Bitcoin and crypto mining have evolved since the days of CPU mining, but what does the future hold for this growing industry? 🚀
concept by allowing players to earn blockchain-based rewards for their in-game achievements. These rewards are provided by its partner facility Nova Hydroverse — which is an operational hydro-powered mining operation based in Georgia.platform, Nova MiningVerse directly ties user activity to proof-of-work mining outputs and allows users to earn rewards in Bitcoin.
Despite this, there is still a major push to completely eliminate the economic burden of the cryptocurrency mining industry by moving to a 100% renewable model. In line with this, a large number of 100% renewable mining facilities are going online across the globe. This includes a joint venture between Blockstream and Jack Dorsey's Block, which uses Tesla solar arrays and battery technology to power its new Texas-based mining facility, as well as the aforementioned Nova Hydromining plant.
Arguably the most prominent example of this is Bitmain’s failed IPO attempt in Hong Kong. Despite being valued at ~$1 billion during its September 2017 Series A funding round, Bitmain sought to go public at a valuation of more than $15 billion. However, it then failed to move forward with its IPO. Its application lapsed in March 2019 and hasn't re-applied since.
As ASIC chips have become more capable, their absolute power requirements have also increased, while their efficiency has been slowly improving as manufacturers move toward smaller chip designs — with previous generation miners using 7nm chips while the current generation uses 5nm.
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