The Bitcoin miner market saw significant inflation during Q2 2019 — Cryptocurrency Mining Industry Report Q2 Shows
Tokeninsight has just released its Cryptocurrency Mining Industry Quarterly Report to give you every important detail you need to know in the Mining Industry for the second quarter of 2019. The report provides insights into mining pools, Hashrate ratings, industry news, and many other Mining related topics.
Key Points:
✅ Following the drastic increase in Bitcoin’s price, the Bitcoin miner market saw significant inflation during Q2 2019. Most of miners from various manufactures are in serious shortages and newly submitted orders will be delivered during Q3 2019 or even possibly later. Investment and trading in Bitcoin miners grew significantly faster this past quarter than compared to previous years.
✅As future orders of Bitcoin miners are being delivered and operated in the second half of 2019, the overall difficulty of the Bitcoin network is expected to increase by roughly 48% — 72%, reaching 14.74T and 17.14T respectively. The increase in mining difficulty will undermine the revenue for part of the current mining operators with the current mining machines in operation.
✅For Bitcoin miners with power efficiency lower than 50 Th/s, Innosilicon’s T3 43T was still the miner with the shortest cost recovery period in a span of 150 days. This result is consistent with our result findings from last season. However, it is important to keep in mind that the magnitude of its cost recovery period was lowered by almost 100 days due to the influence of Bitcoin’s price.
✅Considering the current state of Bitcoin’s network and growth difficulties during last two quarters (3.29% and 4.73% respectively), the average difficulty growth rate is expected to be greater than 5% for Q3–2019. Under this circumstance, most of the Bitcoin miners will not be able to cover the current cost. Only miners with high hashrates (such as the whatsminer M20S, with a hashrate of 68 Th/s) will be able to cover the cost.
✅Cloud mining as a product is the ability to access the mining industry for individual investors. Similar to last season, Bitdeer and VeryHash are still the two major players who lead the Bitcoin cloud mining industry. In Q2 2019, Both Bitdeer and VeryHash’s major products were sold out, with only Antminer S17, S1
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