The Future of Bitcoin Mining

The future of the distribution of hash rate is really bullish. It's going to be distributed geographically, and from an ownership perspective, way more than it currently is. This is probably an ephemeral trend in Bitcoin mining. But I agree, the life cycle of the chips is elongating. S9s are still profitable. Below two cents, I believe, they've been around for almost eight years now. So that's only going to extend as we reach the physical limits of the amount of electricity we can push through the silicon on these chips.

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