Bitcoin Mining Equipment Began To Enter The Secondary Market In Large Quantities After The Chinese Authorities Ordered The Termination Of Electricity Supply To Farms, Writes The Block .
According To The Blockchain, Capacities Were Turned Off, Generating About 50 Exahashes Per Second. This Was Preceded By Measures Against Miners Taken In Two Large Bitcoin Mining Centers Xinjiang And Sichuan From June 9 And June 18, Respectively. Back In April, Many Experts Stated That The Share Of The Chinese Hash Rate In Bitcoin Mining Dropped To 40%. It Is Estimated That Three Quarters Of Chinese Miners Have Disconnected From The Network In Recent Weeks.
“in China, About 70% Of The Resources For Bitcoin Mining Have Been Turned Off. At The End Of The Month, The Value Will Be Closer To 90%, “Wrote Kevin Zhang, Vice President Of The American Mining Firm Foundry.
While It Is Not Possible To Determine With Certainty How Many Pieces Of Equipment Have Been Disconnected From The Grid, An Estimate Can Be Made Based On The Characteristics Of Each Model. Based On The Fact That These 50 Eh / S Were Generated By The Latest Generation Of Bitmain’s Antminer S19 Pro Miners, It Turns Out That Approximately 500,000 Such Devices Were Disabled. To Provide The Same Hashrate On The Antminer S9 A Year Ago, 3.5 Million Machines Will Be Required.
The Real Meaning May Be Somewhere In Between. These Devices Are Most Likely Looking For New Owners Or Moving To Other Countries, Including Kazakhstan, Russia, The United States And Canada, The Block Notes.
The Supply Of Mining Equipment To The Secondary Market Was So Significant That Bitmain Decided To Suspend Worldwide Sales, Excluding Pre-orders. The Company Confirmed On Wechat That This Was The Reason For Its Decision, As It Does Not Want To Make Life Difficult For Customers Who Already Find It Difficult To Sell Their Equipment. At The Same Time, The Reduction In Prices For Equipment Reaches 30%.
