Though Bitcoin mining was once a profitable endeavor, it has now become economically unviable for smaller players. As of now, mining one Bitcoin costs about $137,000 in electricity while it only trades for around $94,000, presenting a loss for all but the largest operations. The increasing difficulty and dwindling returns highlight the concentration of wealth in Bitcoin, contradicting its initial vision of decentralizing currency. The top 8 percent of crypto wallets now control nearly 99 percent of all Bitcoin, raising concerns about equity within the crypto ecosystem.
Since Bitcoin's inception in 2009, the amount of energy required to mine has always been less than the amount of Bitcoin you got for mining.
These days, one Bitcoin trades for around $94,000, but costs about $137,000 in electricity for small-scale operations to mine.
Collection
[
|
...
]