The Bitcoin network is approaching a historic milestone by reaching 1 zettahash per second, an achievement that reflects the immense growth of computational power among miners. However, reports from TheMinerMag indicate that this story is not just a numerical achievement, but carries significant challenges.
Pressure on profit margins:
As the network's hash rate approaches 1 ZH/s, competition among mining companies increases, putting pressure on profit margins. According to a report from TheMinerMag, the biggest challenge lies in keeping the hashprice below $60 per PH/s, while transaction fees represent less than 1% of block rewards for the first time.
Market share shifts:
In the midst of this competition, data indicates that publicly traded mining giants like MARA, IREN, CleanSpark, and Cango have strengthened their dominance, capturing nearly 20% of the July rewards. This growth reflects these companies' investment in the latest mining hardware and technologies.
Regulatory pressures:
The mining sector faces increasing regulatory pressures, particularly in the United States, where reports indicate a sharp rise in tariffs on mining equipment, which could place major mining companies in the position of facing hundreds of millions of dollars in potential liabilities.
Mining is not just a technical process, but also a sensitive business affected by multiple factors such as hardware efficiency, energy costs, and regulatory changes. As the network reaches this strength, many mining giants are turning towards diversifying their income sources, such as transitioning to high-performance computing (HPC) and artificial intelligence service providers, in order to secure a sustainable future in this changing market.
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