Low prices cause redistribution of hash rate.
▻https://hackernoon.com/low-prices-cause-redistribution-of-hash-rate-155959e1ee88?source=rss----
Low Prices Can Cause Redistribution of The Hash RateThe vast portion of mining power is sourced from China.The recent slump in coin prices has led to concerns over the feasibility of mining operations. However, mining operations are still profitable in some parts of the world; the lower Bitcoin price is making way for diversification in the mining industry by enabling the growth of farms in countries with electricity prices that are lower than the energy costs in China.While a few Chinese mining facilities have been able to lock direct deals with power providers, thereby giving them access to discounted energy supplies, the average kWh rate in China stands at $0.08. Bitcoin’s current difficulty makes it difficult for most major miners, including those in China, to break-even on operating (...)
#decentralization #hash-rate #cryptocurrency #blockchain #technology