The evolution of Bitcoin mining – from start to finish

December 14, 2021, 10:33AM EST

• 9 min read

Quick Take

  • In our first of many research pieces on crypto mining, we look at the evolution of the ecosystem over the past decade.
  • Since the Bitcoin ASIC mining era in 2013, manufacturers have managed to improve miner efficiency by 100 times. 
  • Mining farms have transformed from small facilities to publicly-listed companies with hundreds of megawatts in their production pipelines.

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