Report: The share of public miners in the Heshrete Bitcoin reached 25%
During the year, the share of public mining companies in the Heshrete Bitcoin increased by 295% – to 58 EH/S. In the aggregate indicator, this is 25%, follows the report by the Hashrate Index of Jaran Mellerud.
In October 2021, private miners accounted The Ethereum team for 90% of the computing power of the network.
During last year’s bull market, many industry companies became public, gaining access to capital to expand operations, the expert recalled. Firms invested in mining installations with supplies during the current and early 2023.
This ensured the growth of their share in the hash. Private companies, without such financial possibility, increased it by only 58%over the year, Mellerud noted.
A sharp increase in the computing capacities of private miners began in January 2022 after the largest Core Scientific industry company entered the exchange.
In October, the share of the company in the aggregate indicator of the hashrate of the network reached almost 5% – 13 eh/s. Core Scientific plans to increase power to 17 eh/s until the end of 2022.
Marathon Digital and Riot Blockchain, located in the second and third places, also plan a significant expansion of capacities by mid -2023: up to 13.5 EH/S and 23 EH/S, respectively.
According to Mellerud, it is by this time that the share of public miners in the hashReet of bitcoin can reach 40%. The reason for further growth will be the continuation of the supplies of the previously ordered equipment. Some companies already have thousands of devices awaiting in warehouses, the analyst recalled.
However, in his opinion, the growth of the indicator will slow down. This is due to the financial difficulties of public miners and possible bankruptcy. Mellirud also indicated that most of the segment companies (except Bitfarms) conduct and expand operations in North America. Tariffs in the region, as in Europe, suffered stronger than others from rising energy prices.
Private miners have the opportunity to be more flexible about finding a “cheap outlet” in South America, Asia and even Africa, the analyst believes. This is their advantage, he added.
“Therefore, I believe that in the long run we will never see that the public miners control more than half of the bitcoin network,” Mellerud concluded.
Recall that in September the industry faced the first major bankruptcy – a private mining company and a hosting provider Compute North made a statement of financial failure.
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