Home / Bitcoin / Is the price of Bitcoin going to kill the bitcoin mining industry?

Is the price of Bitcoin going to kill the bitcoin mining industry?

Chinese Bitcoin Mining Companies shutting down

Recently F2Pool which is one of the largest bitcoin mining pools reported of shutting down 800,000 miners are selling them by the 'Kilos'.
The bitcoin hashrate dropping from 61.8 million tera hashes in late

Russian Miners selling their equipment despite the cheap electricity rates

In Russia, reports are coming out that are unsurprisingly squeezed out in regions where electricity is super cheap. Miners are now looking to sell their old hardware instead of staying in the bitcoin mining game.

Sweden Attracting Bitcoin Mining Companies

After the first wave of refugee miners. Sweden's municipality of Boden which already has 10 different bitcoin mining farms located in the region. The local business agency director said that the bitcoin mining companies from Norway have already started to inquire about the facilities in Bodan and said that they will be very happy to see them.

Paraguay to support 'Golden Goose' Bitcoin Mining Project

The Vice President of Paraguay has declared his support for what is called the Golden Goose project. This would be the South Korean Blockchain Foundation 5 farms on Paraguay State-owned land. The data center will be next to the Itaipu Hydro Dam. This hydroelectric dam produced the highest amount of energy of any hydroelectric dam in the world. Crispto Miners Who Want to Build the Greatest Bitcoin Mining Farm just next to the dam. This is just an idea at the moment.

Large Bitcoin Mining Farm opens up in Armenia

In Armenia, a new $ 50 million bitcoin mining farm building has been opened up and backed by real estate company Multi Group Concern. 120,000 bitcoin mining machines. This will put Armenia in the bitcoin mining world map.

I know the bitcoin is not killing the mining industry and even if the price falls even more underneath the $ 2000 range as being predicted by analysts, there are new bitcoins mining machine models coming up which will consume very low levels of electricity and keep the mining industry running successfully.

Source link