BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

Oh wow halving really killed miners rev recently?

ex-/airswap. part time node runner, full time shitcaster, all time higher

Miners gonna bleed till market corrects. Some miners will leave till hash rate drops sufficiently

It's a matter of profitability at the end no? Miners will shift to places with lower opex (ie cheaper electricity) which probably result in some level of miner centralization? 🤔

Isn't it interesting that mining revenue is 50%? Isn't it interesting that hash rate typically corrects to reach mining revenue homeostasis? What will the other 50% mining power do? What _can_ they do?