Does Bitmain still dominate bitcoin’s hashrate?

A common concern in the Bitcoin space is the centralization of mining in China, and in particular with Bitmain. As expected, we continue to see a trend toward the commoditization of the ASIC mining chips. It’s in China that the world’s largest chip makers are developing, producing and selling mining chips to mining operations around the world. Bitmain’s hashrate and pool dominance has kept on fading during 2018 and is maintaining this trend in 2019. Mining profits have allowed several credible startups to compete with Bitmain. For example, Samsung seems to be producing its own Bitcoin mining chips now. This trend is still early and China has a significant lead that will not evaporate overnight, but it should create investment opportunities for Bitcoin mining companies that are part of this evolution.

Leave a Reply

Your email address will not be published. Required fields are marked *