The Future Of Mining: Is Private Mining Dead?
At the beginning of 2021, amid the proliferation of cryptocurrencies, interest in mining digital money has become explosive. This trend has persisted over several months. However, not all users wishing to mine cryptocurrencies had adequate resources to set up their own mining rigs. And the solution was obvious — to deploy home mining farms that enable even low-scale crypto mining.
This led to another trend — the increase in at-home cryptocurrency mining and the emergence of private miners. In practice, such small mining farms had great prospects, and in theory, they could even compete with large data centers in terms of returns, as they did not require capital investment and operating costs. Nonetheless, global economic and political conditions have recalibrated these perspectives. Now, the prospects for private mining no longer look so bright, and some experts take a firm position in addressing the future of small mining farms. However, everything is not as simple as it may seem.
Let’s talk about what’s brought about those changes, analyze the world’s political and economic aspects, find out if it is still viable to have a small mining farm, and what are the alternative solutions to private miners.