After the May halving, miners turned off about a third of the “old generation” installations, and energy consumptiondecreased by 24%.
When May 11th Bitcoin Block Mining Rewarddecreased from 12.5 BTC to 6.25 BTC, many miners were forced to disable obsolete ASICs. However, miners still spend enormous computing resources.
According to the Digiconomist, electricity,used for mining bitcoin is equal to the power consumption of Israel. Its carbon footprint remains the same as that of Syria, and one Bitcoin transaction requires as much energy as the average American household consumes over 18 days.
According to BTC.com, after halving the bitcoin mining difficulty decreased by about 6%. Over the next 11 days, another decrease in complexity of 6% is expected, which means that some of the smaller miners that were supplanted due to a reduction in block rewards may still return.
Subscribe to ForkNews on Telegram
Read this:
Bitcoin Hashrate Falls After Mining Profitability Decreases
Bitcoin cache hashrate after halving fell by 44%, and block closing time increased by 50%
Bitcoin growth model: $ 170,000 after halving
Bitcoin price will increase 10 times, within 1-2 years after halving
Why will the Bitcoin rate rise after halving?
Miner electricity consumption drops 24% after bitcoin halving