Now that Bitcoin is bouncing - A newsletter worth subscribing

If you are thinking how else to make money in Bitcoin, worthwhile to do some work on the miners.

To be honest, the listed BTC miners had been terrible... Certainly not a great industry. But with AI, many of them are looking to re-purpose their land/power to meet demands from AI customers.

In a way, this sets a favorable backdrop if/when BTC recovers.

Rough estimate is the US listed public BTC miners make up around 40-45% of global capacity (around 400EH). As these miners chase the AI opportunities, they have been cutting their hash rate (see Pic 1), apart from Bitdeer and Mara.

In addition, many miners left the industry following the price drop. Total hash rate declined as much as 20% from the peak (now hovering around 900EH only).

Accordingly, the remaining miners should do better as Bitcoin recovers (lower difficulty level).

Noticeably, Bitdeer has overtake Mara as the largest BTC miner. Incidentally, its capacity is understated. Its capacity is around 90EH (or 10% of total hash rate).

If you want to follow the BTC mining space, this is a free newsletter (Bitcoin Mining Block Post) worth subscribing. It publishes a weekly email. Over time, I have found it to be informative and handy. Offers a good collection on industry statistics. See Pic 1 and 2.