Experts Predict that at least 20% of Mining Machines will Close After Bitcoin Halved

Abstract : The change in market supply and demand was the main factor affecting market trends.

ChainDD
ChainDD

May 14

May 14 (ChianDD) According to the Securities Daily, after the third halving of Bitcoin, if calculated at the price of 0.38 yuan / kWh, at least 60 mainstream Bitcoin mining machines including the "King" Ant S9 Miner will lose money when they start up. Besides, their daily net income is negative, which could lead to their elimination from the industry, said experts of F2Pool.

Wu Tong, deputy Director of the CECBC Blockchain Special Committee of the Ministry of Commerce and Dean of the School of Digital Economics, commented on the newspaper, "For Bitcoin mining industry, there will be about 20% -40% of miners closed in the short term, because the revenue calculated with the stable price is reduced; while in the long run, with the arrival of the rainy season, the computing power will rebound and finally reach to a relatively stable state.During this process, the small and medium-sized machines will inevitably shut down, and the industry concentration will increase. Thus the head competition will also be more intense. "

Hu Jianing, President of Huobi University and deputy Director of the Blockchain Special Committee of the China Communications Industry Association, believed that the cost of mining was not the core factor that determined the price of the Bitcoin market. Instead, the change in market supply and demand was the main factor affecting market trends.

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