The bulls have unveiled a new vein of gold for 2021, with Bitcoin (BTC) breaking above $ 34,000 on January 3, 2021, and targeting $ 100,000 by the end of the year. What more does it take than a rally marked by a succession of parabolic rises to motivate miners? Riot Blockchain recently acquired 15,000 S19 and S19j Pro Antminer from Bitmain. The mining industry has evolved and evolved with Bitcoin. From mining in the living room or in the bedroom, to “calculation monsters” capable of delivering significant hash powers: the mining industry wants to become (even) greener.
Everyone finds their account with Bitcoin
2020 was marked by the crucial role of institutional investors in raising the price of Bitcoin, and indirectly that of the price of altcoins.
Critics of Bitcoin and cryptos of yesterday, have become their allies today. JPMorgan and Goldman Sachs revised their initial position on cryptocurrencies: the 2 companies now offer banking services relating to digital assets.
The rally started by Bitcoin in October 2020, was beneficial to all its holders, especially minors BTC.
The latter are investing in increasingly powerful materials, to cope with the increasing difficulty of mining.
For greener machines and chips
The mining industry has undergone a succession of transformations over the past few years that have brought it to its current level. The 1st miners used simple CPU then GPU.
In 2011, the FGA became the new standard before being replaced by ASICs, which are now the dominant technology in the industry.
Future areas of development will include re-inventing mining hardware to make it less power-consuming and reprogramming chips to make it easier to use hybrid power.
Contrary to the bad image from which the mining industry suffers, the latter is in fact relatively eco-responsible with a 70% share of renewable energies in its electricity consumption, although these green energies are not always reliable for miners. who have a constant need for electricity.
A hybrid model in which renewable energies are the main source of electricity requires reprogramming of the mining chips in order to facilitate the switch between the 2 sources without disrupting mining.
Will miners promote or handicap bull running in 2021? Bitcoin is a technological reserve: manufacturers of mining equipment will have to take up the challenge of producing super-powerful calculators that consume little energy. Science will likely benefit in the future. Thanks WHO ?
Litecoin, welcome in the Silver Age