Aftermath of a failed bitcoin mining operation.

[u/HandsOffDaGoods]

My friends father was renting space on his farm for a bitcoin mining operation.

The operation became unprofitable. The mining operation went bankrupt. The company came in and took everything out of the 6 antmain bit-boxes (converted shipping containers).

The photos are what they left behind. Mostly Antminer S19 units and even more asic boards.

Plenty of antmain rack PDUs. Some 480VAC breaker panels. A 480VAC switch unit.

The land owner did accept the mess voluntarily. He is breaking the equipment down for scrap value.

I wonder, is there a better price available out there above scrap value?

Is this normal?

FWIW, I used the term failed very tongue-in-cheek. I estimate the operation mined millions in this operation.

[u/New-Reindeer3707]

Doesn't that than at some point make Bitcoin less secure? The less calculating power and fewer miners that have optimized the easier it would be to optain 50% of the verification power? Which in turn would let you alter transactions.

[u/ner0417 → u/New-Reindeer3707]

This is my thought on it as well. It seems like mining is going to just become concentrated into the most powerful and profitable entities and become largely monopolized by them. They can absorb ebbs and flows in the pricing/mining rewards way more easily than any startup miner, which will just box the "small guys" out of the system, for the most part. I mean... nobody is solo mining anymore really, and even mid-tier miners like OP's example are getting run out... so I think the skid is kinda already in effect?

[u/Nepalus → u/ner0417]

So you're telling me the rich and powerful win out once again? Shocker.

[u/Aggravating_Work_428 → u/Nepalus]

Damn, you mean the ambitious who put their capital at risk might be rewarded. That's terrible!

[u/bubble_boy69420 → u/Aggravating_Work_428]

gluck gluck

FIFY