The computing power dedicated to mining bitcoin has hit yet another new high, suggesting that more than 600,000 powerful new machines may have come online in the last three months. #Cryptocurrency #Blockchain #Crypto #Bitcoin https://t.co/9RjJhyZ34Y
This is absolutely an arms race against time with the Bitcoin halvening coming up. Miners are trying to get as much $BTC as they can now. Dealing with 1/2 the block rewards is going to be rough. And if price moons before hand? You still win. https://t.co/1WWQuMvaZU
Where did they go online. Further centralizing the mining in China? The article says there's growing interest in Siberia, but doesn't say whether any of these ASICS went online there, or who they were operated by. A lot of the mining in other countries is still Chinese miners. It's a threat to Bitcoin due to the CCP's iron fisted control over businesses within the country, and also because the majority of Bitcoin mining should not fall under any one jurisdiction. I'm glad Blockstream is launching two facilities in Canada and the US, but we need more.