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The Economics Behind Bitcoin Mining: How ASIC Miners Drive Cost-Efficient Bitcoin Production

Photo by Brian Wangenheim on Unsplash Glance at this mining farm setup. It’s quite an impressive array of technology, isn’t it? But what drives someone to construct such an elaborate system? The answer is grounded in an economic principle many of us can relate to. Think about corn: If you had the means, wouldn’t you rather grow it in your backyard