What to know (or pretend to care about):
- Bitcoin mining revenue stayed at a cool $1.4 billion in January 2025. That’s a lot of pizzas 🍕.
- Public mining companies hogged 30% of the network’s hashrate. Greedy much?
- The top five mining firms are now in a digital arms race. May the best algorithm win! 🤖
After months of Bitcoin’s hashrate growing faster than a teenager’s appetite, it finally hit the brakes in January. According to TheMinerMag’s latest report, the network’s difficulty even took a little dip—its first since September. Turns out, the big boys can’t keep up with the small fry dropping out of the game. Who knew mining could be so dramatic? 🎭
Revenue from Bitcoin mining stayed steady at $1.4 billion for the month. Publicly traded mining companies, sitting on a mountain of 99,000 bitcoins (worth roughly $9.7 billion, or a small country’s GDP), controlled about 30% of the hashrate. Meanwhile, the rest of the miners are probably crying into their energy bills. 💸
Competition among the big players is getting fiercer than a catfight at a fish market. Marathon Digital (MARA) is still king of the hill with a hashrate of 41.65 EH/s, followed by CleanSpark at 34.77 EH/s. Riot Platforms is hot on their heels with 31.27 EH/s. It’s like watching a tech version of Formula 1, but with more electricity and less glamour. 🏎️⚡
“The competition within the 30 EH/s group is heating up like a GPU on a summer day,” the report said. Meanwhile, the gap between the 30 EH/s tier and the 10 EH/s group (Core Scientific, Cipher Mining, and Bitfarms) is widening faster than your waistline during lockdown. 🍩
With the recent halving event slashing mining rewards by half, smaller miners are finding it harder to compete. It’s like trying to win a marathon against Usain Bolt—good luck with that. Some are even pivoting to hosting machines for AI and HPC firms. Desperate times call for desperate measures. 🤷♂️
Mining hardware imports to the U.S. also slowed in January, which didn’t help the hashrate growth. But hey, at least Blockchain Power Corp and AcroHash imported a bunch of cooling infrastructure from Bitmain. Because nothing says “we’re serious” like a warehouse full of fans. 🌬️
Looking ahead, TheMinerMag predicts another difficulty adjustment decline in February as smaller miners throw in the towel. It’s a tough world out there for the little guys. But hey, at least they’ll have more time to binge-watch Netflix. 🍿
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2025-02-20 21:09