{"id":306349,"date":"2021-07-23T12:23:24","date_gmt":"2021-07-23T09:23:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-mining-is-becoming-vastly-more-decentralized-in-2021\/"},"modified":"2021-07-23T12:23:24","modified_gmt":"2021-07-23T09:23:24","slug":"bitcoin-mining-is-becoming-vastly-more-decentralized-in-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-is-becoming-vastly-more-decentralized-in-2021\/","title":{"rendered":"# Bitcoin mining is becoming vastly more decentralized in 2021"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a238b322bd46\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a238b322bd46\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-is-becoming-vastly-more-decentralized-in-2021\/#Small_guys_increase_slice_of_mining_pie\" >Small guys increase slice of mining pie<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-is-becoming-vastly-more-decentralized-in-2021\/#Many_miners_%E2%80%9Cdisproportionately_sustainable%E2%80%9D\" >Many miners &#8220;disproportionately sustainable&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin mining is becoming vastly more decentralized in 2021 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) has become considerably more decentralized in the past year, one metric suggests \u2014 and the trend is growing.<\/p>\n<p>According to data from on-chain data resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.blockchain.com\/charts\/pools-timeseries\">Blockchain<\/a>, hash rate distribution is increasingly favoring small, unknown miners.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Small_guys_increase_slice_of_mining_pie\"><\/span>Small guys increase slice of mining pie<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the past twelve months seeing a large price run-up, Bitcoin miners have not become more \u201ccorporate\u201d \u2014 mining is actually seeing more anonymous, small-scale entities join in.<\/p>\n<p>Looking at hash rate distribution, the trend is in evidence ever since the March 2020 crash, and this year has gathered pace. <\/p>\n<p>The drawdown from $64,500 all-time highs precipitated the move towards smaller players, something which would be expected from a falling hash rate incentivizing them to mine.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/89b133d6-6fe4-4069-aa9f-e54954eb0b87.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin mining hash rate distribution chart. Source: Blockchain<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, meanwhile, the hash rate has stabilized over the past two weeks and begun reclaiming lost ground. <\/p>\n<p>Analysis of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.blockchain.com\/charts\/miners-revenue\">revenues<\/a> collected by the mining community as a whole underscores the recovery taking place, giving hope for the upward trend which characterized hash rate until May to resume.<\/p>\n<p>At the time of writing, the hash rate <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/miningpoolstats.stream\/bitcoin\">totaled<\/a> an estimated 95 exahashes per second (EH\/s), up from the floor of 83 EH\/s.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/0573c8a2-638b-4192-8ec8-4a5a7f42625d.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin miner revenue chart. Source: Blockchain<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Many_miners_%E2%80%9Cdisproportionately_sustainable%E2%80%9D\"><\/span>Many miners &#8220;disproportionately sustainable&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Future changes among miners nonetheless <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to focus on larger players, which in the wake of the Chinese rout are gathering force in the United States and elsewhere.<\/p>\n<p><strong><em>Related:\u00a0A green revolution in crypto mining? Industry answers wake-up call<\/em><\/strong><\/p>\n<p>A slew of announcements this month, including one mining firm planning to go public in the U.S., combines with <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> that the industry\u2019s environmental credentials are changing rapidly.<\/p>\n<p>\u201cWe\u2019re also seeing a lot more disclosure from miners \u2013 32% of the hash rate joined a council, Bitcoin Mining Council, and they produce quarterly disclosures now, and within that sample, the miners were 67% renewable or nuclear powered,\u201d Nic Carter, co-founder of CoinShares, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DocumentingBTC\/status\/1418213206548520960\">told<\/a> CNBC Wednesday.<\/p>\n<blockquote><p>\u201cSo the miners that are disclosing \u2014 and a lot of these are western miners that are exposed to western capital markets \u2014 are disproportionately sustainable in their operations.\u201d<\/p><\/blockquote>\n<p>Elon Musk, CEO of Tesla and SpaceX, hinted that Tesla may begin accepting Bitcoin for payments again in the coming months based on these environmental changes.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-mining-is-becoming-vastly-more-decentralized-in-2021\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin mining is becoming vastly more decentralized in 2021 &#8221; Bitcoin (BTC) has become considerably more decentralized in the past year, one metric suggests \u2014 and the trend is growing. According to data from on-chain data resource Blockchain, hash rate distribution is increasingly favoring small, unknown miners.\u00a0 Small guys increase slice of mining pie&#8230;<\/p>\n","protected":false},"author":1,"featured_media":306350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZjUxYzk1ZTMtMzhhYy00MWI0LTgxYWEtZTM5ZjBlN2M4NTlmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,73785],"class_list":["post-306349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/306349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=306349"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/306349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/306350"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=306349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=306349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=306349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}