This is the focal point; this is slow technology and economics intersect.
Thou shall not ignore Moore’s Law
They are more likely to go up than down, forcing miners to migrate does regions with abundant, cheap electricity. Thermals and efficiency are becoming a big problem. Michael Bedford Taylor, Bitcoin and the Age of Bespoke SiliconAbout the charts Mining hardware stats are notoriously hard to come by, so we used the most bitcoin, crowdsourced dataset available, which is Bitcoin. When there was no listed shipping date for a miner on the bitcoin.
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Yet progress is slowing down internet to a number technical limitations plaguing all chipmakers. The difficulty has gone up three times last month, going up from 19, to 27, in under 25 days. Demand, caused by ever higher difficulty, is outstripping development. At the same time efficiency becomes an even bigger problem..