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Tuesday, October 19, 2021

Public Bitcoin Miners Are Ramping Up

The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

China’s mining exodus this year has become the biggest opportunity for bitcoin miners to capitalize around the world. Not only have we seen the network hash rate continue its aggressive recovery over the last few months, but we’ve seen mega growth in public bitcoin miner production with major mining opportunities unfolding, especially in the United States. One country’s ban is another country’s hash.

From Luxor’s Hashrate Index Quarter 3 Report, “Collectively in Q3, these miners mined 79% more bitcoin than they did in Q2 and 155% more than they mined in Q1.”

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