BRUTAL: this is what’s happening now in a China based mining site .... 😨😨
Basically many miners are mining at loss at the current price point, now it’s more economic to turn it off and take it off from the rack to reduce cost on electricity and opex ..
Re- Footage, a big miner friend posted and said this is “what’s happening now”, together with current unit economic of mining from different models. Many smaller miners did turn off machines especially older models to break it down
Hashing difficulty is dynamically adjusted, it’s all about competition in the entire mining pool. If you are self-miner, or like bitmain, you don’t have to pay others to operate and custody plus premium of machine, you are much better off than many smaller miners out there
神鱼 posted it today (owner of @F2Pool_Official one of the top 5 mining pools) Saying the current miner are sold by “pound”, more of a parody. The fact is - say if you can’t mine with S9 with profit, someone with better unit economic will buy at a very low price to “recycle” 
the current “turn off price” (means the price point of BTC to turn off your miner) for S9 is about $3800 but will be adjusted dynamically if rash rates drop and competition below less fierce. At the end of the day who has better economic of scale who can survive
Another factor is electricity cost, current season in China is dry season so many hydro based mining power facing peak cost of the year, which makes it even worse. Also some top mining pool owners were saying they were operating at loss for last 3 months which is rare since 2014
READ THE WHOLE THREAD before saying “Fake News” 🤦🏻♀️🤦🏻♀️🤦🏻♀️ if you have more doubts DM my miner friends who I learned all these from - @gonbo founder of HaoBTC and Bixin pool, @christopherzhu0 former founder of BTC.com and @bitfish1 founder of F2Pool
