We all know that every four years, bitcoin undergo the process of halving and it is the third time in its history. This year 2020 halving make the supply of bitcoin mining block which is 12.5 BTC to 6.25 BTC. Every four years, bitcoin mining block always becomes half like in 2012 from 50 BTC to 25 BTC, in 2016, 25 BTC to 12.5 BTC, this year is the third halving period.
Miners are really having a hard time to continue mining due to some sort of insufficient devices and higher cost of expenses in mining. Some miners are willing to shutdown creating or gathering new bitcoin because of outdated devices. It is not that easy to replace those old mining devices and it will surely costs a huge amount of expenses to update or replace them.
According to mining pool Poolin’s vice president, Alejandro De La Torre, a number of unprofitable miners had already begun shutting down their equipment before the Bitcoin halving on Monday.
The most vulnerable here in halving are those miners who don't make enough money to sustain themselves in mining industry. That's the reason why some miners choose to invest in bitcoin rather than mining it. They already shutdown their devices before the halving because they know that if they still continue, they will probably fail due to lack of equipment.
What are your thoughts about these miners shifting to bitcoin investment? Can they find it much effective than mining bitcoin block?