Worth mentioning that mining will follow Moore's law.
but here is the rub...
before intel jumped in. bitmain asics may have sold even at break even 100btc every 2 hours 40minutes to the markets..
they are now at a loss. meaning they are not going to sell their 95coin share to the markets. thus the push down on markets is reduced by 95btc every few hours less sells occuring.
bitmain now have an average cost of $31,350/btc so wont sell for less than this.
if the entire open mining network cannot make coin anymore for ~$30k and instead it costs them $31,350 for the most (previously efficient) miners to mine. then everyone has a decision to make.
I want to belive that this is because bitcoin mining has hit the pinnacle of Moore's Law, which states that processing density doubles every 18 months, there are no more huge jumps left. But even so, as the race for more density chips is paired with a race for higher density data centers where thousands of these chips may be put, the network's mining power would likely continues to grow at an exponential rate. It's no longer a question of how much mining can be done with a single chip, but rather how many chips can be crammed into a building while still dissipating heat and delivering sufficient power.