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At the current price of BTC, the mining farms are already starting to struggle. Around $97,000, approximately 25% to 30% of the computing power is gradually shutting down, translating to about 263 to 315 EH/s of machines going offline.



This year, after the halving, a batch of inefficient mining machines was eliminated, leaving only a little over 20% remaining. As a result, this round of correction has forced mining companies to optimize their production capacity—such as Riot Platforms directly cutting 10% of its operating computing power.

What's even harsher is that if the coin price continues to slide towards $90,000, the shutdown wave could reach as high as 35% or even 45%. At such times, those mining giants holding a large amount of Computing Power should probably step in to stabilize the market, right?
BTC-0.21%
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