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The number of mainstream financial institutions willing to do business in crypto is shrinking.
www.barrons.com
With Crypto dying fast and becoming a litigation nightmare, what will happen to the data miners? Since they are specialized will the data miner's equipment become scrap? Any thoughts on the impact this will have on the semi sector if any?
ETH miner rigs are scrap as the switch to stake is complete. Those were mostly GPU, and there is no market for them. Mining rigs are cheap and unreliable, making them hard to use for other purposes. Plus, the farms did not need the connectivity, internal network, or security and management systems a cloud would need. Useless now.
BTC mining wobbled a bit in recent weeks but is currently running at an all-time high. These will be mostly ASIC machines with no other use, but not going anywhere yet.
The most trusted source for data on the bitcoin blockchain.
www.blockchain.com
They probably are not buying many new machines either, but when they have confidence the price floor was found they may continue adding fresh machines and maybe shutting off a few of the most power-hungry. The leading edge is somewhere around 20 pJ/hash on the best ASICs, but some older machines may also run on dirt-cheap electricity, so only the operators know where their least profitable machines are.
