Where's all the news on Crypto mining?
Where's all the news on Crypto mining?
It seems like any news regarding these massive bitcoin mining companies has all but disappeared. You don't seem to seen all the little articles about some guy in Baltimore with a huge mining operation in his garage and stuff like that.
Re: Where's all the news on Crypto mining?
Crypto Mining is pretty much dead for small operations afaik. It may still be feasible for some large-scale businesses, and if you have access to free/low-cost electricity.
Most people in the past few years were mining other alt coins (Ethereum, etc.) with number of graphic cards, rather than Bitcoin directly. Even mining those alt coins became increasingly difficult and Ethereum even changed the mining algorithm rendering many of those mining operations useless.
Years before that alt coin craze, Bitcoin was more of a fringe/geek thing, and mining with personal computers/resources was feasible, but that was many years ago. More recently, the only profitable mining operations were huge, using some specialized hardware for that purpose, rigs costing upwards of 20-50k and such. Mining becomes increasingly harder the more people try to mine, complexity increases with the computing power involved so the supply of new coins remains small. Crypto mining has come to a point where it is not feasible for many coins, as the costs involved outweigh the profit.
The more recently popular companies, like Michael Saylor's MicroStrategy and a few smaller SPAC IPOs just try to act like holding/vault companies for the underlying crypto, something similar to a vault with gold, hoping that the underlying asset will increase in value..
Then there is a third type of companies, the Coinbase/Cricle/etc. infrastructure/exchanges companies that help facilitate the crypto market.
You are right though, not many small operations make the news anymore, now it is huge companies and hedge funds launching crypto ETFs.
Most people in the past few years were mining other alt coins (Ethereum, etc.) with number of graphic cards, rather than Bitcoin directly. Even mining those alt coins became increasingly difficult and Ethereum even changed the mining algorithm rendering many of those mining operations useless.
Years before that alt coin craze, Bitcoin was more of a fringe/geek thing, and mining with personal computers/resources was feasible, but that was many years ago. More recently, the only profitable mining operations were huge, using some specialized hardware for that purpose, rigs costing upwards of 20-50k and such. Mining becomes increasingly harder the more people try to mine, complexity increases with the computing power involved so the supply of new coins remains small. Crypto mining has come to a point where it is not feasible for many coins, as the costs involved outweigh the profit.
The more recently popular companies, like Michael Saylor's MicroStrategy and a few smaller SPAC IPOs just try to act like holding/vault companies for the underlying crypto, something similar to a vault with gold, hoping that the underlying asset will increase in value..
Then there is a third type of companies, the Coinbase/Cricle/etc. infrastructure/exchanges companies that help facilitate the crypto market.
You are right though, not many small operations make the news anymore, now it is huge companies and hedge funds launching crypto ETFs.