Bitcoin computing power has returned to its peak, and miners need cheaper power resources

According to the data from BTC.com, recently the computing power peak is 183 EH/s, and has returned to the peak this May. Due to China’s policy against Bitcoin mining, the computing power reduced by 50% after this May. Currently the computing power mainly moved to the United States, American mining pool Foundry, now has the second overall mining power level, second only to the Ant mining pool.

However, for miners, the rapid recovery of computing power is not always a good thing, because of the sharp rebound, miners’ earnings dropped again. Even though the profit is still looking good, the profit margin is reducing. There is a significant cost pressure for miners who have insufficient resources.

For longtime miners, the main factors influencing the mining is not the price of the machine, but the cost of electricity and infrastructure. If the mining competition keeps getting severe, miners without access to affordable resources will lose their competitiveness. Currently LLGO has mines over the US, Canada, etc. We are able to provide affordable resources support for miners.

What calls for special attention is that, due to the increasingly fierce competition in the mining industry, the living space for small miners has become even smaller, although the cloud computing power is still profitable, the profitability is far less than the big miners. For all miners, they can either have their own mines,  control the production data, or they can only gain meager profits, until forced out due to the low profit.

The trend for Bitcoin mining industrialization is very evident. Currently LLGO has also launched a Joint Mine project, miners can participate in constructing mines by claiming equity, to build their own mines. If you want to be mine owners, you are welcome to consult our customer service.