Cryptocurrencies
Many Bitcoin Miners Are at Risk of Turning Unprofitable
- Large miners Bitmain, Bitfury are seen increasing dominance
- Dorm-room miners are becoming a relic of the Bitcoin bubble
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Bitcoin is at an inflection point.
Even with the price back above $8,000, many of the so-called miners that perform the complex calculations to generate the digital currency are at risk of turning unprofitable. If prices drop below that threshold again for an extended period, there will likely be a swifter consolidation to industrial-scale mining. That could knock out the last guy-in-a-dorm-room operations and leave holders of the currency vulnerable to the dictates of the big miners.