Post
Topic
Board Bitcoin Discussion
Re: Is it possible that number of miners will decrease for a while?
by
Debonaire217
on 14/05/2020, 06:07:26 UTC
Mining might not be so profitable for some miners now after halving so it's likely to happen.

Perhaps, if they are still getting profits, they will still continue mining, but I am pretty sure that hardware impacts their decisions as well, according to this article: Mining rigs that are old enough, isn't as effective as those that are new, built more efficiently. This means that these mining rigs aren't gaining profit because of the huge consumption of electricity, unless, if there is free electricity. In addition, bitcoin rewards decreases significantly, pushing the miners away and it is really happening.