Since January 2023, two prominent mining pools have collectively controlled over 50% of Bitcoin's hash rate, posing an 'ever-greater centralization risk.'
Since January 2023, two prominent mining pools have collectively controlled over 50% of Bitcoin’s hash rate, posing an “ever-greater centralization risk.”
Bitcoin mining difficulty is also showing no signs of stopping as it set a new all-time high of 57.11 T. While hash price conditions remain challenging, the new Coin Metrics report suggests that “savvy” Bitcoin miners continue to add operational hash rate. In fact, the mining landscape in 2024 is set to get more complicated.As the next halving event approaches within a year, miners in the United States are ramping up their production efforts.
The stakes for the mining industry will be elevated even further in the upcoming year with the anticipated launch of the state-of-the-art Antimer S21. Its manufacturer, Bitmain, has recently announced that the S21 is slated to commence shipping in the first and second quarters of 2024. The crypto intelligence firms reported that the concentration of hash rate in the hands of a few massive mining pools remains a major concern for the community.
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