In the field of digital currency, Bitcoin has always been the focus of much attention, especially every time Bitcoin is halved, the entire market will set off waves. Recently, with the arrival of the Bitcoin halving event, more and more miners have found that their mining machines are facing unprecedented challenges: mining has become unprofitable, and up to 30% of Bitcoin mining machines are facing the fate of shutting down. This phenomenon has triggered widespread discussion and concern in the industry, and people have begun to re-examine the future direction of Bitcoin mining.

 Mining is unprofitable? The dilemma behind the halving

The halving of Bitcoin means that the mining reward of Bitcoin is halved once every 210,000 blocks, which means that the number of Bitcoins obtained by miners is halved. Although the halving event is intended to control the total amount of Bitcoin, it may bring a heavy blow to miners. After the halving, the cost of mining remains unchanged, but the number of Bitcoins mined is halved, which leads to a sharp decline in mining profits.

Mr. Wang, a miner from China, said: "After the halving, our electricity bills, labor costs and other expenses have not decreased, but the number of bitcoins mined has dropped sharply, causing our profits to plummet. Now, we have to consider whether to shut down some mining machines to reduce losses."

 Mining machines face shutdown: industry turmoil

It is reported that up to 30% of Bitcoin mining machines are at risk of shutdown, a figure that shocked the entire industry. In the case of large fluctuations in Bitcoin prices, miners have to face the uncertainty and risk of profits. Some small mines have begun to shut down mining machines to cope with market uncertainties.

Industry insiders pointed out that the risk of mining machines facing shutdown is not just a problem for individual miners, but may also cause turmoil in the entire industry. Once a large number of mining machines shut down, the computing power of the entire Bitcoin network will be affected, and may even cause network instability. This also makes people begin to rethink the sustainability and future development of Bitcoin mining.

 Adjustment and transformation of the mining industry

Faced with the difficulties of the mining industry, miners began to look for new ways out and solutions. Some miners began to turn to mining other digital currencies, looking for more potential projects to make profits. At the same time, some mining machine manufacturers are also accelerating the launch of mining machines with better performance to help miners reduce costs and improve efficiency.

In addition, some miners have begun to explore the possibility of green mining, reducing the impact of mining on the environment by using renewable energy and other methods, and also giving their mining activities more sustainability. This transformation is not only in line with the trend of environmental protection, but also helps miners stand out in market competition.

 Conclusion: Where is the future of the mining industry going?

After the Bitcoin halving, the difficulties and challenges of the mining industry cannot be ignored. The news that mining machines are facing shutdown has aroused people's concerns and thoughts about the future of the Bitcoin mining industry. At this critical moment, miners need to find strategies to adapt to market changes and seek new development opportunities in order to survive and develop in the fierce competition.

With the continuous development of science and technology and the adjustment of the industry, the mining industry will also usher in new changes and opportunities. Only by continuous innovation and seeking breakthroughs can miners be invincible in the future era of digital currency. Bitcoin halving is just a node in the development of the mining industry. Only by keeping up with the pace of the times and seizing opportunities can we win future success.

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Mining unprofitable after Bitcoin halving? About a third of Bitcoin (BTC) miners and mining companies may have shut down their machines because mining is becoming unprofitable due to the significant reduction in block rewards.

The third Bitcoin halving took place in the early hours of May 13 -
This will reduce the supply of this groundbreaking cryptocurrency and thus reduce the reward paid to miners for solving mathematical puzzles (from 12.5 BTC to 6.25 BTC)

Miners accounting for 15% to 30% of the entire BTC network hash rate are already in the process of shutting down as profit margins come under pressure.

Companies that operate inefficient "old generation" mining equipment due to rising electricity costs (such as Bitmain's S9 miners) will be the most affected.

The first 1008 blocks after the halving will be mined slowly due to the large number of unprofitable miners leaving the network. Considering that the first 1008 blocks will have the pre-halving difficulty but halved rewards, we estimate that this will squeeze 30% of miners from the entire Bitcoin network.

Miners face periodic halving pressure because the event will greatly affect mining companies' revenue.

Some experts believe that the rise in Bitcoin prices can make up for the decline in revenue, and this performance is usually associated with previous halving events. However, if the price falls, less efficient miners will be squeezed out of the market more quickly.

De La
Torre, head of international business at CoinIn, said that "mining is a long game about survival" and that if companies cannot adopt more efficient mining machines or find cheaper electricity, they will be forced to "surrender."

He said: "While we expect most of these miners to shut down after the halving, some of them may have enough advantages to survive for a long time in the future."

In order to control inflation, the Bitcoin mining reward has been reduced from 50 BTC in 2009 to 6.25 BTC this year.