Bitcoin miners grow 206% year-on-year, and mining just got easier

2021 is a record year for the crypto market, and both institutional and retail investors have benefited more or less. Data from The Block Research shows that bitcoin miners will earn more than $15 billion in 2021, a year-on-year increase of 206%. Mining revenue peaked in March, with miners earning around $1.75 billion that month, including $167 million in transaction fees. Throughout the year, Bitcoin mining revenue was boosted by a surge in the price of the currency. Will Bitcoin mining still be profitable in 2022?

The crypto asset market is a highly volatile market, so a trend prediction can only be made at the macro level.

At the beginning of 2022, the inflation rate of major countries and regions in the world is already fast enough to brake. Some experts predict that the United States is expected to raise interest rates three times in 2022 to control the speed of inflation.

After the successive wave of interest rate hikes, U.S. stocks have fallen sharply, and Goldman Sachs has directly warned the Fed for the first time that if the tightening policy causes an economic "hard landing", the United States may face an economic recession.

On the other hand, the crypto asset market has experienced a first fall and then a rise around the Spring Festival this year. At present, according to the market, the value potential of Bitcoin is far from reaching the critical point, and the bullish trend is beyond doubt.

Many believe that cryptocurrencies, especially Bitcoin, are likely to be the last safe haven in a recession. Bitcoin is a currency with a limited amount and free circulation, with natural deflationary characteristics. Its long-term performance has been highly anticipated by the market.

The income of Bitcoin miners is mainly affected by the currency price and electricity price. When the currency price continues to remain high, all Bitcoin miners will benefit considerably.

How can I participate in Bitcoin mining?

A few days ago, there was news that did not attract widespread attention in the industry: the traditional chip giant Intel (Intel) is going to release its own bitcoin mining chip. In fact, institutional movements often mean opportunities for wealth as well.

Since 2021, the number of institutions involved in Bitcoin mining has gradually increased, and the scale has become larger and larger, which is the main reason why the difficulty of Bitcoin mining continues to rise. Statistics show that the world's top 40 listed companies holding bitcoin already own more than 250,000 bitcoins, accounting for 1.2% of the total bitcoin.

So how do ordinary people participate in Bitcoin mining? Compared with other industries, Bitcoin mining is not a labor-intensive industry. In theory, mining can be done as long as there are mining machines and electricity. Therefore, for mining, you only need to buy a mining machine and find a mining farm that hosts the mining machine, and then you can participate in mining.

However, this is actually not easy, because at present, the first-hand bitcoin mining machine resources have been obtained by institutions, and ordinary miners can only find second-hand resources, and the quality of second-hand bitcoins varies. In addition, it is not easy to find a reliable mining farm. Some small miners may even swallow the machine. Not only can the miners not be able to obtain income, but even the mining machine cannot be preserved. Therefore, if miners want to participate in mining, they must find a professional, large-scale and long-term operating mine.

Taking the LLGO platform as an example, it has invested in the construction of 6 blockchain data centers in Eastern Europe, the United States, Canada and other regions, with a power supply of more than 100MW and a hosting scale of more than 30,000 mining machines. In terms of mining business, the LLGO platform can provide one-stop services such as mining machine leasing, mining machine hosting, and mining machine trading.

In addition to mining accidents, the LLGO platform also integrates functions such as wallets and transactions, with simple operation and comprehensive functions. Whether miners want to reserve their own bitcoins or sell their own bitcoins, they can also do so through the LLGO platform.

As the world's first large-scale cryptocurrency platform that integrates mining, wallet and transaction, it has created an ecosystem from mining to transaction. It has large-scale and professional institutional characteristics, and at the same time can provide services for ordinary miners, which is convenient for retail investors and small miners to participate in mining.

In 2022, is Bitcoin bound to rise? No one dared to pack a ticket. But, if asked, will Bitcoin continue to rise? I want to watch Bitcoin go up all the way over the years, and everyone knows it. For those who participate in Bitcoin mining, as long as they can mine coins and stabilize their mentality, they will definitely be able to get a share of the pie no matter when they participate in mining.

The best time to mine, the earliest is ten years ago, and the second is now. Would you consider participating in Bitcoin mining?