Bitcoin Mining's Future Solved by Capitalism: GoMining's CEO Mark Zalan

GoMining CEO Mark Zalan discusses the future of Bitcoin mining, stating that the industry has evolved from individuals operating mining machines to large-scale farms. He notes that Bitcoin mining's economic incentives will shift towards transaction fees in the coming years. GoMining aims to expand the Bitcoin ecosystem and encourage new economic activities for its users. With over 4 million registered users and 10 million TH/s in Bitcoin miners, GoMining is working to make individual BTC mining accessible and profitable.

Bitcoin mining profitability has experienced a notable decline, with daily revenue per 1 EH/s of hashrate dropping from $56,000 to $52,000 in September, according to CoinDesk Bitcoin Mining Profitability Declines by 7%^[1]. This decrease is primarily attributed to a 2% drop in Bitcoin's price and a 9% increase in the network's total computing power Bitcoin Mining Profitability Declines by 7%^[1]. The Hashrate Index further confirms that the hashprice has consistently remained below $49 per PH/s per day, marking the lowest metric values since April Bitcoin Mining Profitability Declines by 7%^[1].

Despite the profitability decline, miner stocks have surged. The market capitalization of the 15 largest American mining companies reached $90 billion by mid-October Bitcoin Mining Profitability Declines by 7%^[1]. Companies like Bitfarms, Canaan, and CleanSpark have seen significant stock increases, with Bitfarms' shares surging by 162% since September 15 Bitcoin Mining Profitability Declines by 7%^[1]. This divergence in trends is linked to the "AI pivot" of cryptocurrency miners, who are expanding into AI computing to capitalize on the high-performance computing boom Bitcoin Mining Profitability Declines by 7%^[1].

CleanSpark, for instance, has announced its transition from pure mining to high-performance computing (HPC), hiring industry veteran Jeffrey Thomas as Vice President of AI-based data centers CleanSpark’s stock surges as it pivots from bitcoin mining to AI infrastructure services^[2]. This strategic shift aims to diversify revenue streams and strengthen long-term cash flow. Similarly, GoMining, with over 4 million registered users and 10 million TH/s in Bitcoin miners, is working to make individual BTC mining accessible and profitable, focusing on expanding the Bitcoin ecosystem and encouraging new economic activities Block Unveils Proto Rig and Proto Fleet, Marking a New Era in Bitcoin Mining^[3].

Block, Inc. has unveiled Proto Rig and Proto Fleet, marking a significant step toward decentralizing bitcoin mining hardware Block Unveils Proto Rig and Proto Fleet, Marking a New Era in Bitcoin Mining^[3]. Proto Rig, a modular mining system, is designed to be durable, repairable, and upgradeable, addressing long-standing challenges in power utilization and lifecycle management. Proto Fleet, a free and open-source fleet management software, offers comprehensive tools for power-scaling, monitoring, diagnostics, and maintenance.

These developments suggest that Bitcoin mining is evolving, with economic incentives shifting towards transaction fees and a focus on high-performance computing. The industry is moving away from disposable hardware models and towards sustainable, efficient infrastructure, positioning itself for future growth and resilience.