The mining difficulty of Bitcoin (BTC), a metric that follows the relative challenge to add new blocks to the big book, climbed to a new summit of 142.3 Billions on Friday.
The mining difficulty has reached heights of all successive time in August and September, driven by an influx of calculation power freshly deployed in recent weeks.
The Bitcoin hashrate, the average of the total computing power, guaranteeing the decentralized monetary protocol, also reached a summit of more than 1.1 billion of haven on Friday, according to cryptocurrency.
The increase in mining difficulty and the constant need for high energy performance and high performance computing power to secure the network make it more difficult for minors and companies to compete, which raises concerns that Bitcoin extraction becomes more and more centralized.
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Locked on the stock market companies face the heat of governments and energy infrastructure providers
Small minors and even listed companies face increasing competition from governments, which have access to free energy resources and energy infrastructure providers which can vertically integrate Bitcoin’s exploitation into their commercial operations.
Several governments already exploit Bitcoin or explore mines with excess or runoff, including Bhutan, Pakistan and Salvador.
In May, the Pakistani government announced its intention to allocate 2,000 megawatts (MW) of excess energy for Bitcoin extraction, as part of the country’s regulatory pivot, adopting cryptocurrencies and digital assets.
Energy suppliers in the American state of Texas also integrate Bitcoin extraction into their infrastructure to balance electrical charges in collaboration with the Energy Liabibility Council of Texas (ERCOT).
Electrical networks may suffer from a lack of energy to meet consumer needs during peak demand or too much excess energy during the low demand from consumers, which can damage the electrical network and put a danger if it is not properly redirected.
Texas energy companies use Bitcoin extraction as a controllable load resource to balance these electrical differences, consuming excess energy during the low demand period and extinguishing their mining platforms during periods of consumer demand.
This achieves the benefit of these electricity suppliers without them care about the variable cost of energy, creating a significant competitive advantage over the listed mining companies which have to pay.
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