Tue Jul 05
Tue Jul 05
Is June a cold winter for cryptocurrencies? From a macro-environmental point of view, yes.
But compared to the bull market, this is almost a good opportunity for low-cost miners, because the bear market is the best time to become a crypto miner.
The benefit of mining in a bear market is that as prices fall, so does the number of miners who can continue to be profitable, which will force inefficient miners to give up and reduce the difficulty of mining new blocks.
As the difficulty decreases, those who are able to continue mining are more likely to earn more coins. Bear markets act to flush out the weak, and the strong do survive, so bear markets are not always a bad thing.
For cryptocurrency miners, the process of achieving profitability involves validating transactions on the blockchain network and then adding them to the distributed ledger. Once the block is completed, miners receive cryptocurrency as a reward. Electricity and mining rigs are some of the costs they need to face. At this time, the test for miners is to find mining rigs with high efficiency and low power consumption.
Although the macro environment is not good, due to low operating costs and stable energy prices, JASMINER has good insulation and is well-positioned to deal with the current downturn. Being unaffected in a bear market can continue to help miners through the current downturn.
JASMINER has released cryptocurrency mining rigs with lower power consumption on the market. The X4 series products include High-throughput Mini server, High-throughput 1U/1U-C server, High throughput Quiet server, etc., all of which can be used to mine Ethereum Classic. What they all have in common is that the price of the shutdown currency is extremely low, which can help miners survive the bear market and usher in the bull market.
Like the recently released JASMINER X4-Q, it offers up to 1040MH/s hash rate and power consumption as low as 480W, making it a good choice in areas where electricity is expensive. Ideally, the X4-Q helps miners reduce their electricity burden with less power consumption, which translates into higher profits.
Therefore, the suggestion for miners in the bear market is to invest in mining rigs with high hash rate and low power consumption such as X4-Q. When the bull market starts, sell the mined coins, so that there will be a lot of income. In addition, you also can build a longer duration strategy to deal with market volatility, sticking to a long-term approach to maintain a good portfolio.