Bitcoin mining industry experiences worst year in half decade

Bitcoin miners held a stunning competition in 2019, lifting both the hashrate and difficulty to all-time highs. But it turns out for significant stretches, mining pools absorbed serious losses.

Bitcoin Miners Undeterred by Falling Prices

Most of the big miners this year produced coins at a loss due to unfavorable market prices. But this did not lead to a capitulation, as previously expected. Instead, miners redoubled their efforts to get some of the last 12.5 BTC rewards before the halving next year.

A look back at 2019 shows two periods where miners continued competing for rewards despite prices falling below breakeven.

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