Initially yes, but then the difficulty would adjust and some would be able to come back on. It's not quite that cut and dry now though as there is a robust futures/options market that miners can use to hedge, which would allow them to continue operating in the red for a period of time. Similar to the way oil producers and farmers can whether price shocks via futures markets. That being said, that $6k number is the lowest I think we will go from here. I'm thinking $7.5k looks like a very good support level should we get there...
Initially yes, but then the difficulty would adjust and some would be able to come back on. It's not quite that cut and dry now though as there is a robust futures/options market that miners can use to hedge, which would allow them to continue operating in the red for a period of time. Similar to the way oil producers and farmers can whether price shocks via futures markets. That being said, that $6k number is the lowest I think we will go from here. I'm thinking $7.5k looks like a very good support level should we get there...