Prepare for the Next Bitcoin Mining Infrastructure Boom – BlocksBridge Consulting
A new report by BlocksBridge Consulting suggests that a new wave of Bitcoin mining infrastructure boom may be on the horizon. This could lead to further strengthening of the network and dominance in North America. The report highlights that China’s ban on Bitcoin mining in 2021 has resulted in a significant infrastructure buildout in other countries, particularly in North America.
Several major mining companies have revealed their expansion plans, which include increasing their capacity in Texas and other locations. These plans will be supported by the shipment of $1.2 billion worth of preordered bitcoin miners next year. The anticipated halving in April has prompted these companies to prepare for increased mining activity.
Bitcoin Miner Marathon Digital CEO Plans to Make Acquisitions
Marathon Digital Holdings, a Bitcoin mining company, is planning to acquire rival miners and related infrastructure over the next two years. The CEO, Fred Thiel, stated that they intend to expand their operations considerately and become a consolidator in the industry. Thiel believes that the approval of a US exchange-traded fund (ETF) that invests directly in Bitcoin by the Securities and Exchange Commission (SEC) would benefit miners by increasing overall demand for BTC. Marathon Digital Holdings’ shares have seen significant growth this year.
Nearly Half of Binance’s Users Rely on Crypto to Earn Extra Income
A survey conducted by Binance found that almost half of its users rely on cryptocurrency to earn extra income. The survey revealed that 45% of respondents listed earning extra income as their primary use for crypto. Among these users, some aimed to supplement their primary income, save for a home, or invest in other digital assets. The survey also highlighted that high fees and slow transaction times were major challenges when dealing with traditional financial systems and services. Additionally, the respondents believed that crypto could play a role in reducing income inequality and financial disparities within society.
PancakeSwap’s Flagship Game ‘Pancake Protectors’ Expands to Polygon, zkEVM, and Base
PancakeSwap’s popular player-versus-player game, Pancake Protectors, has expanded to include Polygon zkEVM and Base networks. Players can now deposit and withdraw CAKE tokens, the in-game currency, on these networks. The game has gained popularity among the GameFi community, CAKE collectors, Pancake Squad, and Bunnies NFT holders. With over 25,000 daily active users during peak times, Pancake Protectors continues to attract players. The gaming marketplace also features other games developed in partnership with Mobox and Binary X.
Hot Take: North America Poised for Bitcoin Mining Dominance
With China’s ban on Bitcoin mining leading to a surge in infrastructure development in other countries, North America is emerging as a dominant force in the industry. Major mining companies are expanding their operations and preparing for increased mining activity with the shipment of new bitcoin miners. This infrastructure boom is expected to further strengthen the Bitcoin network and increase its hashrate dominance. Additionally, Marathon Digital Holdings plans to make acquisitions to consolidate its position in the industry. Binance’s survey highlights the growing trend of using cryptocurrency to earn extra income. And PancakeSwap’s expansion to other networks showcases the increasing popularity of blockchain-based gaming. As the crypto industry continues to evolve, these developments indicate promising growth opportunities for investors and users alike.
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