Ah bitcoin at $6,925 looked so far away back in January
According to this story, mining becoming unprofitable means that control of mining (& influence over some cryptocurrencies’ development), will end in the hands of an even smaller group of large company’s hands. And there’s security implications too
Although I’d have thought that at some point, the big companies will be forced out of business & smaller miners would be able to start mining profitably again, which could be good news for ‘decentralisation’?
As for the large companies, I guess this is just what happens when you build a business on top of a bubble