Since mid November, due to the network price and the hash value decreased about 700 thousand bitcoin miners have been closed.
The closed machine company considered the total network hash value decreased, and the average power of the old hash mining machine is difficult to generate profits. Bitcoin network the hash value from close to the 52EH/S 11 month now down to 40EH/S.
Most likely to stop the operation of the miners, it is likely that use the old models of the miners, such as Antminer T9, bit manufacturing and Jia Nan Yun Chi + manufacturing AvalonMiner 741. These miners scattered the average power is about 10 TH / s, is now estimated losses.
There are many factors that lead to the miners unemployment, including the recent market decline after 11 15 April bitcoin cash cost China bifurcation; power increases; in fact, manufacturers are still in the race to upgrade their products, so that the old machine more and more lack of competitiveness. All of these factors are overlapping, causing the recent phenomenon.
With the arrival of winter, hydropower station is experiencing a drought season from summer to winter, electricity cost has doubled. The cost of electricity in the summer China southwest mountain may be less than 0.2 yuan, but at this time of the year, the price will reach 0.3 yuan. Although other fossil fuel power stations, for example Chinese in Xinjiang Province, is likely to be much more stable speed of power, but the overall cost is still at least about 0.28 yuan per kilowatt hour.
Because the price of bitcoin recently fell to lows below 4 months below $4000, thus achieving low balance in 2016 and 2017 only mine production capacity is lower.
Bitcoin mining is a dynamic process of adjustment, which means that when the hash value decreased when mining difficulty will decline. The latest data show that bitcoin mining difficulty in the past few days have been slightly decreased by 5%.