Oh, what a delightful farce! The Bitcoin (BTC) mining difficulty, that most tiresome of metrics, has ascended to a new all-time high of 142.3 trillion-because nothing says “fun” like outdoing oneself in computational absurdity. One must admire the dedication of those who treat blockchains like a particularly demanding tea party guest.
August and September witnessed successive all-time highs, no doubt fueled by the latest wave of computing power, freshly deployed like overenthusiastic guests at a garden party. Truly, the blockchain is a place where everyone wants to host, but few want to clean up.
The hashrate, that most ostentatious of averages, has also soared past 1.1 trillion hashes per second. One might say the network is now secured by more calculations than a Victorian mathematician’s diary. Splendid! 🤑
Yet as mining difficulty rises, so too does the exasperation of individual miners and corporations, who now find themselves outpaced by industrial-scale operations. Centralization, that most unbecoming of trends, creeps in like an unwelcome suitor at a debutante’s ball. How droll!
Publicly Traded Companies: The New Victims of State-Sponsored Mining
Smaller miners and publicly traded firms now face competition from governments-those paragons of efficiency-and energy providers, who have mastered the art of mining with free energy. Why pay when you can politic? 🏛️
From Bhutan to El Salvador, governments have embraced Bitcoin mining with the enthusiasm of a cat cornering a particularly plump canary. Pakistan, for instance, has allocated 2,000 MW of surplus energy for mining, a move as bold as it is baffling. One must commend their commitment to turning cryptocurrency into a state-sponsored hobby.
In Texas, energy providers have integrated Bitcoin mining into their grids, balancing loads with the precision of a Victorian housemaid arranging teacups. Excess energy? Mine it. Peak demand? Pause the rigs. How efficient! How… profitable! 💡
Electrical grids, those temperamental beasts, now find their excess energy consumed by mining rigs, while corporations groan under the weight of paid electricity. What a world! Where once we worried about vampire power, now we worry about vampire governments. 🧛
Energy companies, with their “free” energy and controllable loads, now outshine mining corporations like a diamond in the rough-though one suspects the rough is now just poor business decisions. A toast to the new order! 🥂
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2025-09-20 20:33