Bitcoin mining is still popular, despite the turmoil of the crypto market

20.05.2022
Despite the decline in quotes for many currencies, bitcoin mining is only increasing. Farms continue to actively move forward despite the bans. For example, China has completely banned mining, while other countries will allow mining only if green energy is used.

Many innovators, for example, Elon Musk, are trying to make sure that mining does not harm the environment. But for now, miners are simply moving to countries with no bans and low electricity costs.
Work continues

The fall in the price of bitcoin only made it easier to financially direct mining farms. In order not to lose profitability, they must conduct mining in increased volumes. This process affected not only digital gold, but also Ethereum.

Over the past few months, ether has been leading the fight with bitcoin regarding profitability for miners. Their rate of return is four times higher. But despite this, problems can still arise, but this does not stop anyone, despite the results.
What problems will begin because of the collapse

The price of BTC has historically fallen below what it cost to create the asset. But then the rate always rose and even reached record levels. If the downward trend continues at the same pace, then many participants will simply stop trading. Miners will most likely start selling coins if assets start to decline.

A temporary stop for small companies is a classic of the genre. But if large sites close, then prices can drop to zero, and emissions will increase.