Micro $3 Miners Won’t Make Much - The Point Is Not The Point Though

According to their creators, portable Bitcoin miners are a protest against the secrecy and exclusivity of the Bitcoin mining business.

Source: www.reuters.com

Micro Bitcoin mining machines, despite their poor performance, should be viewed as a protest against what their creators claim to be the biggest weakness in the Bitcoin ecosystem. Micro Bitcoin mining devices, which are frequently open-source and small enough to fit in a pocket, have been catering to a certain segment of the market by providing customers with fully constructed equipment or DIY mining kits. The creators of these kits acknowledge that purchasers won't probably make much money, but they insist that it's critical to combat the secrecy and exclusivity of the Bitcoin mining sector.

One business, BitMaker, has asserted that one with 50 kilohashes every second output could be produced for as cheap as $3. A renowned Bitcoin ASIC mining rigs, representative of BitMaker claims that, a firm developing micro miners since June 2022, are closed-source, quite different from Bitcoin's source code.

They stated that this has restricted the production and availability of Bitcoin miners to businesses. Data shows us, the United States accounts for 35.4% of the Bitcoin hash rate, ahead of Kazakhstan (18.1%), Russia (11.2%), and Canada (9.6%). Some of the biggest mining companies in the world include Singapore's Bitdeer Technologies Group, Riot Blockchain, and American company Marathon Digital. Similar thoughts were expressed by Skot, a maker of Bitaxe miners, who told Cointelegraph that enabling much-needed industry transparency through open-sourcing the design.

With the development of these open-source initiatives, this frequently opaque field is made more clear and available to the public, Skot mentioned briefly. Skot admitted, though, that consumers shouldn't anticipate making a lot of money with Bitcoin straight away. Although Bitaxe developers are attempting to improve the miners' efficiency, he claimed that the portable miners' goal isn't to make money. It's occasionally about generating money; often it's simply about understanding, learning, and adding value to a community.

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