At the moment, mining the first cryptocurrency remains profitable even on outdated devices, provided access to cheap electricity

On the morning of may 20, after another recalculation, the complexity of bitcoin mining decreased by 6%. This is the first decrease in the indicator after halving, which took place on the evening of may 11. Glassnode analysts explained that this was due to a drop in hashrate after reducing the reward of miners for the extracted block, reports CoinDesk.

"As halving approaches, miners in China have been ramping up resources, even at the expense of older-generation devices, to make the most of the final days before the reward cuts," explained Greenidge Generation Director Kevin Jean.

At the moment, outdated miners can not be profitable with the price of electricity above $0.05 kWh. In the South-Western provinces of China, due to the onset of the rainy season, tariffs for digital money mining equipment have been reduced to $0.03 kWh.

It is expected that in two weeks the network complexity will decrease by another 6%. One of the largest falls in the indicator occurred in March 2020, against the background of a fall in the cryptocurrency market. Then the complexity decreased by 16%.