Coronavirus Crisis may Shake up Smaller Bitcoin Mining Operations
The future of Bitcoin mining during the coronavirus remains in question. Not all countries deem these operations “essential” or “non-essential”, raising a lot of questions.
Most Bitcoin mining firms appear to be trucking along nicely.
What Comes Next for Bitcoin Mining Operations?
How long that situation will remain in place, is a different matter altogether.
During the coronavirus crisis, it has become apparent that these operations aren’t always essential.
That situation differs greatly from one region to the next, however.
Canada, for example, still classifies Bitcoin mining farms as “essential businesses“, which is somewhat surprising.
In Argentina, on the other hand, all operations have been forced to shut down in recent weeks.
A similar situation has become apparent in other regions across the world.
Thankfully, most Bitcoin mining operations can be run with minimal human interaction.
Remote monitoring for such operations is always an option as well.
That being said, the companies that can remain operational seems to have a bit of an unfair advantage.
That may cause some big shifts in the Bitcoin mining landscape moving forward.
It has been rumored for weeks now that some smaller operations may be forced to merge with others in the very near future.
As such, it would effectively further centralize Bitcoin mining in general, which is far from ideal.
Image(s): Shutterstock.com
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JP Buntinx, Khareem Sudlow