Bitcoin (BTC) Miners are Waiting for Hard Times

According to a new Network Status report published by cryptocurrency research firm CoinMetrics, many miners will quit mining in the coming days.

After the great collapse on March 12, there has been a serious decrease in hashrate rates. Many miners who could not afford their costs also left the job. Despite the third half, which will take place approximately 43 days later, the mining industry is in a very dangerous position. Supply cuts will occur in Bitcoin Cash (BCH) and Bitcoin SV (BSV) in early April. This means miners flock to the leading crypto asset. Miners who are already in a difficult situation will be even more difficult with the arrival of new players and many small miners will have to quit their jobs.

Even large mining companies have suspended cryptocurrency mining activities for a while due to Covid-19. Given the decreases in bitcoin price, post-half uncertainties and the global epidemic, only major miners will be able to survive in this process.