Chinese miner Xu Feng, who owns several bitcoin farms in Sichuan, says many of his colleagues are ready to start working again.
"A large number of bitcoin miners, who suspended work last October, are again ready to start mining cryptocurrencies."
Recall, due to the fall of the crypto market last year, many miners switched to “autonomous mode”, as it was unprofitable to mine BTC. Now Xu says that the situation will soon recover.
Xu has six mining farms, three of which are under construction. When the work on the arrangement will be completed, he will be able to accept about 100 thousand Bitcoin miners. According to the businessman, he expects to make a profit next year, when the remuneration for the extracted Bitcoin block will be halved.
After the departure of a large number of miners, the Bitcoin hashrate fell from a record high of 60.4E to 33E. If cryptocurrency mining is activated, a higher hash rate is expected. This can have a positive effect on the value of digital gold.
