NEW YORK / LONDON (IT BOLTWISE) – The Bitcoin mining industry is becoming increasingly competitive as so-called Tier 2 operators narrow the gap to established leaders in realized hashrate. This suggests a more even playing field after the 2024 halving. Companies such as Cipher Mining, Bitdeer and HIVE Digital have rapidly increased their realized hashrate after several years of infrastructure development, narrowing the gap to leading players such as MARA Holdings, CleanSpark and Cango.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
The Bitcoin mining industry is currently undergoing a remarkable transformation as mid-sized operators, known as Tier 2 miners, are gaining traction. This development suggests a more level playing field following the 2024 Bitcoin halving, which saw block rewards halved. Companies such as Cipher Mining, Bitdeer and HIVE Digital have significantly increased their realized hashrate in recent years, indicating successful expansion of their infrastructure.
Realized hashrate, a measure of actual on-chain performance and miner efficiency, doubled to 326 exahashes per second (EH/s) among leading public miners in September. These miners now account for almost a third of the total Bitcoin network hashrate. This development shows that mid-level miners, once far behind the market leaders, have increased their production significantly since the 2024 halving.
There is intense competition for market share in the industry, leading Bitcoin mining companies to take on record debt to invest in new mining rigs, AI infrastructure and other capital-intensive projects. Total debt in the sector rose to $12.7 billion, compared to $2.1 billion a year ago. These investments are necessary to maintain the share of the Bitcoin hashrate and not fall behind the competition.
Some mining companies are diversifying their revenue streams by focusing on AI and high-performance computing to offset declining margins after the 2024 halving. These strategic steps are crucial to remaining competitive in a rapidly changing market environment. The future of Bitcoin mining will depend on companies’ ability to adapt to new technologies and continually improve their efficiency.
*Order an Amazon credit card with no annual fee with a credit limit of 2,000 euros! a‿z
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ «KI Gadgets»
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “Medium Bitcoin Miners Gain Ground, Changing Competition Post-Halving”.
The post Mid-sized Bitcoin miners are gaining ground and changing the competition after the halving appeared first on Veritas News.
