Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Bitcoin Mining Revenue Hits New Low in August 2024
by
dzungmobile
on 04/09/2024, 10:35:57 UTC
⭐ Merited by d5000 (2)
I honestly expected a more significant dip in hashrate/difficulty after the halving, and certainly not a complete recovery until July/August, despite a relatively weak price performance.
Usually, weak mining companies will give up and hashrate can have dips but several months before this halving, I read that one or two big mining companies were buying ASICs from small mining companies. It's several months and I fail to remember the names but this information can help to explain why hashrate did not dip too much, because ASIC migration already happened before the halving, gradually so people did not notice it.

With small miners, it's good preparation to cash out and avoid shocks from the halving but with big miners, it's good chance for them in long term.