How Bitcoin’s Price Slump Is Changing the Geography of Mining
Although China remains the leading region for bitcoin mining, the coronavirus downturn is changing the picture in other geographies.
A slowly rising bitcoin price might not help some miners run profitable operations now that the halving is in the past.
Bitcoin mining difficulty increased to 16.10 trillion (T) on Tuesday, close to the network’s all-time high of 16.55T recorded in March.
Like the employees forced to choose sides, Bitmain customers have been caught in the middle of the power struggle at the No.1 bitcoin miner manufacturer.
Bitcoin mining firm Argo Blockchain said an 11-fold increase in revenues shows pivoting away from mining-as-a-service was a good move for the company.
CoinDesk Research presents an in-depth look into one of the largest publicly listed mining companies, Hut 8.