Today, Slush Pool celebrates the 10-year anniversary of the first block the pool ever mined, Block #97834. It has been an incredible decade, and we’re proud to have mined over 1.25 million BTC since then.
However, this is not going to be some feel-good reflection on the past 10 years. Rather, this piece is going to focus on our vision for the next 10 years, because this will be the decade that determines whether Bitcoin mining can remain meaningfully decentralized as publicly-traded companies, energy producers and even major governments become increasingly involved in the mining industry and the greater Bitcoin ecosystem.
In fact, it’s important for people to know that this transformation is already taking place at a rapid rate. Amanda Fabiano, head of mining at Galaxy Digital, explained how miners at different scales are gaining access to cheap power, “from small-scale, off-grid miners using waste gas from oil and gas fields, to large-scale miners who own their underlying infrastructure with the ability to take advantage of power arbitrage, to energy producers beginning to ask questions about bitcoin mining.”
After the sustained bear market of the past couple years and the most recent Halving in May, the miners who remain operational today are here for a reason. As Fabiano put it, “The mining industry has graduated from its elementary school years and miners are entering into a new wave of professionalism with creative solutions to meet their goals.”
In the rest of this article, we’ll tell you about how this industry-wide professionalization is impacting us and our plans to adapt and solve…