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When is the off-season for mining machines (how to maintain mining machines that run continuously)

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When is the off-season for mining machines? With the increasing difficulty of Bi

When is the off-season for mining machines (how to maintain mining machines that run continuously)

When is the off-season for mining machines? With the increasing difficulty of Bitcoin mining, more and more people are looking for new options for cryptocurrency investment.

According to Coindesk statistics, as of 12:30 on May 31, 2018 (GMT+8), there were over 20,000 Antminer S19Pro and Shenma M20 series machines sold worldwide.

Among these models, Bitmain’s Antminer S17, Whatsminer T3, and Ebang E9 were sold for approximately 50 million yuan and over 4,000 BTC at a price of 1.5 million USD, with total hash rates of 62.5TH/s and 84.5MH/s. Jihan Wu’s Bitdeer acquired Bitmain for 400 million USD.

So, when is the off-season for mining machines?

Currently, the main concern is the arrival of the peak season for hydropower, which has already ended. Since the beginning of this year, many friends have been saying that they will buy a new machine, but the price has not risen, and some even thought it was just a replica of the old mining machine. Therefore, there are still some doubts for ordinary investors because of the volatile coin price, and there may be a large pullback. Therefore, everyone should also pay attention to the production of this batch of mining machines.

Regarding the main concern of miners which is the cost of electricity, if the power is not adjusted in time, it may result in losses. We know that the current market is relatively stable, but due to the high cost of electricity and relatively low income, many mine owners often transfer the profit to customers, especially some small miners. Generally, they will receive their shipments after the peak season or open a recycling store and wait to repurchase the mining machines after the peak season ends.

Of course, in addition to the impact on the market after the halving, there are many factors that can determine the operation mode of the mining farm. One reason is that fewer bitcoins are mined, and the more machines are produced, the more valuable they are. Therefore, most people’s losses are caused by supply and demand, such as the reduced efficiency of maintenance work and the shortened lifespan of the mining machines. (Note: Around April, mining companies need to update equipment configurations and constantly upgrade products).

How to maintain mining machines that run continuously

According to btcmanager, how to maintain mining machines that run continuously and how are the mined coins circulated and moved? How should miners keep them running normally?

Let’s talk about this today. What is the daily maintenance of mining machines? Whenever someone mines a new cryptocurrency on the Bitcoin network, there will be some problems or failures. If there are no solutions to these problems, it may have catastrophic consequences, which will affect the entire ecosystem, as this risk is much higher than ever (such as the 51% attack incident in August 2017). This will have a negative impact on the entire blockchain industry: because many people do not know how much Bitcoin they have or which ones they hold will be used for illegal purposes, most people think that all the Bitcoin they own will disappear or be lost forever, and once a similar situation occurs, a vicious cycle will occur. Why does this happen? First, the rising price of Bitcoin makes miners wealthy and profitable; second, because people believe that it will not skyrocket like it is now, but as more and more people buy and trade these tokens to make money, this situation is increasing, and we hope to reduce the value that miners lose due to mistakes. Finally, it is because miners are unwilling to spend money on other activities, especially those who close mining pools to avoid losses or even to improve efficiency.

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