Bitcoin security expert: The profitability of miners does not only depend on economies of scale

Recently, Bitcoin security expert Andreas Antonopoulos said in a podcast that in the long run, the profitability of miners does not only depend on economies of scale. During the halving period, the least efficient mining unions worry about high electricity bills and shut down the machines, which will reduce the difficulty. As a result, early miners in unprofitable areas were able to get back on track and achieve profitability. Antonopoulos therefore asserts that profitability does not necessarily depend on large and small mining companies, and solves the problem of “mineralization”, which causes the factors of mining concentration to be more related to the geographic availability of basic chips, geographic availability of cheap electricity Related to the comfortable management area.