Bitcoin Cash Hash War Costing Miners Millions in Lost Revenue

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According to BitMEX Research, going under the assumption that much of the hash rate on both sides of the Bitcoin Cash “hash war” has been leased since the fork, says that BCH miners have collectively lost as much as $6.1 million in gross revenue since last week’s blockchain split — but that one side, Bitcoin SV, can’t “keep this up forever.”

Something which has to be noted in any such discussion is that the profits gained from such mining — or loss thereof — would at present be on paper only, as neither BCH nor BSV has exactly the most liquid market at this time. This is to say that losses would cascade if the lessees actually attempted to realize them in Bitcoin or fiat because the market support of the prices used in the estimation would quickly vanish, replaced by lower rates, as the forces of supply and demand dictate.

The figure also assumes that everyone renting hash is actually finding blocks, or that most…