Unprofitable miners are already leaving the Bitcoin network ahead of Halving
Halving is just a few hours away - and many miners are already shutting down their soon-to-be unprofitable platforms, says Poolin vice president Alejandro De La Torre.
With halving scheduled to take place in less than four hours, unprofitable miners have already started shutting down equipment, Alejandro De La Torre, vice president of the large poolin mining pool, said in an interview with Cointelegraph on May 11. According to his estimates, these miners account for "15-30%" of the entire bitcoin hash rate.
The miners who are fleeing now are likely to never go back to the grid unless they upgrade their equipment or find extremely cheap sources of electricity, as the mining reward will be halved.