Now that mining is restricted to the rich, miners have to get creative

Now that mining is locked and being handed into the hands of the rich and powerful, miners have to find another way around it.

I think most miners will be invested in joining massive pools now run under people with massive stakes in mining, I mean that’s the only way they’d be able to use their equipment still. I can’t imagine the rates that these rich folks will be charging miners for to enter their pool.

You see, the massive movements around BTC and ETH in 2021 made everyone interested in mining them and hashrates went up more than ever before.

As reported by coindesk:

In 2021, when bitcoin (BTC) was hitting new highs, investors were pouring money into miners both private and public. But now that bitcoin and the broader crypto market have been pulled off from their peak from last year, the capital market has dried up for the digital asset industry as investors became more risk averse. That hasn’t stopped miners from spending to expand their companies by adding mining computers and processing power, or hashrate. Most of them have signed contracts to receive mining computers throughout this year.

The market is done wir mining for the average user and they'd have to resort to other means of profit, which are plenty and out there: especially now that web 3.0 is on the rise with new projects out there like FIL or LINK or Aloha DeFi with their win win system of sharing spare mobile data and earning, this seems to be the next sentiment of the market and where things will be headed.

Because mining is no longer available out there, I think many old miners will be struggling to find ways to use their old rigs at a sustainable cost.