Altcoin miners are leaving the network due to low profits

Mining fees for many of the top altcoins are dangerously low. Data show that the revenue generated by the operators of computer systems is ...


Mining fees for many of the top altcoins are dangerously low. Data show that the revenue generated by the operators of computer systems is only a few hundred dollars or less in the past 24 hours.


The above information was announced by Twitter user named WhiteRabbit (@WhiteRabbitBTC), indicating the fees (profits) generated by miners (Bitcoin SV (BSV), Litecoin (LTC), Bitcoin Cash ( BCH) and XRP have both been below $ 500 for the past 24 hours.

Especially low are the fees generated by Bitcoin Cash and Bitcoin SV miners, only at $ 103.91 and $ 79.94. That's why WhiteRabbit has asked the question: When will BCH/LTC/BSV miners turn off their equipment?

Miner fee state. When will BCH/LTC/BSV miners turn off their equipment?
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One person responded in the tweet above that there was evidence that a number of miners had abandoned mining on the Litecoin network. Both mining difficulty and hashrate have dropped significantly since the Litecoin Halving event took place earlier this summer. From more than 480 TH / s in early August, the network is now capable of producing only 252.5 TH / s.

WhiteRabbit adds that using Antminer L3 ++ to mine Litecoin requires more energy. According to data from GlobalPetrolPrices.com, that makes mining unprofitable everywhere except Myanmar.

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High Tech Brain: Altcoin miners are leaving the network due to low profits
Altcoin miners are leaving the network due to low profits
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High Tech Brain
https://www.hightechbrain.com/2019/10/altcoin-miners-are-leaving-network-due.html
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