ICYMI: Mapping out the crypto mining ecosystem
The steadfast and still-growing crypto mining ecosystem can be broken down into many verticals, but most important are its mining pools, manufacturers, and lenders.
A few requirements must be met when becoming a Bitcoin or PoW miner, such as obtaining hardware , mining software, a wallet, and a mining pool if they do not plan to solo mine. The mining ecosystem was previously centered in China but due to recent regulatory crackdowns in 2021, the space saw a substantial departure of key players such as mining data centers, manufacturers, and operators from China over to countries like Kazakhstan, the United States, and Canada.
The mining power required to mine Bitcoin can be derived from renewable energy supplies like wind, solar, and hydroelectric.Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.
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