Public Bitcoin Miners Control Around 28% Of The Total Hashrate

In a new post on X, Bloomberg Intelligence market analyst Jamie Coutts discussed how the mining industry has evolved. The first thing Coutts talked about is what the share of the global Bitcoin hashrate is looking like between private and public miners.

The “hashrate” here refers to the total computing power the miners have connected to the Bitcoin network. This metric can serve as a measure of the security of the blockchain, as more mining rigs being attached means a 51% hack is harder to perform.

The security also depends, however, on how decentralized the hashrate is. A large amount of it being controlled by a single entity could make it easier to access all that hashrate, at least on paper.#BTC #opbnb #crypto2023