ViaBTC｜How Can Miners Secure High Profits amid the Bitcoin Difficulty Decline
Recently, the Bitcoin network has witnessed an unprecedented difficulty decline by a staggering 27.94%, with the total hashrates slumping around 50% from 180EH/s at peak to nearly 80EH/s.
The decline is partly caused by the recent clampdown on mining across China. A large number of Chinese miners, who contribute nearly 50% of the total hashrates, have to stop mining and relocate their mining rigs. As a result, the remaining miners have more hashrates. A telling example is ViaBTC Pool whose hashrates are distributed globally. Its percentage of hashrates has risen to 15% or so from 10% two months ago.
With the Bitcoin output unchanged yet the hashrates dropping, the competition among miners has been relieved, and the mining reward has increased as a result. No wonder many miners have reinvested their mining rewards in purchasing new mining machines to increase hashrates and earn more.
Some others without much idle money tend to keep holding coins for the bull market in the future as they believe the Bitcoin price is at a low level for the moment. At the same time, with the intention of purchasing mining machines to contribute more hashrates, they turn to ViaBTC Pool for its financial service — staking.
Miners without a deep pocket can stake their Bitcoin, which they don’t want to sell for the time being, at ViaBTC for the equivalent USDT to purchase mining machines and rake in more mining rewards. When the Bitcoin price rises to the expected level, they can sell the coins for repayment, or repay with USDT when they obtain more mining rewards to redeem the coins previously staked.
The staking service is also a good choice for those who have to sell Bitcoin to cover the cost of relocating mining machines. In this way, they can get the capital to meet the need of emergency, without selling the coins expected to rise. Moreover, miners can borrow and return coins anytime to solve urgent needs, and stake the Bitcoin they have to get more funds for arbitrage.
What if miners run short of Bitcoin when the price is high? Try ViaBTC’s another financial service — pledging. It advances miners the mining reward so they can trade right away. After receiving an application, ViaBTC will evaluate the maximum amount a miner can hedge based on his hashrates. The miner needs to deposit one sixth of the hedging amount as the margin before the mining pool transfers the Bitcoin he has applied to his hedging account. Now the miner can delegate ViaBTC to sell the Bitcoin for USDT to get reward in advance, which will be frozen temporarily. Then he may either choose automatic repayment — in which case, the Bitcoin he mines every day will be automatically repaid to ViaBTC, or repay the coins by himself — where for every coin repaid, the corresponding USDT will be unfrozen from the hedging account. With this service, miners can lock in profits on Bitcoin in case of a potential price collapse that may incur huge losses.
ViaBTC’s staking and hedging services allow miners to make the best of idle assets, such as BTC, BCH, BSV, ETH, and LTC, to earn more returns. Amid the recent sluggish market yet with considerable mining rewards, hoarding coins has become the first choice for many miners. Why not capitalize on your idle coins with ViaBTC’s staking and hedging services to make a big profit?
