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Unprofitable Miners Are Fleeing Bitcoin Network Ahead Of BTC Halving

Ramsey Baker

Summary: With Bitcoin’s halving only a few hours away, many miners are shutting down their rigs, according to Poolin VP Alejandro De La Torre. On Monday, De La Torre said that miners are abandoning the industry because “All older machines will no longer be profitable unless they are mining on nearly free electricity or if the ...

With Bitcoin’s halving only a few hours away, many miners are shutting down their rigs, according to Poolin VP Alejandro De La Torre.

On Monday, De La Torre said that miners are abandoning the industry because “All older machines will no longer be profitable unless they are mining on nearly free electricity or if the price shoots up by 2x or more.”

By Ramsey Baker

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