Since May of this year, a severe crackdown on bitcoin mining has been set off in China, with several provinces such as Inner Mongolia, Sichuan, and Xinjiang following the requirement to immediately stop cryptocurrency mining.

However, by now Chinese mining companies and pools have largely completed their overseas migration operations, with the landmark being that bitcoin's network-wide computing power has started to pick up quickly. On Tuesday, the Bitcoin network issued another mining difficulty adjustment, up 3.2%. For the fifth consecutive time since mid-July, bitcoin ( BTC ) mining difficulty has spiked, increasing by more than 31 percent.

Recently, cryptocurrency policy regulation has intensified again and has a tendency to expand, with related institutions and projects announcing shutdowns and restrictions. Those of people who have been speculating on coins and contracts these days must have felt the roller coaster of the market, right? What comes eventually comes, and you can't hide from it. Some of my friends asked me, "Is it still possible to mine bitcoins?

The answer is close at hand. Since May, when China cracked down on bitcoin mining, online miners have benefited from a sharp drop in computing power. Data shows that bitcoin miners who insisted on mining online after "6.19" saw a 57% increase in revenue.

With the tightening of domestic regulations, most miners have moved to other countries, but there are still some miners who have gone underground. According to sources, some of the shutdown miners moved to the southwest to restart their machines, and with this national mining exclusion, it is expected that there may be a small decline in the bitcoin network in the short term, and miners who mine overseas will benefit.

In fact, due to the previous policy turmoil, the entire bitcoin market has become more resilient to policy fluctuations, and the impact of this policy is not as great as one might think, with the market sentiment remaining relatively stable. The bottom line is that if one chooses to participate in mining by mining, even if there is a momentary market turmoil, the impact on miners will be minimal.

No matter how you look at it, this policy strengthening seems to only create difficulty for some small miners to participate in mining, making some miners to leave the field, while for miners with certain industry resources, at this time, it is a good time to lay out at low prices.

Articolo più recente