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Bitcoin mining is lucrative, but ‘dangerous to be confined to one country’
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With Bitcoin hovering around the $50,000 level at press time, extreme fear was palpable across the market. But, that’s not what the Bitcoin community is concerned about in the long run. In a recent interview, Whit Gibbs, Founder & CEO of Compass Mining, explained why BTC’s hashrate is an important factor to consider. He said,
“The growth of Bitcoins hashrate is incredibly important because obviously as an asset class we want to see it continue to succeed and be secure. “
Applauding the network’s resilience following events like China’s policy decisions this year, Gibbs noted that the hashrate has been rising over the past few months as machines relocated globally.
At the time of writing, Bitcoin’s hashrate was estimated to be 170.06 EH/s with
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