A recent report has shown that the next halving for Bitcoin will impact cryptocurrency miners, especially those with less efficient equipment and lower network performance.
The hashprice of bitcoin is $76 per petahash per second (PH/s). However, the metric is forecast to drop roughly 50% following the halving.
A sub-$40 PH/s hashprice could push many miners into unprofitable territory. Operators using the Antminer S19XP mining rig may face profitability challenges at that level despite its high performance, especially those paying average electricity rates.
Unless they leverage the latest, most efficient models or extremely low energy costs, revenue generated could dip below operating costs.
Some analysts speculate the hashprice drop could spark a moderate mining capitulation phase, where marginal operators shut down rigs. This could temporarily lower network difficulty and raise hashprice again.
However, if Bitcoin’s price stagnates after the halving, the industry may endure a difficult period of summer 2020 when profitability is strained by overcapacity.
