2018 was not a good year for mining. The price of crypto coins has collapsed, significantly reducing the profits of many users, miners and companies in the sector. Looks like the situation will not improve significantly in 2019. At least not according to the new forecasts of the ASIC mining platform.
Companies like TSMC have lowered their revenue forecast for this year. So it doesn’t look as if the market will have the recovery expected by many.
These are not good times for companies in this mining segment. For example, Bitmain, one of the best-known companies in the industry, has laid off 50% of its employees in these weeks. Some of the people had only been working for a few days. There is already speculation in China that the company’s CEO could resign soon. So the situation is not the best in the company or in the industry.
The price of crypto coins collapsed in 2018, a decline from which they have not recovered. In fact, the last few months of the year were particularly bad and reached new lows. So the situation is not the best for companies.
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