Mining companies may benefit from a growing market for Bitcoin (BTC) derivatives to finance and support their power-hungry operations. In 2019, despite price fluctuations, mining activity remains near all-time highs.
Bitcoin Mining Turned into Large-Scale Business
Mining is becoming large-scale business in 2019, with big pools and ASIC producers once again coming into the spotlight. Canaan Mining even managed to launch its IPO on NASDAQ, selling its shares through a listed shell company.
But now, a special product may be created for miners, to directly hedge against the fluctuating Bitcoin hashrate in the coming months, reported Reuters. Smaller mining pools are highly vulnerable to swings in the hashrate, as large-scale pools take up more than half of bitcoin blocks. Larger operators can also afford more powerful ASIC, or simply run…