Quick Take
The steadfast and still-growing crypto mining ecosystem can be broken down into many verticals, but most important are its mining pools, manufacturers, and lenders.
A few requirements must be met when becoming a Bitcoin or PoW miner, such as obtaining hardware (GPU or ASIC), mining software, a wallet, and a mining pool if they do not plan to solo mine.
The mining ecosystem was previously centered in China but due to recent regulatory crackdowns in 2021, the space saw a substantial departure of key players such as mining data centers, manufacturers, and operators from China over to countries like Kazakhstan, the United States, and Canada.
The mining power required to mine Bitcoin can be derived from renewable energy supplies like wind, solar, and hydroelectric.
The Block has identified 110 crypto-mining companies across 11 verticals.
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