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Miners have been rapidly stacking and deploying ASICs at an impressive pace this year. So far, they’ve added around 60 EH/s to the Bitcoin network, with the total network growing by about 150 EH/s in 2023.

Currently, these miners miners contribute roughly 26% of the overall network hashrate. Some believe we’ll hit between 800 EH/s to 900 EH/s on the Bitcoin network by the end of the year. Recently, we reached an estimated daily peak of 742 EH/s.

PS when negative it means names like HUT are turning off old rigs

h/t Seb for the chart

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Paul Stewart

Thanks for the updates. I’m way too concentrated on CLSK and luckily bought low but it does not feel good seeing it drop from 22 to here. hoping to diversify when it bounces back. Lesson learned. FYI: I’ve been holding for 2.5 years now and bought heavy when it was at 4 ish.

SBullls

I bought WGMI, less stressful IMO. Made great money on CLSK and Iren and CORZ, but now in the red but not as much as holding a single miner

SBullls

I am not saying it was the right or wrong call, but felt less stressful at the time since it’s a cut throat business, if one goes down you don’t lose your whole bag

Rob

Miners are inflationary unless they can grow their hash faster than the % of new miners. Unfortunately since there are ETF's now people are no longer needing miners to get exposure to BTC. Just a heads up, they might not outperform BTC anymore unless you swing trade them.

kg225

Why clsk is down so much now ? I BOUGHT MORE YESTERDAY 😎

phutureproof

Manic Miners (Anyone remember that?)

Pla Dim

Thank you James

Urstillfool

Hi James Would be really helpful if you could do a chart of past and projected stock issuance/ dilutions for each miner Thanks for all you do

Boolish

I’m in the exact same boat as you. I was hoping for $30 ish but I don’t think it might be happening anytime soon. I’ll just settle for $20+

Andy

I wonder how much centralisation there is now in the US, how easy would it be to coordinate a takeover of all these miners and do a 51% attack on the network?

Steve Perry

Anybody else concerned about the upcoming stock dilution that CLSK just asked to be voted on? They want to double the issuance of common stock. From current 300 million to 600 million. Also one of their Directors sold a large number (22,222 shares of common stock) at $9.24 per share. Both Red flags from what I’ve learned following IA. Could anybody answer this or get the question to IA as I can’t get access to community.investanswers.io as it constantly says I timed out or switched browsers 🤷🏻‍♂️