Published: 07.04.2022
Article reading time:
1 min.
Analysts at Arcane Research believe that public mining companies account for a fifth of the total hashrate, which will affect the future of the Bitcoin network.
Arcane Research has published a report showing that public mining companies of the first cryptocurrency currently account for 19% of the total bitcoin hash rate. In January last year, this figure did not exceed 3%.
According to the report, the number of public mining companies was small in 2021, but now there are about 26. Analysts suggest that the increase in the number of such companies is due to greater access to investment capital, which allows mining farms to expand much faster than non-public competitors.
Now 44.95% of the world hashrate is accounted for by miners from North America. Analysts expect that with the projected massive increase in hash rate targets among public companies, the share will increase. This means, Arcane Research says, that the Bitcoin network will become more centralized over time.
In November last year, it became known that US mining companies were facing a supply crisis due to a global shortage of semiconductors. Several large market participants, such as Riot Blochain and Bitfarms, did not receive the purchased equipment.
Earlier, Arcane Research stated that thanks to the numerous sources of renewable energy, Norway is currently producing 100% “green bitcoin”.
Source: Bits
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