[paxys]

Mining will never really be unprofitable, because the size of the pool will just regulate itself as needed. As the price falls, people running more efficient mining setups (read: cheaper electricity) will get a larger % of profits as others drop out.

[Gigachad]

Meaning the drop in value is a massive benefit to the planet as miners shut their setups down.

[scotty79]

It's a great time to buy mining hardware and invest into renewables so you can mine like crazy during next ride up in 2024-2025.

[Gigachad]

Mining hardware becomes obsolete after 6 months because more efficient chips come in which every other miner has. So they all get e wasted constantly.

It’s a negative roi to mine on old hardware.

[scotty79]

At some point this has to stop as bitcoin ASIC manufacturing reaches top tier of available technology. Not sure if this moment already came so it's risky, but at some point energy and energy generation hardware will dominate the cost of mining bitcoin.

[wmf]

This is less true now due to maturing of ASIC designs and the slowing of Moore's Law. N5-based miners could last for years.

[poulpy123]

Ah yes the magic invisible hand of the market

[wmf]

Miners have shut off; it's not hypothetical. Mining never seems to reach perfect equilibrium because of various time lags but the market does work.