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Bitcoin Mining ASIC Manufacturing Domain Likely To Consolidate More, As Per BitMEX Report

The Bitcoin (BTC) mining ASIC manufacturing commerce is anticipated to move towards consolidation. Similarly, the extensive crypto mining farm operating sector is allegedly giving indications of consolidation.

The major reason behind the consolidation is increased opposition, geopolitical compressions and sluggish returns on investment subsequent to the recent halving of Bitcoin.

BitMex Report On Bitcoin ASICs

BitMEX, a cryptocurrency derivatives exchange, recently published a report mentioning that it might be a possibility that only two or three players subsist in the long period.

The aforementioned report further investigates the past and current state of the ASIC manufacturing trade, with an emphasis on the key players presently involved. These include MicroBT, Canaan, Bitmain, and Ebang.

It is to be noted that ASIC refers to digital asset mining hardware that makes use of Application-Specific Integrated Circuit chips. These are tailored to competently mine digital assets on the basis of a detailed hashing algorithm.

What do you think about the latest report of BitMex? Are you bullish or bearish on crypto mining industry? Let us know in the comments below!

Image by Bianca Holland from Pixabay