How do you explain mining profitability tightening even with high prices?
Replied byFred Thiel
Chairman and CEO, MARA Holdings at MARA Holdings
Niche: Cryptocurrency, AI, Technology, Finance
Revenue: $1M+/month
Location: USA
Started: 2010
Two things matter: the reward per block and how many blocks you win, which depends on your share of global hash rate. Global hash rate grew all year, so difficulty got harder. If you did not add capacity, you went backwards. Cost structure decides who survives when price dips.
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