As many as 800,000 Bitcoin miners shut down in the past two weeks

F2Pool, the world's third largest mining pool, estimates that since mid-November, as bitcoin prices plummeted and the computing power of the entire network declined, about 600,000 to 800,000 bitcoin miners have shut down their mining operations. Mao Shixing, the founder of F2Pool, told Coin Desk that the above estimate takes into account the decline in the computing power of the entire network and the average computing power of old mining machines during a difficult period of profitability. Some miners may have stopped mining because they are using old models. F2Pool's miner revenue index shows that the average computing power of these miners is about 10TH/s, and it is expected that mining is now a loss.