According to the recent report BitMEX, from the beginning of November together with the fall in the price of the home cryptocurrency fell and her Hasrat — 31% (which is approximately equal to 1.3 million disabled Antminer S9). The miners started to disconnect, although for certain categories of miners, the situation is not so bad.

Regarding the price movement of bitcoin report podmetaetsya the largest two day decline: 16 November 7.4% December 3 — 15.1%. This decline, as the first, the market has not seen since January 2013 and a decline in like December, last recorded in October 2011. The chart below shows Hasrat network of bitcoin along with most cryptocurrencies.

BitMEX: Хэшрейт сети биткоина с начала ноября упал на 31%

“In November, the income of the entire mining industry decreased on average $13 million a day over the last days of December— $6 million Decline in revenues from mining are declining faster than the rate of the bitcoin in percentage due to the fact that increasing the difficulty of mining. It was expected that a six-day period from 27 November to 6 December will be found the 144 unit, but in the end it was found much less due to the fact that a large number of miners stopped mine to the increasing complexity. Until the recent market collapse the average return of mining for the entire industry was about 50%. After a crash it fell to 30% for Bitcoin and 15% for Ethereum”, — the report says.

Below is the chart showing the drop in profitability of mining BTC, BCH (ABC) and ETH on the first of November.

BitMEX: Хэшрейт сети биткоина с начала ноября упал на 31%

The report further podmetaetsya that Ethereum hash rate fell by only 20%, while the price more than half (54%), so the yield from mining ETH fell significantly. According to assumptions of researchers, this is due to the fact that mining Ethereum more tied to the enthusiasts, rather than people willing to profit.

It should be noted that to calculate the yield, the researchers took only the cost of electricity, for which they took 5 cents per kilowatt/hour. They have written about it, further adding that if you take into consideration other costs (equipment purchase, maintenance costs, staff salaries, etc), it appears that would be the vast number of miners. However, electricity costs vary from miner to miner, but the blockchain of bitcoin still continues to work. It was also noted that taking into account the various events and news, like the hash of the Bitcoin wars Cash, not because the market is bearish, which means prices will decline.

In conclusion, the report said that though the situation continues to worsen, with many miners leaving the game, farms with access to cheap electricity still has potential. Also remain in positive territory, those who bought the equipment Bitmain and other manufacturers at low prices.