Prepare for a North American Bitcoin Mining Infrastructure Boom + More News
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A new wave of Bitcoin (BTC) infrastructure boom may be coming, which could further strengthen the network and hashrate dominance in North America, according to the latest Miner Weekly report by BlocksBridge Consulting.
China’s 2021 Bitcoin mining ban has led to a “massive infrastructure buildout” in other countries. Much of it is in North America, especially in Texas, USA.
Now, over the past few weeks, several major mining companies have revealed their near- and long-term site expansion plans.
This expansion will progress with their $1.2 billion preordered bitcoin miners that will begin shipment next year in anticipation of the halving in April, the report said.
Some of the plans include:
Bitcoin mining company Marathon Digital Holdings plans to acquire rival Bitcoin miners and related infrastructure in the next two years, according to Bloomberg.
Chief Executive Officer Fred Thiel was quoted as stating that: “We intend to expand considerately” in 2024 and 2025. “I think you’ll see us being a consolidator in the industry.”
An approval from the US Securities and Exchange Commission (SEC) of a US exchange-traded fund (ETF) that invests directly in Bitcoin should be beneficial for miners because it will boost overall demand for BTC, Thiel said.
The company’s shares have jumped more than 400% this year, the report added.
Crypto exchange Binance’s survey of over 1,000 respondents found that nearly half (45%) listed earning extra income as their primary use for crypto.
Among these respondents, 23% indicated that their goal was to supplement their primary income, with
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