Study: 98% of Bitcoin miners are about to become obsolete, and e-waste generated has surpassed Luxembourg

According to the latest research conducted by PwC blockchain expert Alex de Vries, 98% of existing cryptocurrency miners will become useless and will likely generate a large amount of electronic waste. With the continuous improvement of computing power and the increasing difficulty of mining, competition in the industry is becoming increasingly fierce. After a halving event about ten weeks later, old mining equipment will become obsolete. According to de Vries, the average life of a Bitcoin mining machine is one and a half years. And 98% of the old miners will go directly to the landfill because they have only one use case. BTC has generated more e-waste than Luxembourg as a whole (more than 10,000 tons per year), and this number is expected to increase after halving.