In 2021, Chinese Bitcoin miners are actively “marginalizing”?

Press Release: October 27, 2023

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In 2021, Chinese Bitcoin miners are actively “marginalizing”?
In the past ten years, too many legends have been born in the cryptocurrency mining industry.
For example, Zhang Nangeng, the founder of Canaan Technology, the first Chinese mining company, built the world's first Bitcoin FPGA miner and the first ASIC miner.
For example, Wu Jihan and Yang Zuoxing, the former established Bitmain, a miner company. The latter has established a Shenma miner capable of competing for the first place. The latter has established a Shenma miner capable of competing for the first place.
For example, Shenyu, Pan Zhibiao and Xu Xin, the first two created today's world's first and second Bitcoin mining pool Yuchi and Binyin mining pool. In contrast, the latter created Ethereum's largest mining pool, Spark Pool.
Many bigwigs active in the cryptocurrency circle also come from the mining industry, Jiang Zhuoer, Zhu Fang, Yang Haipo, Zhuang Zhong, etc.
However, 2020 is a watershed. These pinnacle figures of China's mining industry seem to be withdrawing from the stage of cryptocurrency discourse one by one. Does this mean that mining is becoming less and less critical? Marginalized? I prefer to interpret that the era of cryptocurrency has changed, cryptocurrency has entered a new era, and mining has also entered a new stage of development.
At the turning point of the times, Bitcoin miners "retreated behind the scenes."
Mining is about to be marginalized. At least it feels away from the center of discourse. Why? I thought of 2 reasons.
1. Bitcoin is becoming more and more stable, and mining has become the guardian of the value network.
In the next four years, it is foreseeable that Bitcoin will not be halved, and it is unlikely that there will be a fork, and the primary Bitcoin network will become more stable.
Although it has been under development, there will be almost no sound on the Lightning Network in 2020. It can be said that with Ethereum's Layer 2, the value of the Lightning Network is no longer what it used to be. The bearers can directly say: It is meaningless.
In 2021, perhaps Bitcoin will become a configurable asset of financial institutions. There are countless beautiful stories, but that is not the stage for miners.
Miners are the maintainers of the Bitcoin network. There is no stage for mining practitioners to perform without the new dynamics of the underlying network of suspense and stories.
2. Embracing new infrastructure and transforming the Bitcoin mining industry, will it "de-circulate"?
The current mining industry has a non-compliant side. Still, not all links are non-compliant, and the most significant impact of new infrastructure on the mining industry is the introduction of new infrastructure funds into the mining industry under the premise of compliance. Moving towards compliance is a significant trend in the development of the mining industry. All links from electricity consumption and mine construction to fire protection, environmental protection, land and taxation will be compliant.
Today, many Bitcoin mining farms seek financing, and even some mining farms seek to go public. This was completely unthinkable before. Therefore, instead of thinking of it as a Bitcoin factory, it is better to think of it as a computing power center in the blockchain world. This is a vast blue ocean market.
In 2021, 2 things to look forward to in the mining industry
1. Is the mining tycoon coming back out of the arena?
In 2020, Wu Jihan faded out of the stage. At the end of 2020, Wu Jihan left with BTC.com, Bit Deer, and overseas mining operations.
In 2021, Bitcoin miners are hard to find, and futures miners have been sold until the middle of the year. We can expect that as the turmoil of their respective companies subsides, opinion leaders may return to the arena again. At that time, I don't know if they can make a sound from the mining industry.
2. With the rise of overseas power, how will the mining trend change?
Few people know that Kazakhstan's Bitcoin hash rate accounts for 6.17% of the world's total, which makes it ranked fourth in the world, second only to China, the United States and Russia. Specifically, in the seven months from September 2019 to April 2020, Kazakhstan's Bitcoin computing power increased by 334%, leading the world.
In 2020, a tremendous feeling was that Chinese miners go to sea and overseas companies enter mining. For example, at a computing power conference in Chengdu, Whatsminer's overseas orders rose rapidly, including North America and Europe, accounting for about 40%.
Recently, there has been more news of this kind, including NASDAQ-listed Ninth City, Marathon, Core Scientific, etc.. Companies that have heard of it or have not heard of it are all setting up mines and buying miners.
The miners sold by Zeus Mining include the Antminer S9 series , the Antminer L7 , and the Antminer L3+ . Click on the official website to learn more about the miner.
 
Previously, the buyers of miners were small and medium-sized miners, and everyone wanted to pay back quickly and was keen to calculate the payback period. Today, the return cycle of miners has been dramatically extended, and significant capital has entered the market. The annualized return of capital is equivalent to saying that the basis of calculation has changed. Capital values long-term mining, and the future is a large-scale, intensive, and refined mining world, and the expectation of a quick return to costs is unrealistic.
From crypto-finance to crypto-mining, the United States has begun to take the lead. Will this trend change in 2021 and beyond? Let's look forward to it together!

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