Notes 01/03: Bitcoin Mining Consolidation
Between a debilitating crypto winter and rising energy costs, bitcoin miners were caught between a rock and a hard place for most of 2022. But Bitcoin’s hash rate – the amount of computing power devoted to mining the cryptocurrency – is near its peak rates. Back of the envelope math shows that the amount of computing power devoted to mining bitcoin has surged by roughly … Continue reading Notes 01/03: Bitcoin Mining Consolidation