In 2017, BCH was excluded from BTC. On November 15 of this year (2018), BCH suffered its own impasse which led to the creation of BCHABC and BCHSV, triggering a hash war between the two. BCHABC has since won and has been recognized as BCH.

BTC Vs BCH

When the crisis hit, the miners used their resources to exploit the new blocks. Since the price of Bitcoin began to fall, BCH and BCHSV mining has become more profitable and therefore more attractive. The interesting part is that just two weeks ago, bitcoin mining was 300% more profitable than BCHSV mining. Today, the operation of BCHSV is 25% more profitable than Bitcoin.

This is a rather interesting scenario because this profitability will increase again if the price of Bitcoin increases. It's a fact that BTC takes the rest of the market wherever it goes. As such, it would be interesting to see if the best-selling item finally claims its number one position as the most profitable to exploit among its 3 variants.

Factors to consider

As the current situation of Bitcoin mining shows, profitable exploitation is not limited to the market price. Hashrate, network difficulty and bulk rewards are among the most important factors.