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Public Bitcoin Miners Are Ramping Up

The beneath is from a latest version of the Deep Dive, Bitcoin Magazine’s premium markets publication. To be among the many first to obtain these insights and different on-chain bitcoin market evaluation straight to your inbox, subscribe now.

China’s mining exodus this yr has turn out to be the largest alternative for bitcoin miners to capitalize around the globe. Not solely have we seen the community hash price proceed its aggressive restoration over the previous couple of months, however we’ve seen mega progress in public bitcoin miner manufacturing with main mining alternatives unfolding, particularly within the United States. One nation’s ban is one other nation’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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