Bitcoin mining, like any industry, has economies of scale. But it also has severe diseconomies of scale- the larger a mining operation grows, the more vulnerable it becomes to regulation and political pressure.
Bitcoin mining, like any industry, has economies of scale. But it also has severe diseconomies of scale- the larger a mining operation grows, the more vulnerable it becomes to regulation and political pressure.
Also, waste energy isn’t available at scale. Eventually the difficulty adjustment will push all bitcoin mining to “free” energy that otherwise would be wasted.
