Date: 7 months ago   Category: Economy

After the collapse of cryptocurrencies the Chinese miners sell the old equipment on weight


Chinese mass sales of the equipment for production of cryptocurrencies after the collapse of quotations of Bitcoin, Ethereum and other coins arranged mining businessmen, reports Asian edition 8BTC. In its publication considerable falling of profitability of mining because of decline in rates of virtual money is noted.

It forces individuals and small businessmen to sell mining equipment practically on kilograms. First of all outdated, such as Antminer S7, Antminer T9 and Avalon A741. These devices are called unprofitable as they demand high operating expenses, very energy-intensive. While in China behind it entered strict account. the Bureau of the industry and trade of one of the Chinese provinces of (Yingjiangs) released

last week a warning to the mining companies, having demanded to be registered in bureau of power industry. If it is not made, the authorities will simply cut down the knife switch - will stop supply of electricity in mining centers. nobody wants to work as

In such conditions on the tired equipment which spends huge volumes of the electric power. 8BTC reports, the prices of some types of the equipment for mining failed to 5% of initial cost. For example, the devices bought a year ago for $2.9 thousand give for only $144 now.

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