The Mechanics of Bitcoin Mining: ASICs and Efficiency

This chapter explores the technical intricacies of Bitcoin mining, focusing on the critical role of ASICs in the process. It highlights the market dominance of leading manufacturers like Bitmain and MicroBT, while examining the implications of their centralized production on the industry. The discussion also covers advancements in mining hardware, energy efficiency improvements, and the challenges faced by new entrants in the competitive mining landscape.