The Bitcoin Mining Industry Is Increasingly Concentrated Around a Few Giants. Is This a Worry for the Future of Bitcoin?

Some thoughts on the matter.

Financial giants have continued to gain a foothold in the Bitcoin world in recent months. The cumulative BTC holdings of these financial giants are now approaching one million units!

BlackRock leads the pack that's after your Bitcoin, with over 365K BTC held for its clients.

While the financial giants can congratulate themselves on 2024, other players in the Bitcoin world have had a more complicated year. The Bitcoin Mining market is one such player.

The Bitcoin Mining industry is increasingly dominated by a small number of major players. I've spoken to you about this phenomenon in the past, but the risks of centralization induced by this market concentration are growing ever stronger.

This is all the more problematic given that Bitcoin Mining is an essential activity for ensuring the security and smooth running of the Bitcoin network.