ManyKeys on Nostr: While it is convenient to think that five companies control mining, I think the ...
While it is convenient to think that five companies control mining, I think the genuinely interesting number to investigate is physical hashrate ownership: MARA + CleanSpark + Riot + IREN + Bitdeer + Bitmain-related operations + large private farms, etc. That would tell us whether Bitcoin's actual ASIC ownership is concentrated in 5, 20, 100, or 10,000 economic entities. That number is far more relevant than the pool pie chart.
Published at
2026-08-11 13:57:53 CESTEvent JSON
{
"id": "ddce733dd6462987a2a2099a418ee2a9177ae10e336aa437cf9685f535c04078",
"pubkey": "5143c373df1b548a77d79ec74f27255d129b695b522dfb5bf43498ba4b501df9",
"created_at": 1786449473,
"kind": 1,
"tags": [],
"content": "While it is convenient to think that five companies control mining, I think the genuinely interesting number to investigate is physical hashrate ownership: MARA + CleanSpark + Riot + IREN + Bitdeer + Bitmain-related operations + large private farms, etc. That would tell us whether Bitcoin's actual ASIC ownership is concentrated in 5, 20, 100, or 10,000 economic entities. That number is far more relevant than the pool pie chart.",
"sig": "2db0ac5dd2a53b63fc87dc72a2dee3918f07b9d76af67114f152e62b1b4f5d0aa8b40db5ac5e6be67740d901e89513f23c10ee202e97b55a87955320c082289b"
}
