Bitcoin mining will become more decentralized in 2021

Bitcoin (Bitcoin) Has become more decentralized in the past year, and one indicator shows – and this trend is growing.

According to the data of the data resources on the chain Blockchain, Hash rate distribution is more and more beneficial to small, unknown miners.

Little guys add a piece of mining pie

Although prices have risen sharply in the past 12 months, Bitcoin miners have not become more “corporate”-mining is actually seeing more anonymous small-scale entities join in.

From the perspective of hash rate distribution, this trend has been obvious since the crash in March 2020, and the pace has been accelerated this year.

The fall from the all-time high of $64,500 has prompted investors to switch to smaller players, which is expected because the drop in hash rate will encourage them to mine.

Distribution map of Bitcoin mining hash rate.Source: Blockchain

As Cointelegraph ReportAt the same time, the hash rate has stabilized in the past two weeks and has begun to regain lost ground.

analysis income The information gathered by the entire mining community underscores the ongoing recovery, which gives hope to the upward trend characterized by hash rate, which will not recover until May.

At the time of writing, the hash rate total It is estimated to be 95 exahashes per second (EH/s), which is higher than the lower limit of 83 EH/s.

Bitcoin miner income chart.Source: Blockchain

Many miners are “disproportionately sustainable”

Nonetheless, future changes for miners seem to be concentrated on larger players who are gathering forces in the United States and elsewhere after the defeat in China.

related: The green revolution of crypto mining?Industry sounded the alarm

A series of announcements were made this month, including a mining company planning Listing in the United States, coupled with news that the industry’s environmental qualifications are rapidly changing.

“We have also seen more information disclosed by miners-32% of the hash rate has joined a committee, the Bitcoin Mining Committee. They now publish quarterly. In this sample, 67% of the miners are renewable energy or Nuclear-powered,” Nic Carter, co-founder of CoinShares, tell CNBC Wednesday.

“Therefore, the miners who disclose information-many of them are Western miners exposed to Western capital markets-have disproportionate sustainability in their operations.”

Elon Musk, CEO of Tesla and SpaceX, Hint Based on these environmental changes, Tesla may start accepting Bitcoin payments again in the next few months.