The share of old mining equipment is decreasing in the network. Old mining equipment is no longer able to compete with new miners.

A product of the obsolescence that technological equipment acquires, it is possible that older Bitcoin mining ASICs, with more than a five-year operating, will fall to zero values before the bear market ends, pushed by the superior efficiency and power of newer models, which will end up burying the first specialized hardware in the business.

This is according to analysts at Hashrate Index, the analytics firm of Bitcoin mining pool Luxor Mining. According to the specialists, older miners, such as Bitmain’s Antminer S9 (13.5 TH/s), while “less severely” affected by the price drop (according to the analysts), are far less reliable than their more up-to-date versions, contributing to their demise from the market before the current bear market passes.

That demise is already happening, and we have seen it in CryptoNews. Each time these long-lived teams participate less and less in the network. This is because they can no longer compete with the new miners, many of whom are already entering operations.

Bitcoin mining analysts argue:

Before this bear market ends, we expect these older models to eventually lose more value than new and mid-generation equipment until obsolescence drives their value to zero.

What about the other miners?

In the case of newer miners, Hashrate Index claims that the share may be more elongated, as new and mid-generation equipment is less susceptible to sharp bitcoin price swings and remains profitable.

In the specific case of the latest-generation equipment, such as Bitmain’s S19 pro (110 TH/s) and up, the risk of bitcoin price shocks is minimal, as they are more “productive and efficient” machines, according to Hashrate Index.

Mid-generation ones, such as the Antminer S17 (56 TH/s), while most susceptible to price swings, “are still profitable enough in a bull market for miners to keep on hand.” In any case, they warn that the advance of new miners could accelerate the decline of these rigs.

While the demise of the old miners means the farewell of an army of equipment that long put up a fight, it is merely the entrance of generations that will continue to be at the forefront of Bitcoin network security.

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