Wu said the author|Colin Wu

Editor of this issue | Colin Wu

Wu said the author|Colin Wu

Editor of this issue | Colin Wu2021 may be the most important year in the history of cryptocurrency mining.

In the first quarter, Chinese mine owners are actively building consumption parks with local governments to welcome the high water season. By the second quarter, China's central government suddenly introduced a draconian policy to crack down on Bitcoin mining, and escalated it to the point where it jeopardized the carbon neutrality policy and even endangered national security. Under such unexpected circumstances, almost all large mines were closed, and small and medium-sized mines also faced heavy inspections from local governments. The Bitcoin computing power of the entire network plummeted by 50%.Going to sea, waiting, transforming? Where will the Chinese miners go after 619

Fortunately, in the bull market, miners generally accumulated more profits and began to migrate. When the ban was first issued, Kazakhstan was a better place to migrate than the United States. On the one hand, the distance is relatively close, and on the other hand, the United States has high punitive tariffs. However, with the advent of winter, Kazakhstan began to experience severe power shortages, and the Kazakh government also began to crack down on gray mines that did not obtain approval. Under such circumstances, many Chinese companies announced to bid farewell to Kazakhstan and moved to Russia and the United States again. However, it cannot be ruled out that Kazakhstan’s computing power will pick up again after the arrival of spring next year.Kazakhstan miners usher in a "difficult winter" due to power outages in some mines

The United States has a good market-oriented mechanism, legal system, and power infrastructure. The difficulty lies in high tariffs and high construction costs. But under the current circumstances, the United States has almost become the only choice for large miners. The United States is headed by Texas, and almost every Chinese mining company has an office in Texas. After 6 months of transfer, in December 2021, the computing power of the entire Bitcoin network has returned to 180EH/s before China cracked down.Prohibition and support coexist: How do US states support and regulate Bitcoin mining? In the field of mining machines, the top three of Bitmain, Whatsmart, and Canaan are still very stable. Roughly estimated, the annual revenue of Bitmain is about 2 billion to 2.5 billion US dollars. Canaan's annual revenue is around US$700-100 million. In the field of mining pools, the Foundry mining pool under DCG has benefited from the transfer between China and the United States, and its computing power has come to the first position.

Wu said weekly mining information: Bitmain launched a new mining machine in the FIL circle 1101-1107

Wu said weekly mining information: Mining pools have declared that the computing power in North America has increased sharply 1011-1017Mining companies continue to go public. At present, there are North American listed mining companies led by Marathon, Riot, Bitfarm, Hive, Hut8, etc. There are also Chinese-funded mining companies such as Ninetowns, Bitmining (formerly 500.com), BTBT, etc. . Bit deer and others will also be listed next year. However, there seems to be no news of the listing of the two giants, Bitmain and Whatsmart. The transformation of mining companies into listed companies has also caused miners to change from the original selling force to HODLes.

In addition to the Bitcoin mining industry, the computing power of the Ethereum mining industry has risen wildly with the shipment of various ASIC mining machines. Filecoin is just the opposite, the price fell to the bottom at the end of the year. The problem of savage growth in the early stage has led to the investigation of large companies such as Star Alliance, Peer-to-Peer, Renren Mine, etc., and the industry has ushered in a trough.Wu said weekly mining information: Bitmain launched a new mining machine in the FIL circle 1101-1107

It is generally expected that the Bitcoin computing power of the entire network will rise to 300EH/s in 2022. At the same time, the price of Bitcoin is likely to fall with the Fed raising interest rates. Therefore, the overall profit of the mining industry will be greatly reduced. There is a high probability that the conversion of Ethereum POW to POS will be completed in 2022, and it is currently expected to happen in the middle of the year. This will be a major change in the industry.Wu said: Independent and credible reporters are welcome to follow us here

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