Topic: Massive drop in Hashrate (50%) ~100 ExH/S (Read 794 times)

I have mentioned many times that we are unlikely to double the difficulty anytime soon and since last year my protection has been that difficulty will go up slowly unlike the common thought, but have I ever thought about going back to 14T? not even in my wildest dreams, if anyone told me this was going to happen a few months back I would have thought they were full of it.

yeah i agree it was probably based on a short time period and the network was a bit lucky.

I think 175-182 is a better number for alltime high.

Amazing we have  another drop over 10%. It is early maybe we comeback since the gear to bring us way back up is out there offline.

Just noticed this number - I suggest you tell coinwarz they got it wrong.

The max Difficulty was 25046487590083.3 which means 179EH

I guess they looked at short term unreliable values that are expected to vary a lot, no doubt during that same diff change they would have seen much lower short term values as well as that high short term value, but ignored the low ones that average it out.

That was also a 21.53% diff jump to 25T in the middle of two big negative diff drops (-12.61% and -15.97%) so even 179EH could have been an over estimate.

Well would you have thought the diff would be 14.4 and dropping to 12 and change.😊

It goes to show us all Mining ⛏ can be very unpredictable!

I agree, it does seem like it has been poorly explained judging by the number of people who talked about it in the last adjustment, since this is a new event to most people including myself the >25% drop was very famous, I saw many folks talk about how were are going to pass the maximum change allowed, which does prove your point that most articles falsely (and hopefully not intentionally) explain it as a max drop as if it's 25%, I think it would be a lot better if they get rid of the 25% or 1/4 wording and just stick to 75% and %300 because

1- most people prefer to work with multiplication than division
2- most people care about the drop rather than the difficulty/target figure itself.

I suppose the fellow miners would prefer to hear they are getting say 50% more rewards than say the difficulty is going to drop to 7T, the latter is somehow very difficult to reflect on your mining earnings.

You are correct, based on my reading of the relevant code, what actually happened, and the relevant wiki articles, the correct way of explaining maximum changes in the difficulty is that the difficulty can be no less than 25% of the previous difficulty, not that it can change downwards by no more than 25%.

The difference is a single word but it makes a big difference.

1.2 gh in ltc on old L3+ gear burns 2000 watts

it earns 22-23 usd  in LTC/Doge pre power so 23/2 =  11.50 usd per 1000 watts


the new L7 does 9.5 gh or 174-182 usd in LTC/Doge so 182/3.3 = 55.15 usd per 1000 watts


Now the s17pro set to vanish firmware can do 40 th at 1000 watts 40 th is 9.20 per 1000 watts toss in the new diff

and do $9.20 x 1.27 = $11.69 per 1000 watts.

Now all major mined coins BTC, (LTC+DOGE),ETH

dropped in hash bigly (whether you like or hate Trump bigly is a cool for to use)

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BTC dropped from

191.4 on May 9 to 84.5 July 1

https://www.coinwarz.com/mining/bitcoin/hashrate-chart

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LTC/Doge
 LTC 396 June 7  178 July 1
https://www.coinwarz.com/mining/litecoin/hashrate-chart
Doge 446 June 10 224 July 1
https://www.coinwarz.com/mining/dogecoin/hashrate-chart

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Eth
687 may 20   527 July 1
https://www.coinwarz.com/mining/ethereum/hashrate-chart

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Notice Eth is the least fucked up most likely because it is the most widespread out of china. It is easy to own this piece of gear in a home

https://www.bestbuy.com/site/hp-omen-gaming-desktop-amd-ryzen-7-5800x-16gb-memory-nvidia-geforce-rtx-3060-ti-1tb-ssd-jet-black/6454567.p?skuId=6454567. mine while you sleep and game and use it as a pc. 


So the hashrate was fairly stable compared to BTC or LTC/DOGE

I am thinking if and when gear goes online if Bitmain still exists and has not been imprisoned by China they will be adding on LTC L7 ahead of any other gear.

If I can read the major hash rates on the 4 biggest pow networks so can they.

Should be very interesting to see shit come back on line.

Remember L7 is a killer beastly improvement over L3
and Their eth asic is like 30x 3080 cards.

I like to think there is a great silver lining to all of this.

BTC is stupidly undervalued!

It will go over 70 k this year more like 95-110k.

That's a good point, we all know there are a few people around here who can't stand the sight of comments talking about anything else that is not bitcoin even if it directly affects bitcoin, I am all about bitcoin and I don't like most of those other coins but if it's going to affect BTC in one way or the other, it's always worth mentioning.

The L7 will keep many folks away from mining BTC, which will help in keeping the difficulty low for us, do I care what happens to LTC? hell NO!, is that good for BTC miners? hell ya.



As long as our gears are making coins, who cares about us?

https://www.npr.org/2021/06/29/1011269025/photos-the-pacific-northwest-heatwave-is-melting-power-cables-and-buckling-roads

It's far above normal, but it not just that. There is a difference between hitting 95F for an hour or two in the highest point of the day and then dropping down or like it is now with it just sitting at that temperature for hours and hours.


I'm the opposite. I can take the heat, but the cold just makes me ache. I hate putting on layers and layers of clothing just to go outside for 10 minutes.

Here in NY, it's not been terrible. It's just fact that it's the end of June, and this is the middle of August kind of heat.


Why would they even bother to convert ltc and some other coins to BTC?
They can sit on it. They should have more then enough BTC to keep paying out what they have to.

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It's going to be interesting to see what happens over the next few months. Will the big farms that are not part of the miner manufacturers come back online or will they start selling off their gear in with the plan to have money available for when the new more efficient gear comes online.

-Dave

I'm not in a hot place like Mikeywith is, but still, 90F/32C (?) sounds like something usual for the start of the summer, the temperature in both Vienna and Prague have already hit that mark, and it's not July yet.  I just look at the average temperatures for Seattle and from what I see there have been quite a lot of times when it went past that so if you're building your farm with that little tolerance....

I'm more concerned about the dust than the heat, the last dust storm that managed to pass the Alps left such fine dust on everything, I'm seriously thinking of adding some Stihl blower filters from the old gear around the house to clean what's going inside once more.


The gear cooling might be badass but I think your own body cooling is far more intriguing, I can easily deal with -25C, but when it goes above 35-57C I turn into a useless mass of precooked jelly.

That is smoking hot.
We did 97-98 f.  today.
Which is hot for us.

the asic room did pretty good.

Some downclocks. braiins has been very good at helping the gear stay up.

Allow me to praise myself, I did not have to shut down a single gear while temps here been ranging between 104F to 116.6F aka 40c to 47c even at night, many schools and businesses did shut down this week because of this, my gears on the other hand which are mostly S9s are mining non-stop, I suppose I got some pretty bad-ass cooling going on.

found some good comparison info from 8 hours ago. this show hash at less than 144 blocks a day bu better than -25.66% pace.
It is a small slice of the scale and variance could mean we are still off more than -25.65%






I know no-one wants to talk about other algos but

bitmain has 3 cloud deals
Bitmain mines more than 1 algo

so when they go back online they will pick which Algorthims  go online first.

This give them a lot of very interesting choice.

ie do they deploy L7+ units over s19pros

and buy BTC with LTC and Doge earnings.

ie do they deploy Eth asics

and buy BTC with Eth earnings.

Remember they are a very large powerful business.

Making business choices like this are pretty easy.

L7+ gear destroys the profits of Any and all sha 256 gear on a $ per watt basis

Eth asic gear buries the the profits of any and all sha 256 gear on a $ per watt basis.

I know people hate this info but it is what it is.


https://www.coinwarz.com/mining/bitcoin/hashrate-chart
https://www.coinwarz.com/mining/ethereum/hashrate-chart
https://www.coinwarz.com/mining/dogecoin/hashrate-chart
https://www.coinwarz.com/mining/litecoin/hashrate-chart

Yes it does, small units yes are days or at most a couple of weeks.

Larger units, can easily take months and months. Unless you have a large amount of money to throw around. This is not even a friend of a friend thing. *I* know 2 places, both customers of the company I work for that had to have a 20MWA transformers replaced. Both took 120+ days between PSEG telling them they had to buy new ones and the delivery. And they were ordered within hours of the go-ahead since the issue was known. Could have had a pair of 10s in within a month or less. But the larger ones, nope.

*Yes you can get used ones, or non "name brand" ones, or imported ones for less. Good luck getting insured or an electrical inspector to sign off on it if you put those in.
And that is what causes people to think you can get them sooner. There are a lot of used / refurbished ones out there that are 100% fine. Ford can put them in their factories since Ford is responsible to Ford and a Ford electrician signs off on it and they are insured by some company they can boss around. Dave's customer in a small industrial building whos unit was failing when hitting 80% got no choice. They had to get new.

But, back to the hashrate drop. Due to the heat hitting the US Pacific NW I know there are some places that cannot keep up with cooling so they are shutting off miners during the day. If you based your cooling on 90F as max sustained outside temperature, with 95F as a limited daytime hours temperature and it's been hitting 100+ every day for hours and hours, yes you might be shutting some things off before your cooling system tells you it's going on vacation.  So there is some loss from there too.

-Dave

Well -


But 74.1511% simply needs tracking

in 12 hours see if it stays at 74.1511% or shifts to 75-76%

Variance plays less of a factor at this point.

I think but am not sure that the 74-76% Number has stayed that way after every 12 hours for the last 5 days

the actual number behind 583.55 has grown but of course it does not reflect  %. so if it grows to 586 in 12 hours the 74.1511% will move closer to 75%

I posted the details of that the other day here:
https://bitcointalk.org/index.php?topic=5307087.260
Limits are +300% and -75%

Ok let's just pretend there are enough previous factories ready to host nearly a million mining gear.


I have a strong feeling you are wrong, based on this code which enforces the difficulty adjustment limit


It means the difficulty adjustment can be anything equals or less then 75% to the downside.

So for simplicity, a 10T difficulty can change to any number between 2.5 and 40, unless i am reading code wrong which is unlikely but i got old anyway.

I am not sure I am understanding what you are asking.

Each difficulty period, the difficulty cannot change by more than a factor of 4. This means the difficulty cannot increase by more than 400%, nor drop by more than 25% from one difficulty period to the next. This means that if it took five weeks to find 2016 blocks, the difficulty would only drop by 25%. All else being equal, if this were to happen, it would take about 3.75 weeks to find the next 2016 blocks, so the difficulty would decrease by an additional 25% at the end of the following difficulty period.

Also, hash rate seems it might have picked back up a bit ...

Well, if you throw enough money at it, it could happen sooner, but this assumes that every future mining farm has to start building now for that to happen which isn't happening, as far as I know, we are talking about re-locating a few hundred thousands of mining gears, building the infrastructure for that is going to take a lot of money and time.

My guess is that most new mining farms outside of China will be owned by the Chinese themselves, judging by the gear prices and the current supply, there does not seem to be a lot of panic, it seems like most miners are still holding on to their gears and probably are already searching for a new home.

The problem is, it isn't just a matter of moving to a country with a cheap power rate, most of those countries are corrupted or don't have enough power, to begin with, the rest can be either hard to move to due to regulation and shit or are not so crypto-friendly, with all the carbon footprint b.s that has been going on, moving these gears won't be easy and I am pretty positive that the majority of hashrate that left will not show up till next year at best.

The only expectation would be BTC going to 100k-200k, demand on mining gears rises everywhere and those many gears get divided between small miners into small batches rather than whales shifting their operations, but as it stands right now, most of those gears are "homeless".

The only slow part is getting power connect (in EU/USA/Iceland/Canada) though it doesn't take 6 months to get transformers, if power is available.
No idea if it is slow or not in other countries.

Building capacity is very quick - I've seen it done from the ground up in weeks, not months.
6 months would be some noob who had no idea what they are are doing.
In this case they already have done it at least once before ...
Often also, the basic structure already exists from previous factory use, so that can speed it up also.

Those 3 pools represent close to 40% of the total hashrate which is a fact judging by the number of blocks they find, so I agree, it still is a matter of accuracy, but the fact is, the numbers in China are more likely to be more than shown in the study, simply because there are many large farms in China that mine solo, while most other non-chinese miners are mid-range operations who mine to pools, so if the study shows 70% at any given time, it's probably 80% or so.


If the question is just how much and not "when", then it really all depends on the price of bitcoin, given that the Chinese have an average of 2-3 cents per KhW ( accounting for the hydro season) it will be close to impossible for these gears to be profitable elsewhere, which means many many gears won't find a new home at current prices.

If the price spikes and we are able to create a brand new equilibrium, then all gears will come back online elsewhere, but for that to happen 6-7 cents running 90w/th gears have to be profitable at full blast and not just the current difficulty, and quite honestly I don't see that happening anytime soon.

If it is a question of "when" can that happen, it will take a very long time, maybe next year at best, I see people talk about the fact that all gears in China can run on a 4-6GW which relatively is a small number, but they fail to understand that building infrastructure for such capacity is a huge thing which can't be achieved in a few months.

It is good to know that ASICs are moving out of China without issue. Obviously I was speculating when I suggested that miners might get seized by the Chinese government. I would point out that there are no property rights or due process in China when dealing with the government. It also should not be a secret that the Chinese government is hostile to Bitcoin, in part because it makes it more difficult for them to control their people.

Interesting read. As they noted, they assumed that the distribution of miners is representative of the three pools they surveyed, and this may or may not be true.

The difficulty dropped by 18% in 2011, and since then, it has never dropped as much. From the looks of it, the difficulty will drop by more than 18%, making it the biggest difficulty drop in history, and there is a decent chance it will drop by the maximum 25%.

A 51% attack could result in major bitcoin related businesses suffering losses after falling victim to double spends. It could also result in all other miners getting any of their found blocks being orphaned.
The chips are made in Taiwan, but I believe the miners themselves are manufactured in mainland China.

Well that is the question how much comes back on line.
I have seen offers for huge moq worth of used mining gear.
So obviously all has not been seized or destroyed.

I can go on telegram and find 5 major sellers selling 1eh worth of used gear.

But 70eh went off line.

So how much comes back?

Personally I think we get another drop after this one.

this one will drop from 19.9 to 15.0
next drop I think and or guess will drop us to 13.5

Just so you know there is no "seize" in this, not sure what the news is saying but the truth of the matter is I have helped a few clients order a few hundred miners from China in the past few days and some of the gears have already passed China borders with no issue, the Chinese government told the miners in some regions to stop mining, so mining is "illegal" but owning/selling/buying Asic gears is NOT, so if the government is going to seize anything (which I doubt) it will be a small percentage of gamblers who still mine in "secret", but that is just a small number of miners which doesn't make a huge difference.


Here is one > https://cbeci.org/mining_map

There is honestly a ton of evidence that suggests China "had" more than 50% of the hashrate, it's all over the place you don't even need to research it, after this mess is over, the numbers will change but we don't know to what extent, it will take some time for the data to be accurate again.


On a side but related note, we are about to have one of the largest difficulty drops in Bitcoin's history.

Well one must remember that the only 51% attack they can do that anyone would care about would be to control a % of what transactions are confirmed.
So while that is indeed an issue, it's not a case of what many seem to think that a large mining cartel could change the rules of Bitcoin - coz they can't - doing that just produces an altcoin and a matching drop in the Bitcoin hash rate.

However, since the ASIC chips used in miners are made in Taiwan, not China, I suspect that China invading Taiwan to make this happen would have much more far reaching effects than just Bitcoin

Yes, assuming a 25% drop later this week, the difficulty will have dropped a total of about 40% from its peak. I think a 14 day measurement is too long because equipment is consistently being brought online and potentially taken offline. So as of when difficulty peaked, there could have been enough equipment online for the difficulty to increase at the end of the next difficulty period if the equipment that was online remained constant. Also, the projected difficulty decrease at the end of the current difficulty period has gone down over time, and this tells me that additional equipment has been taken offline over time, so again, once the difficulty decreases, assuming the same amount of equipment remains online, the difficulty would drop at the end of the next difficulty period.

If the Chinese government has control of 50% of the mining equipment that exists, it can potentially execute a 51% attack against bitcoin. Much of the production of ASICs is done in China, so the Chinese government could seize outgoing shipments of miners as they are being shipped overseas, and the Chinese government could force mining manufacturers to produce additional ASICs for the Chinese government. There is also a chip shortage worldwide, so manufacturers outside of China are going to have problems with production.

If the Chinese government does not do anything with the equipment taken offline, you would be correct that seizing equipment is good for US based miners. Bitcoin is censorship resistant, and gives people freedom to transact without government permission. These are two things the Chinese government does not like, and bitcoin makes it more difficult for the Chinese government to control its people, which is one of its goals.  

Do you have a link to some of these studies? I would be interested to read them. Thanks in advance.

Well I look at it this way.  the diff was 25.3 and on Thursday or Friday the diff will be 15.9

that  is about 40% drop. not 50% and is likely to be a bit more accurate then any 1 day hashrate estimate since it is over 14 days not 1.

The real keys to all of this are:

How much gear is seized.
How much seized gear is destroyed.
How much seized gear comes back on line.

It is possible that the diff will drop to 15.9 from the current 19.9 and is possible it will drop again to 13-14 or so

Lets say July 1 we are at 15.9 and July 16 we are at 13.5

Lets say price is 34k

for a miner still in business they did not lose anything. since.

13.25/25.3 =52.37% diff

34/65 =  52.31% price

So China simply did me in the USA and anyone else mining in the USA a favor.

At peak diff in may I earned 52%% the btc I will earn on July 1

or worst case

we only drop to a diff of 15.9

that is 15.9/25.3 = 62.84. so I Earned 62.84% of the btc in May that I earn now,

If btc lasts for decades it be going up not down. So this is good for a USA or Russian or South America farm Even Europe.

Nop, I am referring to the actual mining gears running in china, nothing to do with the pools, although some of the studies conducted on this matter such as the one by Cambridge uses pool data, but not the origin of the pool, they rather request actual traffic based on IP-address by region from the largest pools and that study shows a lot more than 50% of the hashrate comes from gears located in China.

According to bitinfocharts, the hashrate topped out at 171 EHs on May 14, and bottomed out at 83 EHs on June 23, a drop of about 51.4%. Also according to bitinfocharts, the current hash rate is about 87 EHs. Obviously all these figures are estimates, and there is the potential that variance influenced all or some of these figures, but it is undeniable that a very significant portion of the network hashrate has been recently taken offline.

From the looks of it, there is a good chance we will see difficult decline by the maximum 25% the next change period, although it may not be quite that much. Some of the decline may be attributed to the price declining, but I think the overwhelming majority of the decline is due to the CCP seizing mining equipment throughout China.

Given how much production of ASICs is done in China, along with the above, I think there is a non-zero chance that a single entity (the Chinese government) that is hostile to Bitcoin has or will have mining capacity that is greater than 51% of the total hashrate. It is possible that the CCP has not seized all of the mining equipment that has been taken offline, and that some of the reduction is due to mining operators turning off their machines and attempting to move them out of the country so they can continue using them.

I believe you are referring to pools based in China, which is not the same as miners based in China. A miner with equipment in the US who is mining on a pool based in China will move to a different pool if the pool shuts down, while a miner based in China will stop mining if the Chinese government shuts down its operations. With that being said, I do think that more than 50% of the total Bitcoin mining capacity is based in China, or if not, an amount very close to 50%.

Not sure what's your source for this information but it's actually wrong, the fact is, China does have more than 50% of the total hashrate, in 2020 china had over 70% of the hashrate, it has probably declined since then and I have not looked into it for a while but I am pretty positive that even at this stage with all the "mining ban" going on China is still "very easily" controls more than 50% of the hashrate.

Well i know what  50% means and  I know the total  bitcoin hashrate trends, and i know know that you’d be out of your depth in a mud puddle

Your comment aged like milk

Maybe because you are searching in the wrong place, prices fell in China just a while ago, for that to reflect on other regions it will take some time, but it will most certainly happen, if you want to take advantage of the current prices in China you need to contact Chinese sellers, most of these websites are not based in China, and most Chinese sellers do their sales on telegram and Alibaba/Aliexpress.

There are a few Chinese sellers in this forum, you can find their sale posts in the hardware market place

best comment here, but where do u buy the hw? I'm here in asia, and I don't see any, everything is 'out of stock', hdd's, gpu's, .. power-supplys all is GONE

I agree with u timing is all, last summer I was buying new RTx-3070's for $300, now sold on amazon for $2k usd

Where are these good deals on bitmain miners? Certainly 'weak hands' should be folding in this current carnage, but where are the deals?

There is always someone who wants some gears, most of the time it's the noobs who can't do the math and think mining bitcoin will make them rich overnight, looking at the big picture, Bitcoin mining gears prices took a huge dive in China, today, S19 pro was sold for $7980, all the way down from 15k a few weeks ago, difficulty needs to go 12.5T or price to 60k for those who bought S19s at 15k to actually ROI within a year or so, and honestly I don't see either happening anytime soon.

With that being said, if someone is fully positioned in fiat and wants to start mining, the current prices are far less risky, it might be a good idea to start accumulating gears now, especially that it seems like the sideways boring market is going to last for a few months, it's the best time for mining as it easily beats the buy-n-hodl model.

I have been selling used apw3++ on ebay at $111.11 and they have sold well.

I got them in Dec 2018 new at

wait for it $35 a Psu.

I used them for 2.5 years.

So yeah gpus are in short supply.

We are having heat issues.

I am parting out

my s9s even though they make money.

123.45 a hash board tested to work

2 dead hash board at 111.11

So there are people wanting the gear

That or GPU rigs.
Also, as the issue is the lack of many parts in general. And it's just creeping up.
You just need a 400 watt unit for your PC for something, and it's sold out. So you buy the 500.
I need a 500 and would be perfectly happy with a generic unit but you got it so I get the EVGA.
Phil needs a 500W for a 3 card rig and wants the EVGA but it's sold out since I bought it, so he gets the 850.
etc.

In real life: I bought a 1000w PS for a clients massive drive array because the 850 that was overkill was sold out.
I could have gone to another store or ordered it but I was there and just got it.

Multiply that by 1000s of times and you have the situation we are in.

-Dave

Probably from folks trying to find PSU's to power S9xx, Avalon 8-9's etc?

yeah the ATX can be found at steep prices from resellers.

supply lines are crazy right now.

The 1200 / 1300 are available at many retail locations.
The local Microcenter here on Long Island has them.
The 1600 comes in and out of stock very quickly but I have seen them.

Other then that, yeah you are 100% correct.
There are some off brand ones at other retailers, but not something I would trust long term.

-Dave

Actually it goes beyond the bespoke custom psu's listed above.

ATX like corsair or seasonic or evga are not suppling the big psu's.

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all evga 1600 watts are out of stock
https://www.evga.com/products/ProductList.aspx?type=10&family=Power+Supplies&chipset=1600+Watts
as are all 1300 watts
https://www.evga.com/products/ProductList.aspx?type=10&family=Power+Supplies&chipset=1300+Watts
and 1200 watts
https://www.evga.com/products/product.aspx?pn=220-P2-1200-X1

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corsair 1600 watts out of stock
https://www.corsair.com/us/en/Categories/Products/Power-Supply-Units/axi-series-config/p/CP-9020087-NA
corsair 1500 watt out of stock
https://www.corsair.com/us/en/Categories/Products/Power-Supply-Units/axi-series-config/p/CP-9020057-NA
corsair 1200 watt out of stock
https://www.corsair.com/us/en/Categories/Products/Power-Supply-Units/hxi-series-2017-config/p/CP-9020140-NA

seasonic has  3x 1300 watt models
https://seasonic.com/catalog/product_compare/index/
Top Dollar only resellers
https://www.newegg.com/seasonic-prime-1300w-platinum-ssr-1300pd/p/N82E16817151214?
https://www.newegg.com/seasonic-prime-gold-ssr-1300gd-1300w/p/N82E16817151208?

100% agree with you.
If I had some merits I would give you some.

I have a contact which is specialized in refurbished PSUs. He is telling me exactly the same as you every day.

If I look his business, I go to the conclusion that repairing PSUs is a VERY profitable job actually.

I did not know that! That is so shady and wrong, but that keeps them in control of supply like ya said.  No wonder they started switching to the integrated ones and made their custom ones...

Well, as long as it is not a permanent ban, I’m hopeful.

Ya know, there is nothing special about miner PSU's, we just need information on the output voltage range, max current, and voltage adjustment scheme (analog 0-10v or digital signals) and then talk to Accropian, Delta, or one of the many other makers of custom PSU's to have replacements made. Would not be cheap but certainly doable...

okay once upon a time I ran a difficulty thread.

others run it now.

the reality is that :

bitmain is god
cannon
innosilicon
microbit are demi gods.

the four companies basically are acting like opec and controlling the supply of gear.

many say there is a chip shortage and that has slowed gear.

but the

s11
s15
s17
s17pro
s17+
s17e
s19
t15
t17
t17+
t17e

are all dependent on very specific psu’s
only supplied by bitmain
since they can’t get chips to build and sell gear ⚙️
they simply refuse to supply replacement parts and all of us that have any of the gear i just mentioned dead in the water due to lack of replacement psu.

cannon all oem bespoke psus took me 150 days to get a psu that was 50th lost for 5 months
bitmain 300th off line dead psus.
microbit 100 th off line dead psus

so 450th offline and 1100th online.

since this is the btc only section I will not mention what I did with gpus I purchased since I could not get asic psus

oh I did buy some replacement psus which have all been used.

so why do the companies not sell the psus. simple they all cloud mine and they fix their own gear.

this is their edge since they can not sell gear due to lack of chips.

this will not end until dec-feb maybe later.

I knew it the moment I saw one of your posts that this is going to be a day I will run into you on every damn topic.
So, if you say that Chinese miners have abandoned those regions since 2014, can you please let us know where Bitmains's main farm is, where did they move when they "reportedly by you" leave Ordos? I guess nowhere since they've left in 2014 to be back in 2017!

Second, if all those miners have left Inner Mongolia and Xinjiang why did this happen:

Or is it possible that you don't trust data from btc.com now?


Nobody is mining at Wikipedia prices Franky, nobody!!!!!!

PS.
I miss frodo!!!

Thanks, I used to think that Bitcoin mining factories were shrinking because of the government. So the Chinese bans we hear about now are just a repeat of the old laws they applied.
Hardware upgrade is the main reason for the decrease in the Hash rate. I believe Bitcoin's hash rate and value will continue to set new ATHs. A good time to buy Bitcoin could be now.

china announced a crackdown of mining farms in coal power plant regions
since 2014 mining farms have never set up farms in those locations.
they had already decided to set up in regions of renewable and enjoy special electric price contracts in those regions because of renewables.
thus. non-big-deal

most of the hashrate volatility is hardware upgrading and also america not mining because the price is sub $35k so its not profitable to mine IN AMERICA

hense the slushpool lack of US block solves when price was under $35k

Under the Chinese government's crackdown on Bitcoin mining farms, the Bitcoin mining hash rate is decreasing. In the future, the hash rate will recover and increase as miners will upgrade equipment and find a favorable place to continue mining.

Information about a 50% drop in hash rate is incorrect. You can check it out at the following link
https://www.blockchain.com/charts/hash-rate

You either don't know what 50% means or you don't know that the total bitcoin hashrate for the past 3 months has been about 130 EHS. You also seem to be incapable of looking at the hashrate stats which shows that hashrate for the most part has been pretty much the same with normal ups and downs for the past 9 months. Even if you bothered looking at the recent hashrate in June you can see that it has gone up from about 118 EHS to 140 EHS.
On top of all that China doesn't even have 50% of the hashrate in total all around their vast country. Even if they banned bitcoin mining country wide (which they won't) the hashrate won't drop nearly that much.

to explain more detail

imagine its costing you say out of 17exahash (not accurate split of hashrate. pencil numbers for demo)
4.25exa US at 12c/kw  ($1.2mill a day electric)
4.25exa EU at 16c/kw ($1.6mill a day electric)
8.5exa china at 4c/kw  ($800k a day electric)

which pool do you switch off first
(i done the math using s9 asics.)

now imagine you switched out s9 for s19pro
and you can have
4.25exa US ($723k electric)
4.25exa EU ($964k electric)
8.5exa china ($241k electric)

you no longer need to earn $3.6m(100btc(16 blocks)) to break even with world wide coverage using S9
instead you only need to $1.8m(56btc(9 blocks)) to break even world wide with s19pro

.. separate scenario. which can explain the lack of america block solvers in scenario pool above

infact. if you just switch off US and EU. you only need to earn 1 block to break even.
yep have 8.5exa in china and only need 1 block to break even.. easy.
or have say 13exa in china and switzerland and only need 2 blocks to break even

so why run american stratums knowing that its costing those miners more than they are earning

remember on average electric prices of america.. its about a break even threshold of about $35k a btc to mine and break even.
if price goes below $35k a btc then its not worth it to mine in america

not a china ban
but a upgrade of miners and keeping hashrate down to avoid a difficulty jump

they dont want the difficulty to be 50% higher than this time last year
they are trying to keep it below 20Trillion

..
and at time of writing this. i just checkede a couple pools.
and the funny part is.. the pool 'btc.com' yesterday (17exa) had a equal amount of china/eu/us stratums finding blocks. but today(13exa). EU/US have not submitted any blocks
meaning china was still mining but EU/US has not been mining

https://pool.btc.com/pool-stats

China is getting serous banning crypto mining farms