The Future For Cryptocurrency Mining — What Will It Take To Sustain Investor Interest?

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211,000,000,000,000,000,000 hashes per second — that’s how fast the Bitcoin (CRYPTO: BTC) network is processing information at this moment according to Blockchain.com.

This mind-bogglingly large number — that’s 211 with 18 zeros after it — is a testament to the incredibly competitive nature of the Bitcoin mining industry. Since July 2021, Bitcoin’s total hash rate has nearly tripled. Looking back, you’ll find the total hash rate has risen nearly every year since Bitcoin’s inception. 

For operators like Bluesky Digital Assets Corp. (CNSX: BTC) (OTC: BTCWF), Marathon Digital Holdings Inc. (NASDAQ: MARA), Riot Blockchain Inc. (NASDAQ: RIOT) and Hut 8 Mining Corp. (TSE: HUT), this metric demands a need for competitive advantage — something to tell the world, “I will be successful despite the rising difficulty in my field.”

The need for this “special something” is arguably of paramount importance now, as the cryptocurrency market experiences a slump and investors become more risk-averse. 

Here are four trends that may arise as a result of the pursuit of a competitive advantage. 

Investor Scrutiny

As the cryptocurrency market experiences a drawdown, investors could be less likely to lend their capital to operators and could be warier about which operators they choose to fund.

It’s likely no longer a competitive advantage to just be mining cryptocurrency or have plans to order future machines. Investors may need to see their chosen …

Full story available on Benzinga.com

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