Bitcoin Halving 2020 Spells Doom for Older Mining Rigs

With a little over six months left until the next Bitcoin halving, the mining rig industry is busting a gut to meet changing demands. This applies to Bitmain, Pangolin, Ebang, Innosilicon, and pretty much all other established brands in the trade.

A new wave of Bitcoin mining rigs is hitting store shelves — each packing incrementally more power to give users an edge over competitors. At least some of these new rigs are up to 500% more powerful than their predecessors in terms of hashrate.

Hashrate, which basically underlines the net processing power on the Bitcoin network, reached its all-time high of almost 108.5 million TH/s earlier on Sep 26. That’s a gain of over 160% since Jan 1, 2019, when the corresponding figure stood at just under 42 million TH/s.

One notable contribution to this sharp rise comes from the arrival of next-generation mining rigs capable of delivering higher hashrates. Read More...

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