RATE Group | Bitcoin Miners Selling Old ASICs for Scrap as BTC Decline Worsens
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Bitcoin Miners Selling Old ASICs for Scrap as BTC Decline Worsens

24 Nov Bitcoin Miners Selling Old ASICs for Scrap as BTC Decline Worsens

Posted at 01:01h in Bitcoin News by

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garbage truck bitcoin mining



Over the past several days, there has been much debate within cryptocurrency circles about a series of videos and images allegedly showing Chinese crypto mining firms dumping bitcoin miners on the street.

To some observers, the video and images demonstrated that crypto miners — even those located in China, where low energy rates provide greater profit margins — were beginning to feel the pinch from bitcoin’s prolonged bear market. If miners were dumping ASICs on the street, it not only meant that the bitcoin price had reached their “shutdown-mark,” the point at which miners can no longer turn a profit running the machines, but also that they didn’t think these devices would ever be profitable again.

Others alleged that the pictures had actually been taken in July following a…

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