Bitfinex analysts say Wall Street funding of public Bitcoin mining companies has significantly altered the incentive structure behind Bitcoin mining.
Institutional capital investment in public Bitcoin mining companies has disadvantaged individual and small-scale miners and could have lasting implications on network dynamics.
A Bitfinex report delving into market dynamics around the upcoming Bitcoin (BTC) halving unpacks a changing dynamic in the cryptocurrency mining ecosystem over the past decade.
It suggests that publicly listed Bitcoin mining firms mark a shift away from a decentralized vision of individual miners contributing to the security of the network for personal gain.
