Bitcoin Cash, which left Bitcoin in 2017, halved its rewards as a block, causing many cryptocurrency miners to see their gross margins drop to near zero. The fifth largest cryptocurrency network in the world in terms of market capitalization has recently reached a block height of 630,000, leading to the so-called “halving” event that has reduced the network's mining reward from 12.5 Bitcoin Cash per block at only 6.25. As a result of the halving, miners competing for block rewards on the network will see their current mining revenue halved, resulting in little to no returns despite their mining investments. Expensive mining equipment. The mining difficulty and hash rate in Bitcoin Cash recently followed a downward trend, as those for cryptocurrency mining were set to halve. At the same time, the price of the cryptocurrency also went from €492 a piece in mid-February to €165 in mid-March. At the time of writing, Bitcoin Cash was up slightly at €258, according to the CoinDesk Price Index.
More profitable
Using data from F2Pool, CoinDesk was able to determine that a wide range of cryptocurrency mining rigs from 2018 and early 2019 are now generating negative daily profits at the current Bitcoin Cash price and latest network hash rate, including some of the most recent models. that came in late last year and early 2020 are now seeing gross margins drop to around 10%. More powerful models like MicroBT's WhatsMiner M30S or Bitmain's AntMiner S19 or S17 Pro can generate a margin of more than 30%, but unfortunately, the two manufacturers were unable to deliver their new models on the market in large numbers. As miners are no longer able to earn a record profit from the Bitcoin Cash network, the difficulty of mining will drop further, meaning mining income will increase for those who can still afford to stay in the game. The Bitcoin Cash halving event is just a taste of things to come, as the Bitcoin network is expected to experience a similar event in about 35 days. Via CoinDesk