Miners made massive gains due to the increasing price of bitcoin last year, therefore they rushed to get additional mining power up as soon as possible, according to Jaran Mellerud, researcher at Oslo’s Arcane Research.
Analysts and industry insiders predict that the trend will continue far into 2022, with miners in North America, Russia, and Europe planning to install even more machines – barring any unforeseen catastrophe, such as China’s ban on crypto mining or a major drop in bitcoin’s price.
