Up to 30% of BTC miner are obsolete

According to the recent report made by Alejandro De La Torre, up to 30% of miners in Bitcoin network may have to quit after the recent halving.

Some of BTC miners will have to leave the industry.

Alejandro De La Torre is the vice president of one of the largest mining pools in the network. He notes that each reward halving makes less effective miners leave the ecosystem. The report includes the breakdown of the lowest quartile in Poolin network. This is about miners that produce from 0 to 25 terahash/sec.  37% of miners in this quintile (or almost 10% in total) used machines processing from 6 to 14 terahash/sec. In order to illustrate how outdated these systems are it is enough to recall that the latest machines can produce 100 terahash/sec.

Analyzing the Poolin’s miners characteristics over the whole BTC network, De La Torre concluded that up to 30% of bitcoin network miners used to mine with less than 25 TH/s, and they will likely appear to be inefficient now.

According to BitInfoCharts data, the hash speed in BTC network was constantly rising until it reached the historic maximum of 123 equivalents per second just at that very moment when the reward was reduced by half. And still there has been no signs of decrease.