More than 40 mainstream miners hit "shutdown price" after bitcoin crash

Source: securities daily & NBSP;

& have spent By meng xing & NBSP;

For the bitcoin industry chain, the middle of march was the darkest period in recent years when people's "faith" faced the collapse. In the course of the global capital market turmoil, bitcoin's "safe haven asset" myth has also been lost, from nearly $8,000 on March 12 to the $4,000 line, followed by repeated fluctuations between $4,000 and $6,000. It wasn't until March 20 that the bitcoin price struggled back above $6,000 and was locked at $6,200 at press time.

The sudden sell-off has caused a disaster for the mining world, which is heavily dependent on currency prices. The securities daily reporter in this round of drops in the digital currency "ore ring" after the investigation found that more than 40 types of mining machine has touched the shutdown price, many small and medium-sized miners were "persuaded to retreat", mining machine selling tide has appeared.

While the price of bitcoin recovered somewhat over the weekend, miners can only hope for the start of good luck, not a break in bad luck.

Bitcoin experiences eight days of darkness & black; The 2.3 million ants S9 were forced to shut down

In mid-march, bitcoin experienced its lowest eight days in recent years.

On March 12, bitcoin fell off a cliff, dipping from a low of nearly $8,000 to below $4,200 during the day. One of the scariest sessions was a 16.78% drop in an hour. The following week, the price of bitcoin fluctuated between $4,000 and $6,000. Between March 12 and 19, bitcoin hit a low of $4,185 (March 12) and a high of $5,773 (March 16), according to CoinMarketCap.

These 8 days are almost the most difficult 8 days for miners. Online data from F2pool fish pool shows that as of March 19, 45 mainstream bitcoin miners had reached the shutdown price at 0.38 yuan per kilowatt-hour of electricity. If started, each mining machine will lose from 0.49 yuan to 28.72 yuan per day, including "king" mining machines such as ant S9. "Roughly 2.3 million ant S9 have been forced to shut down since March 10, according to F2pool's network-wide computing data." A personage inside course of study discloses to "negotiable securities daily" reporter.

After the securities daily reporter to the ore ring investigation found that the depressed currency price has triggered the mining machine selling tide. "Under the impact of the outbreak, it is more difficult to maintain, update and continue production of mining machines, and the" March 12 "slump has put many mines on the market. The selling wave of mining machines has occurred, with the average selling price of each mining machine dropping by 30-50% compared with before the Spring Festival." Ministry of commerce CECBC block chain special committee deputy director, digital economy business school dean wu tong told the securities daily reporter.

After this round of decline, the small and medium-sized miners in the mining circle began to "persuade back." Many small and medium-sized miners hold more ants S9 mining machine and other relatively old models with cost-effective, less investment, the cycle is long. Because the equipment is relatively backward, and the electricity cost is high, the anti-risk ability is weak. It is this segment of the population that is most vulnerable.

It is understood that the shutdown price of the mining machine for the model older, poor performance of the model, the owner is also more small and medium-sized miners. For the "All in" miners, whose personal assets are mostly cryptocurrency such as bitcoin, the collapse in the market is not only shutting down the miners, but also significantly reduced their wealth.

In fact, it is not just miners who have been hit hard by the slump in bitcoin. OKEx Research fellow at the analysis of "securities journal" reporter said, on the one hand, many mines are still in use ant to dig the integrated mining machine, now the currency prices tumbled, dig's currency income is far below depletion of the electricity, like ants integrated old models such as basic needs to be shut down, and the workshop costs such as rent, mill equipment depreciation still exist, so the loss of the mine owners quite large. "On the other hand, a lot of mine owners are expecting the price of bitcoin to rise due to the" half price "in the industry, so some mine owners will buy spot with leverage. After the bitcoin price crash, the leveraged miners will suffer even greater losses."

Bitcoin drops to $2,600 & NBSP; Will go into shock or die

In the shutdown list, the world's top three mining machine manufacturers frequently appear in the household products. According to the statistics of online data of F2pool fish pool, the reporter of securities daily found that among the 45 mainstream bitcoin mining machines, 27 were from the three major mining machine manufacturers, accounting for more than half of the total. Among them, bit continental has the most ant series mining machines, including 11 ant S9 models. There are 10 types of avalon series mining machines in jiannan; Yibang international has 6 types of wing bit series mining machines.

Because of the high volatility of cryptocurrency can not be said to be sustainable profits, so the regulators are particularly cautious about mining companies listed applications. Jia nan yunzhi started to plan to go public in 2016, but it failed to get listed on the gem board and the new third board, and then went public in Hong Kong in 2018. Finally, at the end of 2019, the company was listed in the us stock market with ganan technology as the main part, but it was not favored by investors. The share price broke on the first day of listing and fell to $3 after only a few months, which was far from the ipo price of $9. In addition, bit mainland, yi bang international also submitted to the Hong Kong stock exchange listing application, but never heard from.

The price of bitcoin fell, on the three major mining manufacturers also brought no small negative impact. "For the listed miner ganan technology, the bitcoin collapse will have a significant impact on its financial statements for the first quarter of 2020 and to some extent on the stock price. For the unlisted miner, the difficulty of listing is increased by a level, as the uncertainty of its future expected revenue is greatly increased." Wu tong said.

If bitcoin falls further, the impact on the mining world could be catastrophic. 'if the current price range is maintained, all individual miners using outdated machines and high electricity prices will have to shut down,' guosheng securities said in a research report. If the currency price falls another 25 to 30 percent, the whole network will have about a third of the backward machines in the period of high electricity prices can not make a profit, the computing power will also fall by about a third. At this point, only the advanced machines with low energy consumption can continue to dig the ore, and this part of the population will be greatly improved by the reduction of the net computing power.

"If the price continues to fall below the current shutdown level of the best performing ant S17 (about $2,600), then the bitcoin network will come to a standstill and technically bitcoin will go into shock or death." Researchers at OKEx Research stressed that bitcoin, despite its growing popularity, is still a niche, high-risk alternative investment. Its market capitalization isn't even as large as that of many tech companies, but its volatility is several times higher than normal stocks. So the best advice for the average investor is not to invest in bitcoin.

原文链接： http://company.stcn.com/2020/0323/15750501.shtml

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