In today’s Daily Dive we will be evaluating the state of the mining industry, looking at both the performance of publicly-traded mining firms as well as analyzing the on-chain mining data. Bitcoin Mining Update After hitting a new all-time high on December 9, hash rate has fallen nearly 8% since to 167.39 EH/s. The significant rise in hash rate sped up block production which sparked a positive difficulty adjustment of 8.3% just two days later. The rise in mining difficulty put downward pressure on miner profitability, incentivizing miners to turn off less profitable machines and lowering overall hash rate in response.
Nice write up but I dont think its fair to compare the price performance of those miners vs bitcoin since their inception..back then they were just a name and a website; compared to now where you have companies like MARA routinely occupying sizeable chunks of the global hash power. maybe the very long term future is uncertain for these companies, but for at least the next few years they seem primed to literally print money....i invest in bitcoin also but I do dig a couple of these miners
Nice write up but I dont think its fair to compare the price performance of those miners vs bitcoin since their inception..back then they were just a name and a website; compared to now where you have companies like MARA routinely occupying sizeable chunks of the global hash power. maybe the very long term future is uncertain for these companies, but for at least the next few years they seem primed to literally print money....i invest in bitcoin also but I do dig a couple of these miners
Great article!! Thanks!!
mining is going to become very, very competitive. still opportunities but this is a race to the bottom for services on top.