Bitcoin miners have been mining for the last four years, and their success has been a boon for the cryptocurrency.
But in 2017, the number of bitcoin mining machines dropped to just a handful, making the cryptocurrency more difficult to mine than it was in previous years.
What’s going on?
This year, bitcoin mining has gotten a bit more attention due to the news of a massive hack in which a group of hackers stole $100m worth of bitcoin last year.
Bitcoin miners have also been hit with increasing competition from cheaper cryptocurrencies like Ethereum, which have been gaining popularity as a way to buy goods and services online.
But a lot of bitcoin miners are still running the old-school, centralized method of mining.
While the mining boom is over, the cryptocurrency mining industry still has a long way to go.
There are some Bitcoin-based hardware manufacturers like Digicel and Digi-Key, but even they aren’t offering miners the same amount of power and speed that miners can currently achieve.
With more and more mining equipment, the mining industry will only continue to grow.
What do you think about bitcoin mining being more difficult than it has been in the past?
Let us know in the comments below!